COM123010 - Repayments / reallocations: repayment cancellation: stop repayment
Sometimes you may need to stop the overnight processing of a repayment. You do this by using Function SREP (Stop Repayments) before the cut off for processing of repayments (4 pm).
The cut off will normally be the same day as the day the repayment is created but it will be 4pm the next working day if the repayment is created on a Saturday, Sunday or a Bank Holiday.
This function can only be used where the repayment status (Word 35KB) is
- Risks Apply - Authorised
- Authorised Automatically
- Awaiting Manual Issue
This function can not be used for
- Repayments with a status of Risks Apply - Unauthorised. (Repayments with this status can be cancelled by the Repayment / Reallocation Authoriser using Function PRKR)
- Repayment of additional repayment interest
- Repayments created by Debt Management & Banking
The whole repayment will be stopped in cases where the repayment is
- For more than one AP which have been linked together
And / or
- Made up of a combination of tax, interest and penalties
When Function SREP has been used to stop a repayment
- The repayment will be removed from the overnight processing request list, (the issue of the cheque will be stopped)
- The repayment postings in Function VPPD (View Payments and Postings Details) will be reversed
- The repayment status will be changed to ‘Repayment Stopped’
- The repayment will be posted to work list LOPD (Overpayments Review List)
For a list of functions to use in particular situations, see COM123011.
