Saturday, 20 December 2014

Finacle Commands for concurrent auditors Page 3 How to check Default of Installments and Interest Excluding NPA (laopi)

                With the help of finacle dealing with complex banking transactions has become much easier but as a concurrent auditor if you don’t know how to use it, its utility is nil to you and it will make your head to ache. In my first experience with finacle during the initial days of conducting ConcurrentAaudit of a bank I also faced the same scenario. I was on the first interaction page wondering what to do with this software, but with the help of my Principal I developed a smooth hand on its use and learnt a lot about it. It is much easier to use than it seems to you when you first visit a bank for audit purposes. Here I’m going to share its use and help those who are at the same stage this time as I was before a couple of years.

Some of the aspects Concurrent Auditors have to take care of:
  • Overdrafts:
  • Cash:
  • Documentation and KYC:
  • Pending Installments of Term loans:
  • Cash Credit accounts operating conditions:
  • Observation on information system(maintenance, operating, internal control etc):
  •  Verification of high value and unusual transactions:
  • Insurance Business:

And more based on the type of bank and type of branch in the bank.

Most Used Finacle Commands which are a must to learn for beginners.
  • Acs – Account selection
  • Acli – Account ledger inquiry
  • Ato – Account turnover
  • FTI -  Financial Transaction inquiry
  • Laopi – Loans and advances outstanding position inquiry
  • Lrp    -   Limit liability report
  • CUMI  -  Customer Master Inquiry

How to check Default of Installments and Interest Excluding NPA (laopi):

                Everyone knows that banks provide term loans to its customers which has to be repaid in some number of  installments together with the interest applicable. Concurrent auditors have to keep check on those accounts which fail to pay these Installments on time and report the same. Here I will show, how to check and report these accounts.

Following steps should be followed to get the required information:

  • Step 1) On the first interaction page enter laopi in the menu options’ option box and press ENTER              Loans Overdue Position Inquiry menu will open.
  • Step 2) In this menu enter the GL Subhead Code of the Term loan type (under which you want to check the pending installments) in GL Subhead Code option box. Don’t press f4 here if the number of accounts is huge.
  • Step 3) Enter From Account ID and To account ID (in order to reduce the load on software).
  • Step 4) At the bottom of the page Change the options as “Adjusted Demands?” A to N, “Overdue Demands only?” N to Y, “Overflow A/C only?” keeps it on NNow Press f4

Here you will get the list of accounts defaulting in payment of Installments. Now press Ctrl+E on a particular account to check the number of installments and Interest outstanding or note down the account numbers with pending installments and Simply follow these steps to get detailed information .
  • Step 1) On the first interaction page enter acli in the menu options’ option box and press ENTER
  • Step 2) Selection Criteria menu will open up, enter 16 digit account number (first 4 digits are branch’s SOL ID next 5 are GL Subhead of the account type last digits are the account holders account number and in between the GL Subhead and account number press and hold 0 to fill the remaining digits e.g., 1234567890000020, where account number = 20 GL subhead = 56789 and Sol ID = 1234) and press Ctrl+E to explore.
  • Step 3) In the next menu Press E and press f4.
  • Step 4) In the next menu Press Shift+f4

                Here you get the details of all the installment of the term loan.

Step 5) Press Ctrl+D multiple times until you reach the point where 0 = collection amount < Demand amount ( it means where either the collection amount is Zero or Less than Demand amount.

                Now compute the total of installments pending and interest pending separately, also count the number of installments pending.

Daily cash balance checking
How to Check “General Ledger” of a bank

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