COM122064 - Repayments / reallocations: non automatic reallocations: reallocation out of COTAX - owning office (AG)
To reallocate a COTAX repayment to a liability outside COTAX, consider steps 1 - 9 below.
| 1. | Use Function MAPS (Maintain AP Signals) to select ‘Reallocations & Repayments’ from the drop down menu for the Inhibitions field against the AP for which the overpayment (Word 30kb) will arise |
| 2. | Create the overpayment |
| 3. | Use Function VPPD (View Payment and Posting Details) to check the amount of repayment available for reallocation |
| 4. | Determine exactly how much you want to reallocate from the COTAX record |
| 5. | Use Function REOD (Direct Reallocation Out Of COTAX) and choose the option ‘Reallocate a specific amount’ |
| 6. | Make the reallocation |
Notes: |
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Do not reallocate more than the known liability against which the reallocation is being made |
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The computer is not able to calculate repayment interest (Word 81.5kb) (RPI) when you use this function, as it cannot know when the effective date of the reallocation will be |
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The notes on the reverse of Form CT251 will help you to calculate any RPI due in respect of the amount reallocated |
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| 7. | Confirm the reallocation and make a note of the OAS reference number |
| 8. | Use Function MAPS and select ‘None’ from the drop down menu for the Inhibitions field |
| 9. | On the same day use the daily Envopak service to send a fully completed form CT251 to the Banking Operations Office |
| Note: Show on the form the amount of RPI you calculated at Step 6 above, as being applicable to the set off. | |
| Where a balance is available for repayment ask the Banking Operations Office to | |
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