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In case the charge is borne by the beneficiary then the following entry is passed
Dr./
Cr.
Accounting Role
Amount Tag
Settlement Account/Beneficiary for Consolidated
amount
CHARGE COMPONENT
Debit
MT102 Suspense GL (Outgoing) for Consolidated
Charge Amount
CHARGE COMPONENT
Credi
t
Payment Message for Multi Credit Transfer contracts will not be generated during contract
authorization. The above entries would be passed using “Consolidated Accounting Entry”
Reference number. The transaction codes used for these Accounting Entries would be picked
up from Accounting Entries defined for the FT product. In case of multiple charges one pair
of entries will be passed for each charge component. In case Netting is true for the accounting
entries defined then netted entries would be passed.
Accounting entries for Multi Financial Institution Transfer
In the case of Multi Financial Institution Transfer, consolidated accounting entries will be
passed after the generation of MT203 message. The entries will be posted using
‘Consolidated Accounting Entry’ Reference number which was used for consolidation. The
Transaction codes for the accounting entries will be selected from the Product Accounting
Entries defined for the FT product. If ‘Netting’ has been enabled for the accounting entries,
netted entries will be passed. CINT is not maintained at the product level. They are
automatically triggered for a MT102/ MT203 kind of contract.
Accounting Role
Dr./Cr. Indicator
Suspense GL(Outgoing) for consolidated amount
Dr
Settlement/Beneficiary for consolidated amount
Cr
REVERSAL: Reversal of an Outgoing Multi Credit Financial Institution Transfer
During reversal process, accounting entries will be posted with the negative transaction
amount.
Case 1: Outgoing Payment for which MT 203 is not generated.
Accounting Role
Dr./Cr. Indicator
REMITTER
Debit
Outgoing Suspense
GL
Credit
The total consolidated amount will be adjusted and the corresponding contract will be
removed from the consolidation queue.
Case 2: Outgoing Payment for which MT 203 is already generated.
An override will be displayed stating the ‘Message has already been generated’. If you confirm
the override, Reversal will be effected.
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