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Improper Accounting Entries Flow For Cash Withdrawal Transaction With Sweep Account (Doc ID 3002052.1)

Last updated on FEBRUARY 06, 2024

Applies to:

Oracle FLEXCUBE Universal Banking - Version and later
Information in this document applies to any platform.


Improper accounting entries flow for Cash withdrawal transactions with sweep account

Cash Withdraw Transaction is initiated with the Primary Account which has no balance and its Cover Account has some balance.
Now system posts the debit transactions from the primary first and then the credit transaction from the cover account to the primary account.

According to the standard functionality, the system should post 2 sets of accounting entries
Set 1:
Debit Linked Accounts (To the extent of shortfall amount)
Credit CASA Account (To the extent of shortfall amount)
Set 2:
Debit CASA account (Transaction amount)
Credit Target account (Transaction amount)

The issue can be reproduced at will with the following steps:
1.Do Cash withdrawal with sweep account (primary account -no balance, cover account - have balance)
2. Verify the accounting entries posted.


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