Browse Prior Art Database

System and method for Teller Cash Accounting

IP.com Disclosure Number: IPCOM000200306D
Publication Date: 2010-Oct-05
Document File: 6 page(s) / 201K

Publishing Venue

The IP.com Prior Art Database

Related People

K S Rajasekaran: INVENTOR

Abstract

This disclosure proposes a system and method for teller cash accounting. As per the method disclosed, tellers have specific accounts defined for them. All cash transactions can go only through these accounts. This is for any currency to which the tellers will have access and authority to do transactions.

This text was extracted from a PDF file.
This is the abbreviated version, containing approximately 48% of the total text.

Page 01 of 6

System and method for Teller Cash Accounting

BACKGROUND OF THE DISCLOSURE

[0001]Teller operations, in any bank branch, are critical and important operations. Due to large volume of transactions and also the involvement of cash, the tellers have restricted timings to have the operations and also some time for reconciliation. Here, not only system side transaction posting and matching but also tallying of physical cash with that of teller cash account balance.

[0002]Each teller when they receive or pay cash, it needs to be accounted in the system as a financial transaction. At any point in time, the teller balance should reflect the physical cash available with the teller. The number of tellers required for day to day operations or during peak period depends upon the volume and the nature of the branch. The system should facilitate, by having tellers, accounting cash accordingly so that cash tallying with or without denomination is not difficult. Capturing of the denomination is useful for tallying. However, the time consumed during peak hour justifies without the denomination during transaction and denomination details capturing during final teller cash tallying time.

[0003]Conventionally, it is difficult to add more tellers, because accounting may not be possible. A provision to have only teller accounting or only through common daily branch cash account or the combination of both may not be possible

[0004]Also, cash balance under teller accounts need to be transferred to the main account mandatorily. There may be no option may to have the balance in the same account and continue the next day (with the balance as the opening balance). Further, online verification of physical cash may not be possible due cash balance maintenance during transaction.

1


Page 02 of 6

ABSTRACT OF THE DISCLOSURE

[0005]This disclosure proposes a system and method for teller cash accounting. As per the method disclosed, tellers have specific accounts defined for them. All cash transactions can go only through these accounts. This is for any currency to which the tellers will have access and authority to do transactions.

DRAWINGS

[0006]These and other features, aspects, and advantages of the present disclosure will be better understood when the following detailed description is read with reference to the accompanying drawings in which like characters represent like parts throughout the drawings, wherein:

[0007]FIG.1 is a screenshot for declaring the type of the cash account; and

[0008]FIG. 2 is a screenshot for transactions for a teller account.

DETAILED DESCRIPTION

[0009]The disclosure provides a system and method to handle cash transaction as pure teller based transaction or common branch cash account based or the combination of both teller and branch cash account. The system provides one to one linkage and control on cash and teller cash account, and facility to retain balance in the cash account after end of day and before the next begin day....