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T24 Customer

Welcome to T24 Teller Course

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T24 Teller

Here is the agenda of this course

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T24 Teller

In this course, we will learn about the different teller activities, the creation of tills, capturing teller transactions and the standard enquiries and reports.

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T24 Teller

First, we will discuss what a Teller does.

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T24 Teller

With the use of the Teller Application, a Teller can • receive and pay out cash • record traveller’s cheque transactions • And transfer funds between accounts All these transactions can be in local currencies, foreign currencies or in a mix of both.

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T24 Teller

The Vault is where the Bank’s cash is centrally held. A bank could have more than one vault. Head Teller operations include the control of the Vault. The Head Teller also manages other tellers. The Managing of other tellers includes activities like: • assigning tills to users, • authorising transactions of tellers • transfers between tills, • and the physical checking of cash during till closure. Teller operations can handle transactions in both local and foreign currency. Cash deposits and withdrawals, the purchase and sale of foreign currency, account to account transfer and the sale and purchase of travellers cheques can be handled through the TELLER application. When required, it is possible to transfer cash from one teller to another or between the Vault and Tellers. Teller operations affect Customer Accounts, Internal Accounts and Profit and Loss items. Cash is an internal account and any cash transaction done by a Teller will affect the Cash account. When a customer is paid cash or when cash is received from a Customer for credit to their account, then the customer’s accounts are affected. It is possible to apply charges for some operations. When foreign currency is bought or sold, banks apply charges and commission. In addition to this, the Teller department may book a foreign exchange profit or loss when the rate offered to the customer is different from the posted Treasury rate.

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T24 Teller

The first step of the daily operational cycle would be to actually open the till and assign it to a user. Cash is then transferred from the vault to the tills. Various operations like cash deposits, withdrawals, currency exchanges and account transfers can be performed by the teller as long as the till is open. During the day, should the cash balance of a till become insufficient to carry on operations, cash is transferred from the Vault to the till. Alternatively, till to till transfers can be performed. At the end of the day, the tills are closed and surplus cash is transferred to the vault. Some banks allow small amounts to be left with the tellers. When closing a till, the teller is required to reconcile their till cash balance against the system balance. If any discrepancy is discovered, an override is raised, and if accepted, T24 will post the difference automatically to a cash overage account or to a cash shortage account. In line with Accounting rules, when a teller receives a deposit from a customer, the till will have the credit and the internal cash account will be debited. At times, without adequate cash, a Teller may input a transaction to pay out cash. T24 generates an override that the Till does not have enough cash availalble. The Teller can then receive cash from the vault or another till and then proceed to effect the payment. The payment transaction record can he kept on HOLD and can be executed after the receipt of cash from other tills. In summary, T24 generates an Override message to indicate an insufficient cash position which prompts the teller to arrange for the receipt of cash from another till. It is possible to scan and store Customer signatures through the IMAGE.MANAGEMENT application. This is of benefit to the teller when performing customer payouts. The Printing of passbooks or deal slips can be performed by linking the teller to a printer directly or through a network.

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T24 Teller

We will now look at the Static Tables

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T24 Teller

CURRENCY table is used to maintain buying, selling and middle rates for different foreign currencies. When an account is debited, the currency of that account is bought and T24 defaults Buying rate of that currency from this table. Similarly, when an account is credited, the currency of that account is sold and T24 defaults Selling rate. These rates are held market wise, like separate rates for Currency market 1 and separate rates for Cash market 10. It is possible to set rules as to which market rates are to be defaulted for what type of teller transactions. FT.COMMISSION.TYPE is used to indicate pre defined commission to be collected for specific teller transactions. FT.COMMISSION.TYPE records can be linked to TELLER.TRANSACTION for collecting charges for specific transactions like foreign currency purchase, cash withdrawal etc When transactions are input by teller, then the appropriate rates for the specific transaction linked to FT.COMMISSION.TYPE are applied. It is possible to set minimum and maximum amount of commission to be collected in FT.COMMISSION.TYPE. Likewise, it is possible to define that T24 should collect 0% commission upto an amount of say USD 25,000 and 0.25%, thereafter. Then, even when we opt to take commission for a transaction, if the transaction amount were less than USD 25,000, T24 will not collect any commission for that. Temenos University - June 2012

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T24 Teller

We will now see how to create a till

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T24 Teller

A Teller can perform transactions only if their till is open. The Head Teller opens a till for every teller and then closes the till, which is usually performed at the close of the day. The balance in the till is updated with every cash transaction.

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T24 Teller

For performing Teller operations, tills are opened and allotted to Users. TELLER.ID is the application used to open a till, assign a user and balance the till on closing. This application assigns a 4 digit number, which is called the Till number or the Teller’s ID. The vault is also a till and a number, generally 9999, is reserved for the vault and is defined in TELLER.PARAMETER. It is possible to define more than one vault in the system. A Vault is differentiated in TELLER.ID by its status. The status is neither open nor close and has a null value. All other tills are to be opened before commencing daily teller operations and closed once the operations are completed. For a teller to perform transactions on a till, the till must be opened and assigned to the teller

A user cannot be assigned to more than one open till at any time, unless special arrangements are made for multi tills. If necessary, a new user can be assigned to the existing till by changing the user ID of that till. After the change, the new user can operate using that till.

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T24 Teller

In this workshop, we will create a till

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T24 Teller

Start with the Retail Operations menu, select the Account Transactions menu, then Teller menu, then Head Teller Operations, then Till Administration, then Create New Till. From there, you can fill in the required fields

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T24 Teller

We will now discuss the different type of Transactions

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T24 Teller

The Teller modules facilitates the recording of: • local currency transactions • local currency transactions in foreign currency accounts • and foreign currency transactions.

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T24 Teller

Each local currency transaction is automatically assigned a unique ID. To avoid having to input the complete Reference Number, the User has the facility to input only the sequence number of the transaction in order to access a transaction that was input that day. The Application will automatically generate the first seven digits and append them to the front of the sequence number in order to retrieve the requested transaction. To handle large volumes of teller transactions, it is possible to include Alpha characters at the end of this number by stating so in the AUTO.ID.START application. The TELLER.TRANSACTION Table is used to define all types of transactions for the TELLER application. For every teller transaction, a value is needed for the debit side and the credit side. Rules can be defined as to which side user input is allowed. For example, for all cash receipts, the user can set the default internal account for the debit side. This would result in the debit account field being blocked as non-imputable. So, the user is allowed to input only the credit account number. Similarly, the credit account is usually set with a default internal account for payments and only the debit account is allowable for input.

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T24 Teller

In the case of withdrawals, the cheque number can been made mandatory within the underlying transaction. Along with the cheque number, cheque type is also to be mentioned. The cheque type could vary as per set-up, like CURR for current accounts and SB for savings accounts. When a cheque type is not mentioned and only a cheque number is mentioned, T24 generates an override to indicate the absence of the cheque type. Once approved, the transaction goes through. The denominations of each currency that the Bank would deal in, has already been set up. Those denominations appear according to currency. Here, for local currency transactions, Denominations of USD appear, which have to be filled in according to actual cash received. Naturally, the receipt or payment indicated should match the actual cash amount.

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T24 Teller

In this workshop, we will input a local currency transaction

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T24 Teller

These are the fields to fill in. The Denomination must balance to the deposit amount otherwise the system generates an error message.

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T24 Teller

Here we see the transaction in the customers account.

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T24 Teller

In the case of withdrawals, the Teller can only pay out what he has in his Till. You cannot payout more than you have in the Till. The system will generate an override if you try. This override can be converted into an error message.

The system keeps track of the denominations paid out. You can only pay out using the denominations available in your Till. For example if you only have two hundred dollars as two one hundred dollar bills. You would not be able to process a cash withdrawal of fifty dollars.

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T24 Teller

This workshop is about a cash withdrawal

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T24 Teller

Here is the input screen

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T24 Teller

Here is the tellers Till Balance.

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T24 Teller

Here is the entry posted into the customers account.

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T24 Teller

Different currency markets can be used using one for cash transactions and another for account to account transfers. The CURRENCY table holds the exchange rates for each currency in all the markets required. The TELLER application automatically defaults the applicable buying or selling rate depending upon the nature of the transactions. The debit currency is the buy and the credit currency is the sell. For example when the local currency is deposited into a foreign currency account, then the sell rate for the foreign currency is defaulted. When local currency is withdrawn from a foreign currency account then the buy rate is defaulted. The difference between the buy and sell rate and the middle rate can be calculated by T24 as profit or loss for the Teller Department, assuming that the middle rate is the Treasury rate. This profit or loss is booked as the marketing exchange profit or loss. If a bank does not want to follow this, it need not opt for this choice. In that case, the Teller department’s profit or loss on exchange will not be separately worked out. It is possible to either waive charges or to not waive them for any particular transaction. If charges are not waived, then T24 calculates and takes charges as predefined for that transaction type. Let’s take an example where cash of a local currency is being deposited into a foreign currency account. We could set that no charges apply for amounts up to, say, 25,000

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T24 Teller

USD, and then 0.5% is to be taken for amounts above 25,000.

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T24 Teller

Pre-defined charges are defaulted in Teller transactions. The Teller can waive or modify the amount of the charge.

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T24 Teller

In this workshop, we will input a Local Currency Transaction in a Foreign Currency

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T24 Teller

This screen illustrates the solution.

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T24 Teller

This screen illustrates the solution.

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T24 Teller

The TELLER application can also be used to record the transaction of two foreign currencies. For example, for the T24 Bank whose local currency is USD, the TELLER application can be used to accept the GBP currency for crediting a EUR currency account. For transactions in different foreign currencies, cross currency rates are used. Rules for such two foreign currency transactions must be pre-defined in the TELLER.TRANSACTION Table. Rules can also defined as to which type of account be allowed on the debit and credit sides. Say for currency exchange, only internal accounts are allowed on both sides. When both sides are foreign currencies, T24 defaults the cross currency rate for the transaction automatically. When transferring money between accounts, it is also possible to manually input a value date for the debit and / or credit. T24 always defaults the system date as the value date. The value date is significant for interest calculation purposes. The Value date is the date on which the interest will start to accrue. The value date can be a back date or a future date. When a user inputs a transaction, say on December 10 with a value date of December 9, interest will be calculated on the transaction amount effective December 9 even though the transaction entries are passed on the December 10. Temenos University - June 2012

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T24 Teller

In this workshop, we will input a Local Currency Transaction in a Foreign Currency

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T24 Teller

This is the first one

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T24 Teller

This is the second one

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T24 Teller

In this workshop, we will buy Foreign Currency Against Local Currency

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T24 Teller

This is the process.

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T24 Teller

We will now see how to transfer Money between tills

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T24 Teller

Transfers between two tills can be done at any time during the day to meet the needs on cash. The IDs of both the till from where cash is transferred and the till which receives the cash are to be indicated. The amount and the currency of the cash transfer also need to be specified on the transaction. T24 maintains an internal account for cash by currency and by till. Before opening or closing a till in a Bank, it is common practice to transfer funds from the vault to a till or from a till to the vault by the tellers. These transactions are authorised through Head Teller operations.

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T24 Teller

In this workshop we will input a till transfers

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T24 Teller

This is the screen to input the transfer in local currency

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T24 Teller

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T24 Teller

In this workshop we will input a till transfers

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T24 Teller

This is the screen to input the Till to Vault transfer

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T24 Teller

We will now learn about the till closure

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T24 Teller

At the end of the day, all the tills are closed after transferring cash from the Tellers to the Vault. Some Banks may permit petty cash to be held with the Teller. Closing of the Till involves the physical counting of cash, balancing it with the balance as indicated on T24 , identifying and managing overages and shortages and the physical closing of the tills. Closing a till allows the teller to balance the actual contents of the till against the balance held by T24. While closing, the teller is prompted for the till balance in each currency and this is compared with currency balance as maintained by T24 as Till balance. Any differences, if approved, can be transferred to an Internal account as a Cash Overage or as a Cash shortage. The next day, the same till could be allotted to the same Teller or to another Teller.

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T24 Teller

This workshop covers the closing of a till

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T24 Teller

This is where we set the till to the Close status

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T24 Teller

Here, you can check the cash balances of the till

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T24 Teller

Our next topic is Parameter tables

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T24 Teller

In the TELLER.DENOMINATION table, all denominations are entered for a currency – be it for the handling of cash or Travelers cheques. Denomination will be defaulted in the TELLER and TELLER.ID applications. TELLER.PARAMETER is the top level parameter file that defines general rules, category and transaction codes to be used for Teller System. The ACCOUNT.CLASS table is used to define the product category, which is used to issue passbooks instead of statements. In ACCOUNT.CLASS , a record called SAVINGS has to be defined. A Category for the market exchange is defined in the table. The TELLER.TRANSACTION table defines the default values and validations for each Teller transaction like accounts to be used, currency markets for each leg of the transaction and charges to be applied. The TELLER.ID application is used to open tills, assign users to tills and close and balance tills. The Format for passbook can be defined in TELLER.PASSBOOK. Advices can be printed from any Teller transaction. Format and the content is user definable by means of the DEAL.SLIP.FORMAT utility. This Utility essentially describes what data should be extracted from the deal and where on the advice the information should be printed. The APPL.GEN.CONDITION application can be used to allocate group codes based on a number of defined conditions or it could be a local routine for any T24 application with a STANDARD.SELECTION record. TT.GROUP.CONDITION can be set up to create default conditions regarding charges to be applied and any rate spread.

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T24 Teller

Using the Teller application we will be able to print details in the passbooks and also issue deal slips.

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T24 Teller

The transactions that are allowed to be captured in the Teller module are defined in a Table called TELLER.Transaction. The TELLER.ID application is used to assign, open and close tills TELLER.PASSBOOK is used to define the passbook format

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T24 Teller

The DEAL.SLIP.FORMAT file allows you to define the layout and the content of printed deal slips within the T24 system. A deal slip, in this context, is any printed output which can be produced at the input stage of a contract. The APPL.GEN.CONDITION application can be used to allocate group codes based on a number of defined conditions and/or local routines for any T24 application with a STANDARD.SELECTION record. A Record with the ID of TELLER can be defined to frame rules for grouping different customers for different concession purposes. The TT.GEN.CONDITION Table is used to form groups based on conditions prescribed in the APPL.GEN.CONDITION Table for the TELLER application.

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T24 Teller

Finally we will cover the enquiries available

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T24 Teller

Cash position by till displays the cash position by currency of each teller. Cash position by currency displays the currency wise total cash position of all tellers. Account Balance displays a list of accounts with balances. From this list, the user can drill down to view the accounting entries for the day, entries since last statement and forward movements in the account.

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T24 Teller

Here are some enquiries for cash position

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T24 Teller

Here is an example of an account balance summary

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T24 Teller

With the Entries of today

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T24 Teller

1) None 2) Not required as some banks might decide that petty cash can be kept with the staff 3) Currency 4) Blank – a Vault has no status 5) Teller Transaction 6) Teller.Denomination

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T24 Customer

Here is what we have learned in this teller course.

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T24 Customer

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