COM122053 - Repayments / reallocations: non automatic reallocations: reallocation within COTAX - responsible CT office (Action Guide)

To reallocate an overpayment within COTAX

Steps 1 - 6

Payment credited to the wrong AP

Steps 7 - 11

1.

Use Function MRSC (Maintain Rept / Realloc Signals (Comp)) and select ‘Reallocations & Repayments’ from the drop down menu for the Inhibitions field before you create the overpayment (Word 35KB) 

2.

Create the overpayment

3.

Use Function VPPD (View Payment and Posting Details) to check the postings on the receiving AP and decide how you want to reallocate the overpayment

4.

Use Function REWD (Direct Reallocation Within COTAX) and choose the option ‘Reallocate a specific amount’ to make the reallocation

5.

If the receiving AP is not overpaid following the reallocation

• Use Function MRSC to set select ‘None’ from the drop down menu for the Inhibitions field

6.

If the receiving AP is overpaid following the reallocation

• Leave the entry in the Inhibitions field in Function MRSC as ‘Reallocations & Repayments’ until the liability for the AP is determined

7.

When you identify a payment has been credited to the wrong AP

• Use Function MAPS (Maintain AP Signals ) and select ‘Repayments & Reallocations’ from the drop down menu for the Inhibitions field

8.

Telephone the Banking Operations Office at once to explain what you have found and ask them to reallocate the payment to the correct AP

Note: Do not attempt to reallocate the payment yourself. If you do so you will generate spurious repayment interest (Word 80KB) (RPI)

9.

B/F the file for a short period

10.

When the file comes out on B/F

• Use Function VPPD to check if the reallocation has been made

11.

When the reallocation has been made

• Use Function MAPS and select ‘None’ from the drop down menu for the Inhibitions field for the AP, if there is no need to inhibit reallocations and repayments for any other reason