Treasury management processing

One of the major enhancements in the development of Curtains Too is the cash handling interface, namely treasury management.

This program offers monitoring of teller floats as well as overall cash balances of the credit union ("Treasury").

Funds can be transfered between tellers as well as treasury to tellers. The pivotal function offered in construction of amount being deposited into the bank. No longer is it assumed that all funds deposited into the credit union will be lodged, as more and more credit unions recycle cash collected. For treasury to be activated, you must check ( ) the option within Credit union maintenance.

The management function also offers treasury analysis per branch. (see Branch maintenance and Teller control)

It is essential the credit union has manual procedures and controls in place to independantly verify the figures held within treasury at any stage.

A typical day of usage with Treasury Management.

Say for example that all Teller Floats and Treasury Totals are set to zero.

You cash a cheque for £1000 to have cash on the premises. To achieve this you would use the [Draw down from bank] shortcut. You'll be asked for reference (e.g. cheque number), source nominal (e.g. 2500), branch code if applicable and then amount (e.g. £1000). Ensure the value is a positive as by virtue of the mechanics of this draw down, we will credit the code entered and debit the treasury default nominal code (e.g. 2610). This mechanism can also be used to record cash over and shortages, (although with cash shortages you'll need to enter the value as a negative). Like most instances where a nominal posting is made, an audit trail will be produced.

To issue tellers with their floats, you have to use the [Transfer of Cash] shortcut. Transfer of cash allows you to record cash from treasury to tellers, cash from teller to treasury and cash from teller to teller. You be required to complete who the tellers are, the flow of cash direction and the amount being transferred. In this example we'll transfer £400 to a teller named Kesho from Treasury. A transfer slip is generated which both parties should sign.

As the teller transacts, funds are being instantly recorded against their teller record within the treasury analysis.

A useful little tool that tellers can access is called {Teller/treasury reconciliation}. This is located under the Help menu option. Ensure your tellers are allocated this program via the {Menu Priorities program}, also located under the Help menu option. This allows the user to feed in the quantity of notes and coins they have, relevant to the denomination to arrive back at their present cash total. The user will also see an abridged listing of payments in and out. A useful print facility also exists.

At the end of the tellers session, they might transfer their cash float back to treasury. Again this would be via [Transfer of Cash]. If the teller received any cheque deposits, these would be transferred via [Transfer of cheques]. Within this function a list of cheques are displayed. Simply highlight the cheque and click [>] to deposit these cheques with treasury or click [>>] to transfer all cheques. As previously mentioned a slip will be printed for signing.

It is worth mentioning, that there is no effect on the current account or on the bank reconciliation, with the aforementioned transactions. When the audit is printed and cleared, with treasury activated the double entries for all postings will be the treasury nominal account as specified in {Credit Union Maintenance}, normally 2610.

If at the end of the day, it is decided that the cheques with treasury will be deposited with some cash as well, then the user responsible for banking and treasury in effect would use the [Construct bank pay-in] shortcut. Stage 1 is to highlight the cheques that you are going to bank. After this, you would click the button [Click here when finished tagging cheques]. You then complete what looks like a nominal posting, entering date (automatically suggested), document reference (automatically numbered and suggested for you), bank nominal code (e.g. 2500), the amount of cash being banked, the amount of cheques being banked (automatically entered from your activity at stage 1) and then click save. You will then have a rather tidy pay-in slip produced for you as well as a nominal audit trail as the funds are at this stage being transferred from the treasury nominal account (e.g. 2610) and lodged with the bank account specified (usually 2500). An item is then added onto the register of un-reconciled items on the bank reconciliation.

Shortcuts

Click here to view a list of treasury transactions.

The deposit funds into treasury system (and treasury nominal) will reuire a withdrawal from the credit union's bank account. If you print cheques from Curtains, you will have an additional step of doing cash book posting to a holding nominal account (e.g. 2609). Then when processing the draw down, rather than specify the current account (e.g. 2500) you would use the holding account as the source nominal. A nominal audit will be produced.

You can also use this function to record cash unders/overs too.

Click to see a list of all tellers and the cash and cheques each teller has processed.

As a precurser to cheques being deposited into the credit unions bank, cheques must be transferred from tellers to the treasury. Simply click the items that are being transferred.

Clicking this button will open up a posting window at the bottom, where the user can action the transfer of funds between tellers or between tellers and treasury. A printed receipt will be produced which tellers should sign.

This function allows the relevant person to decide how much cash and how many cheques should be deposited into the credit unions bank account. The system will produce a pay in slip in addition to a nominal audit trail.