The cancellation of money transactions, similarly to the change of requisites prior payment, is an action that is classified by the good practices as unusual and risky. The presence of operational and financial risk, in short, is in the desire to cancel an already confirmed action that has led to the execution of certain financial transactions (cash or cashless).The good practice in these cases requires a second control, where the action to be implicitly verified and validated. The second control may be exercised by another employee in your organization with a special role - the right to check and confirm pending cancellations. When managing postal money transactions, for example, the second control is usually carried out by a special unit, which is geographically located elsewhere. |
The basic cancellation functionality requires minimum efforts on behalf of the initiator who wishes to inflict the cancellation of postal money transaction. The example below illustrates the cancellation of a postal money transaction to a legal entity. Pressing the "Cancel" button does not trigger an actual action, only marks the entry for verification. Observe the working status of the transaction Record - the status will guide you whether you can request a cancellation or make one. Below, a Special Rights Specialist can review and confirm money transaction for cancellation. You, as a user with the rights to review and approve cancellations, can do the necessary research and gather information about the reasons that led to the cancellation claim. At some stage it is necessary to mark your final decision in the System. The example below shows the confirmation of a claimed cancellation. Note that: 1)Confirmation mandatory requires a reason to be included in the transaction Record; 2)The confirmation does not trigger a financial transaction, but merely confirms that the initiator can continue. In the real practice this means that the cancellation of a transaction will be completed at the Post office branch where it occurred. After confirmation, the control of the transaction is returned to the initiator. Money transaction working status is changed to "Cancellation pending". This status indicates that pressing the "Cancellation" button you will perform an actual action that can trigger an appropriate fiscal and / or other accounting operation. |