Introduction to T24 - Accounts

Product Overview
Account classified as: Customer & Internal
Account
Customer Incur Interest + Charges,
Involve counter party (external
client)
_Saving/Current , Nostro/Vostro
account
Interest
- Fixed or Floating
- like charges it can be set for the Group or individual level
Internal account Interest and charges cannot be applied,
Never linked to a customer or there is no counter
party(Internal),
used for banks own use like asset &liability
Account - Static tables
- CATEGORY-saving , current, vostro ,nostro
- CURRENCY-ETB,USD,EUR,GBP
- CUSTOMER-NON FINANCIAL INFORMATION OF A
CUSTOMER
- RELATION for joint account
- DEPT.ACCT.OFFICER -RESPONSIBLE PERSON(staff)
Account Mandatory details
- Id
- Customer
- Currency
- Product code/Category
Account Optional details
Account Mnemonic, Account name, Short
Name, Account officer, Joint Account holder,
etc.
Different fields (features) on account
opening

Customer ID Identifies the customer to whom

the account belongs. The field maintains a link
between the customer record and their accounts
Product code Indicates the product code for the
account. In T24 these are product category
codes

Mnemonic Specifies an alternative method of

referencing to the account. Must be unique.
Currency Identifies the currency of the
account.

Account Name Identifies the first part, or the

whole, of the Account Title. The title can be
continued in the ACCOUNT TITLE 2 Field, if it
turns out to be too long to be accommodated
in one filed.
Joint account ID This must be the ID of the
customer who is being made Joint account holder.
Drop down list available

Joint Relation Code Indicates the relationship the

Joint Account holder has with the original customer
of the account (i.e. parent-child relationship)

Relation Notes This field can contain any

documentary info pertaining to the joint holder
 ====== w1,2,3,4=====
W1-P7, W-2-P9, W-3-P11, W-4-P13
accuracy and prevent fraudulent entries,
it is strongly advisable that all new Account
records as well as any changes made to
existing Accounts should be authorized by
a person other than the one who
originally captured the details.
Account Number Format
T24 can use many different Account id structures
We need to see the account number from two
different dimensions Customer account and
internal account
Customer/Client Account number
format
CBE will use 13 digits
possible to have the automatic inclusion of
the CUSTOMER ID.
Internal account number format
The format of an internal account depends on how
the environment is set up.
Multi-book
In a Multi-Book environment the simple internal
account
number format will be CCYCCCCCNNNNBBBB

Account number=currency +category code +

sequence no +branch code
Locking of Funds (Blocked or Held Amounts)

T24 has the functionality to lock funds on an

Account (also known as blocked or held amounts).
Defined amounts can be locked for specified
periods of time, with an override being required
where a transaction takes an Account below the
value of the locked funds.
This is achieved through use of the application
AC.LOCKED.EVENTS. This application must be populated
with the required details as follows:
ACCOUNT.NUMBER The account number that will have the
locked amount.
FROM.DATE The date the locked amount will commence.
TO.DATE The final date the locked amount will be held.
Funds will be release as from the start of the following day.
If the field is left blank, then the locked event will stay
forever in the account until the event is manually reversed.
LOCKED.AMOUNT The amount of funds to be reserved for
the above period.
Inactive Accounts
The field INACTIVTY.MONTHS in the COMPANY
record indicates the number of months
without customer activity before an account is
declared inactive. An account is marked to
inactive during the COB
Accounting Process
Enforcing balanced accounting entries
In order to maintain the financial integrity
of the system, T24 performs a check that
the accounting entries raised by an
application balance.
 Nostro Account and different fields while opening
link to customer file for Bank
Currency should be our Nostro account
currency
Mirror account
RECONCILE.ACCT set to yes
RECON.TOLERANCE
EXTERNAL.ACCT.NO To define the actual
account number in the book of Correspondent
bank.
======= w-5 P17======
 Role based Home page for Retail Users
Custom set of menus/enquiries
Allow multiple screen
Enables user to carryout day to day work related to retail
operation
====== w -6-P20======
Amendment in accounts
Possible to amend details of account Id, product code
(from S/A to C/A), fields like account officer , etc
Currency cant be changed
NOSTRO ACCOUNT CHANGED ONLY TO NOSTRO ACCOUNT
====== w-7 P23======
Account Service Conditions
Account could be differentiated by setting
preferential conditions with respect to:
Interest, charges, statements
Interest Types & Rates
Interest application or capitalization when
& at what frequency for dr. & cr. Interest
separately
Fixed & Floating currency wise
Interest calculation on which balance
average or minimum
Charges Types
Needs no. of introduction:
Interest related or ledger fee

Statement Frequency
For Individual or Group
Interest & Charges can be set for group of accounts
S/A by resident
S/A by company types
Possible to set account level condition
The condition set up at account level override set up at the group
level
======== w-8-P28,W-9-P30,W10-P33 ======
Account closure
Possible to close an account both online and
during the Close of Business (COB).
Closure date default System Date
Credit account is mandatory
Interest capitalized till closure date
The application ACCOUNT.CLOSURE is used to close
accounts whether online or during the close of
business. The account number is used as the record
id, and the system will calculate outstanding interest,
premium interest and charges. You may amend the
capitalization date, settlement account and the
posting restriction to be placed on the account record
 WORKSHOP-11 PAGE-38
 Liquidation of Account
A customer may direct the Bank to recover
interest and charges of one his/her account
from another account.(it is a contract based
account)
 Enquiries - Account details, Account Entries, Interest
Enquiries
Today's account balance of customer
Entries for Today
Entries for Given date
Balance on statement date
Average account balance Debit, credit and Zero
balance
Entries from last statement for a given account
Interest rate changes for account
locked amount showing details of amounts locked
under various dates
RESETTING
The application ACCT.INACTIVE.RESET is used
to remove the inactive setting in the account.
The value of the RESET.DATE must be today.
During the Close of business the
INACTIV.MARKER field in the account record
will be cleared.