Cheque liablity creation for POSB Maturity/interest payment

Cheque liablity creation for POSB Maturity/interest payment

Account holders have the flexibility to close their accounts either before or after maturity, using various payment methods. Here are the available options:

• Cash (for amounts less than Rs. 20,000)
• POSB credit
• Interest credit
• Credit from other banks
• Cheque (requires creating a liability in the SAP module)

To ensure a seamless process, follow our step-by-step guide on creating a liability in the SAP module for cheque payments.

Step-by-Step User Guide for Creating Liability in SAP

1. Invoke F-02 in SAP Module

• Login to the SAP Module.
• Invoke the Tcode F-02.

2. Fill in the Following Details:

• Document Date
• Posting Date
• Type: DR
• Company Code: DOPI
• Currency Rate: INR

3. First Line Item

• Pstky: 40 (Debit Entry)
• Account: 4200030013 (GL for Postmaster Cheque Account)
• Press Enter.

4. Enter POSB Maturity/Interest Amount

• Amount: [Enter the maturity/interest amount to be paid to the Post Office Savings Bank Customer]
• Click on ‘More’ to enter the Profit Center, then press Enter to update the Profit Center and return to the main screen.

5. Next Line Item

• Pst Ky: 11 (Credit Memo)
• Account: 7000000xxx (One time PBS Customer). [Click here to download PBS one-time Customer of your Circle]
• Press Enter.

6. Fill in Customer Details:

• Title
• Name
• City
• Pincode (Postal Code)
• Country: IN
• Press Enter and re-enter the amount.

7. Simulate and Post the Document

• Press Shift+F9 or click on Document > Simulate to review.
• Press Ctrl+S or click on Document > Post.

8. Note Down the Document Number

• Make sure to note down the Document Number for future reference.

For Cheque Issuance:

• The Postmaster/SPM can issue a cheque directly using transaction F-58 if the Post Office is a Cheque Issuing Office.

For Other Sub Offices:

• The SPM should raise a request for issuing a cheque to the concerned Head Post Office using transaction ZF110.

Cheque Requesting Process:

1. Invoke ZF110 in SAP Module
   • Click on ‘CQ Request Initiation’ and press Enter.
2. Fill in the Following Details:
   • Customer: 7000000xxx. [Click here to download the PBS one-time Customer of your Circle]
   • Fiscal Year: 2024
   • Document No: Enter the liability document created
   • Press Enter and submit the request.

Approval Process:

• Login as SPM:
  • Invoke transaction ZF110 and go to the Approval section.
  • Approve the request.