Where it usually breaks
And how to keep it from happening.
- An executed transfer is edited instead of reversed.
- A failed submission is resent instead of checked with the bank.
- A receipt is marked Completed without the evidence behind it.
- Treasury Bills & Bonds
- Process
- Correction and receipt reconciliation
Correction and receipt reconciliation
Correct or cancel an instruction with a reason and resolve every pending or failed operation receipt.
Step by step
-
Request the correction Treasury Preparer
Treasury Preparer selects the instruction and records the reason for correcting or cancelling it.
- Correction requested
- Updates Bank instructions
-
Separate the scope Treasury Preparer
The current version, its evidence, decisions and receipts are read. Unexecuted draft scope is cancelled and its account claims released.
- Draft scope released
- Updates Bank instructions, Instruction accounts, Bank evidence, Operation receipts
-
Prepare a compensating instruction Treasury Preparer
Where scope was already executed, Treasury Preparer prepares a compensating instruction that carries the original reference.
- Compensating instruction Draft
- Updates Bank instructions, Instruction accounts
-
Approve the correction Treasury Approver
Treasury Approver approves the compensating instruction before it is submitted.
- Compensating instruction Authorized
- Updates Review decisions, Bank instructions
ApprovalA person approves before the work moves on. -
Reconcile receipts Settlement Analyst
Settlement Analyst reviews Pending, Failed and needs review receipts against the persisted effects and marks each Completed or needs review. Provider actions are never repeated from this step.
- Receipt Completed or needs review
- Updates Operation receipts, Bank evidence
Who does what
Roles and permissions- Treasury Preparer
- , Treasury Approver, Settlement Analyst.
Set up Treasury Bills & Bonds your way.
Start free, then use Proto to change fields, steps and approvals before your team goes live.