Endpoint is the clearing intermediary, is the super-set of correspondent bank and automated clearing house.
Endpoint code: Endpoint code is a manually generated unique number representing the clearing house / correspondent bank code.
GL Inward Account: Credit entries are passed in this GL during inward clearing. The balance in this GL represents the amount owed by the bank to the clearing house due to inward clearing instruments. This is a liability type GL.
GL Inward Returns Account: Debit entries are recorded in this GL when inward clearing cheque get rejected. The balance in this GL represents the amount owed by the bank to the clearing house due to inward clearing return instruments. This is an asset type GL.
GL outward Account: Debit entries are passed in this GL when a cheque goes for outward clearing. The balance in this GL represents the amount owed by the clearing house due to outward clearing instruments. This a an asset type GL.
GL outward returns Account: Credit entries are recorded in this GL when outward clearing cheque get rejected. The balance in this GL represents the amount returned to the clearing house due to outward clearing instruments. This is a liability type GL.
CFC Credit GL: The credit entries for Cheque For Collection(CFC) are recorded in the GL. At the time of running outward clearing, the CFC credit GL is credited for the value of cheques and contra is passed to the endpoint GL. on the customer value date for the instrument, during value date clearing, the CFC debit GL is debited and the CASA account is credited. This is a liability type of GL.
CFC Debit GL: At the time of running outward clearing, the CFC credit GL is credited for the value of cheques and the contra is passed to Endpoint GL. On the customer value date for the instrument, during value date clearing, the CFC debit GL is debited and the CASA account is credited. This is an asset type of GL.
Correspondent Bank Name: The correspondent bank which is donging the clearing.
Transit GL: The transit GL code.
Is Correspondent bank or not: when the clearing will happen through a correspondent bank.
Electronic Clearing: If the Endpoint supports electronic clearing.
Endpoint code: Endpoint code is a manually generated unique number representing the clearing house / correspondent bank code.
GL Inward Account: Credit entries are passed in this GL during inward clearing. The balance in this GL represents the amount owed by the bank to the clearing house due to inward clearing instruments. This is a liability type GL.
GL Inward Returns Account: Debit entries are recorded in this GL when inward clearing cheque get rejected. The balance in this GL represents the amount owed by the bank to the clearing house due to inward clearing return instruments. This is an asset type GL.
GL outward Account: Debit entries are passed in this GL when a cheque goes for outward clearing. The balance in this GL represents the amount owed by the clearing house due to outward clearing instruments. This a an asset type GL.
GL outward returns Account: Credit entries are recorded in this GL when outward clearing cheque get rejected. The balance in this GL represents the amount returned to the clearing house due to outward clearing instruments. This is a liability type GL.
CFC Credit GL: The credit entries for Cheque For Collection(CFC) are recorded in the GL. At the time of running outward clearing, the CFC credit GL is credited for the value of cheques and contra is passed to the endpoint GL. on the customer value date for the instrument, during value date clearing, the CFC debit GL is debited and the CASA account is credited. This is a liability type of GL.
CFC Debit GL: At the time of running outward clearing, the CFC credit GL is credited for the value of cheques and the contra is passed to Endpoint GL. On the customer value date for the instrument, during value date clearing, the CFC debit GL is debited and the CASA account is credited. This is an asset type of GL.
Correspondent Bank Name: The correspondent bank which is donging the clearing.
Transit GL: The transit GL code.
Is Correspondent bank or not: when the clearing will happen through a correspondent bank.
Electronic Clearing: If the Endpoint supports electronic clearing.