ELECTRONIC CLEARING SYSTEM (ECS) IN DOP FINACLE

• ECS is the process through which  settlement takes place between post office and Banks involved in the process as a part of Finacle payment system capabilities, supports settlements without physical instruments.
• ECS in simple terminology can be descirbed as transfer of amount from post office to bank through electonic media.

Features of Electronic Clearing System

• ECS supports both inward and outward transaction processing in electronic form

1. Outward debit(Future)
2. Outward credit
3. Inward debit(Future)
4. Inward credit  

• The process of electronic clearing is similar in all aspets with that of cheque based clearing excpet it is in the form of electronic insrtuctions instead of cheques
• ECS also follows the Net settlement approach
• Facilitates collection of charges(if any) from customers through ECS.
• The data is processed at the Service Post Office level on behalf of all the Post Offices attached to the service Post Office.

Step by Step Process

Following are the steps involved in Electronic Clearing System(ECS)

• Enable the facility of ECS for the customers at the time of opening of account from the menu options 

1. SB-CASBAO
2. RD-CRDOAAC
3. TD/MIS-CMISAOP
4. SCSS-CSCAOP

•  Enable the facility of ECS for the existing customer through the menu option

1. SB-CASBAM
2. RD-CRDACM
3. TD/MIS-CMISAM
4. SCSS-CSCAM 

• Invoke the menu option HECSM( ECS Mandate Maintenance) to set a mandate for customer acocunts for Outward transactions in ECS. Mandate can be set for operative and Loan account.
• A mandate refers to the set of instructions given by the customer to participate in ECS.
• Invoke the menu option HOTCE for Over the counter ECS transactions or transactions without mandate (In future) 

 Step by Step Process in Detail

Enabling of ECS facility to the new customers(at the time of opening)

• We can enable facility of ECS for the customers at the time of opening of account from the menu options 

1. SB-CASBAO
2. RD-CRDOAAC
3. TD/MIS-CMISAOP
4. SCSS-CSCAOP

 For example at the time of opening of account(SB) we will select the ECS menu option as "YES" as mentioned in the below screen

For MIS account opening we will slect the ECS option as "YES" and enter the following as mentioned in the below screen shot

Select ECS as"YES"

Enter the amt type ________________

Enter the amount _______________

Enter the PaySys id as "ECS"

Enter the other Party A/c id ___________

Other Party Name ____________

Other Bank/branch city code ___________

Other Bank code ____________

Branch Code  _______________

 as shown in the screen shot.

 Click on Submit and  supervisor has to verify the account created by the operator.

Setting Mandate for Outward ECS

HECSM stands for ECS Mandate Maintenance

• Invoke the menu HECSM and then select the function as "ADD" as mentioned in the below figure

Then click on GO then the system will show the following screen as shown

Then enter  the following details

Enter the A/c ID  ________________

Enter the PaySysID  as "ECS"

Select the message type as _______

Select Part Transaction Type ________

Select Transaction code as "ECS"

Enter the start date _________

Enter the End date ___________

Enter Amt type ________________

Enter the amount ______________

Enter the other Party A/c id ___________

Other Party Name ____________

Other Bank/branch city code ___________

Other Bank code ____________

Branch Code  _______________

 as ashown in the below figure

Then click on submit then the system will generate the mandate number.

Verify the same in the supervisor.