Where it usually breaks
And how to keep it from happening.
- A submitted payment is cancelled locally while the bank still pays it.
- A confirmed instruction is edited to change its amount.
- A cancellation is made without a reason.
- Treasury Operations
- Process
- Correction and cancellation
Correction and cancellation
Cancel instructions that have not been executed and correct executed ones with an approved compensating instruction, always with a reason.
Step by step
-
Request with a reason Treasury Preparer
Treasury Preparer requests a correction or cancellation of one instruction and enters the reason. The reason is mandatory.
- Correction or cancellation requested
- Updates Bank instructions
-
Check what was executed Treasury Preparer
The instruction is unexecuted when it is Draft, Review or Authorized with no completed submission or confirmation receipt.
- Executed or unexecuted scope identified
- Updates Bank instructions, Operation receipts
-
Cancel unexecuted scope Treasury Preparer
An unexecuted instruction moves to Rejected. The reason is recorded as a Reject decision and any claims it held are released and named on the receipt.
- Draft, Review or Authorized → Rejected
- Updates Bank instructions, Review decisions, Operation receipts
-
Compensate executed scope Treasury Approver
An instruction already sent or settled is not edited. A compensating instruction, such as a return payment, is prepared and approved by a Treasury Approver.
- Compensating instruction authorized
- Updates Bank instructions, Review decisions
ApprovalA person approves before the work moves on.
Who does what
Roles and permissions- Treasury Preparer
- , Treasury Approver, Treasury Manager.
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