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Source & Destination Line Items

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  • Re: Source & Destination Line Items

Source & Destination Line Items

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RyanC
RyanC Star Employee
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on ‎26-08-2016 01:12 PM

on ‎26-08-2016 01:12 PM

Source & Destination Line Items

It would be great if there was a category for destination or source line items that could be edited by both the Practitioner and the Bank.

 

For example, the outgoing Bank is collecting full proceeds. The practitioner would create the line item including the total figure to be collected, then the Bank would go in and complete the account details for where it is to be paid.

 

A similar process for when the incoming Bank is providing the full proceeds would be great. The practitioner would complete the source line item including the figure to be provided by the Bank, and the Bank would then go in and confirm the details on where the funds are coming from, plus verification and authorisation of the funds.

 

This would eliminate the need to advise figures via the conversation tool and be more in line with how banks collect/provide funds in paper.

Category:
  • Banks and Financial Institutions
  • Financial Settlement
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Ames
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on ‎26-08-2016 01:39 PM

on ‎26-08-2016 01:39 PM

Re: Source & Destination Line Items

Great idea! I'd love to hear what other Community members think!

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Leisa
Leisa
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on ‎29-08-2016 12:17 PM

on ‎29-08-2016 12:17 PM

Re: Source & Destination Line Items

Great idea - definitely keen to have that option.

 

Both parties would benefit from this as would reduce conversations going back and forth.

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RPaterson
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on ‎07-09-2016 12:32 PM

on ‎07-09-2016 12:32 PM

Re: Source & Destination Line Items

Ryan, what a fantastic idea.  It would definitely save time and would eliminate any issues with shortfall of funds due to no authority held by the bank and the bank could also pay the vendor direct from PEXA and collect the payout   Love it.

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GraceChallengeSettlements
GraceChallengeSettlements
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on ‎07-09-2016 03:42 PM

on ‎07-09-2016 03:42 PM

Re: Source & Destination Line Items

Great idea, I think that this would save all parties a lot of time. 

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AngellaC
AngellaC Star Employee
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on ‎08-09-2016 07:43 PM

on ‎08-09-2016 07:43 PM

Re: Source & Destination Line Items

I think this is a great idea that would save a lot of time and conversations for all parties when trying to balance the FSS for a settlement.

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DonnaR
DonnaR
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on ‎13-09-2016 02:46 PM

on ‎13-09-2016 02:46 PM

Re: Source & Destination Line Items

Great Idea Ryan, would save a lot of time. Think it would be good for the banks as well as our side.

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KatherineH
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on ‎27-09-2016 04:57 PM

on ‎27-09-2016 04:57 PM

Re: Source & Destination Line Items

This is a great idea, as it gives the practitioner more control in completing the financial settlement schedule. It would also mean that the Sources/Destinations would balance a lot earlier as there would be no waiting for the Banks to input the figures. 

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