Procedure for Issuing a Cheque for POSB Account Closure

 

Step-by-Step Instructions:

Step 1: Initiate Cheque Request (Source Office)

• After closing the POSB account and crediting the amount to the Finacle office account (340), initiate a cheque request in the Treasury module.
• Navigate to: Miscellaneous Receipts/Payments
• Fill in the details as follows:
• Transaction Type: Payments
• Transaction Mode: Cheque
• Payee Name: [Enter Customer Name]
• Account Code: 8671005000 – POSB Payment Cheque Issued
• Amount: [Enter Closure Amount]

Remarks: [Enter appropriate details, e.g., "POSB A/C Closure"]

Step 2: Forward Request to Head Office (HO)

• The Treasury Supervisor must forward the request for approval.
• Navigate to: Treasury → Approval of Miscellaneous Receipts/Payments
• Select the request and use the Forward action to send it to HO Treasury.

Step 3: Head Office Issues Cheque

• HO Treasury will generate the physical cheque.
• Navigate to: Drawing Management → View Details → Issue Cheque

Step 4 & 5: Source Office Approval & Disposal

• Once issued, the cheque will automatically flow to the Source Office Treasurer.
• The Source Office Supervisor must approve the transaction.
• The Treasurer must then dispose of the cheque to finalize the process.
• Navigate to: Treasury → Cash/Cheque → Cheque Disposal