Nostro Bank Function - Fields Description

At this function, user will come across various fields or columns that needs to be maintained with relevant data.

The descriptions of the respective field or column, are as follows:-

Bank Nostro Maintenance (Panel)

<Nostro Bank Search Criteria> (Sub-Panel)

Nostro ID

This is the unique identification number of the respective Nostro Bank of the bank or financial institution.

Account No.

This is the reference number of the current account, that the bank or financial institution held in a Nostro bank (an agent bank).

Nostro Description

This is the description of the respective Nostro Bank of the bank or financial institution, e.g., Malayan Banking Berhad.

<Nostro Banks Listing> (Sub-Panel)

Bank Code

This is the code of the respective Nostro Bank, e.g., e.g., MBB - Malayan Banking Berhad.

Nostro ID

This is the unique identification number of the respective Nostro Bank of the bank or financial institution.

Nostro Description

This is the description of the respective Nostro Bank of the bank or financial institution, e.g., Malayan Banking Berhad.

Ccy

This is the code of the currency used in the respective Nostro Bank, e.g., MYR - Malaysian Ringgit.

Nostro Account No.

This is the reference number of the current account, that the bank or financial institution held in the Nostro bank (an agent bank).

Status

This is the status of the respective Nostro Bank.

The options, are as follows:-

  • A - Active (Nostro bank code will be made available for selection during transaction)

  • I - Inactive (Nostro bank code will not be available for selection during transaction)
<Bank Nostro Details> (Panel)

Bank Code

This is the code of the respective Nostro Bank, e.g., e.g., MBB - Malayan Banking Berhad.

Nostro ID

This is the unique identification number of the respective Nostro Bank of the bank or financial institution.

Ccy

This is the code and description of the currency used in the respective Nostro Bank, e.g., MYR - Malaysian Ringgit.

Nostro Description

This is the description of the respective Nostro Bank of the bank or financial institution, e.g., Malayan Banking Berhad.

Banking Concept

This is an indicator of the financial concept, e.g., C - Conventional, applicable to the transaction with the NOSTRO bank (agent bank).

Status

This is the status of the respective Nostro Bank.

The options, are as follows:-

  • A - Active (Nostro bank code will be made available for selection during transaction)

  • I - Inactive (Nostro bank code will not be available for selection during transaction)

Account No.

This is the reference number of the current account, that the bank or financial institution held in a Nostro bank (an agent bank).

GL Segment Scheme

The main purpose of having the general ledger (GL) segments is to ensure that only a smaller number of GL accounts needs to be created in the chart of accounts of the General Ledger (GL) system, to associate with attributes of the respective GL account, such as currency, branch and cost centres. Thus, this is the applicable scheme of attributes for the related journal GL accounts to be associated with, for the related transactions' accounting entries to be captured.

The available options are dependent on the schemes that can be pre-maintained at the GL Segment Scheme function.

GL Code

This is the journal GL account number to be used for a bank, or financial institution to capture the accounting entries of the inter-bank transactions with the respective Nostro bank.

The available options, can be pre-maintained at the 'Journal GL' function.

Itemised GL

This is an indicator that the accounting entries of the transactions with the respective Nostro Bank, are to be itemised for general ledger records purpose.

The available options, are as follows:-

  • Yes (To itemise GL)

  • No (Not to itemise GL)

For Cash

This is to indicate that the GL account number inputted at the GL Code field is a Cash GL account number for Cash mode transactions with the Nostro Bank.

The available options, are as follows:-

  • Yes (will be displayed as a clearing bank code during cash transaction)

  • No (will not be displayed as a clearing bank code during cash transaction)

For TT

This is an indicator that the respective Nostro Bank allows user to perform Telegraphic Transfer (TT) transaction.

The available options, are as follows:-

  • Yes (will be displayed as a clearing bank code during TT transaction)

  • No (will not be displayed as a clearing bank code during TT transaction)

For Demand Draft (DD)

This is an indicator that the respective Nostro Bank allows user to perform Demand Draft (DD) transaction.

The available options, are as follows:-

  • Yes (will be displayed as a clearing bank code during DD transaction)

  • No (will not be displayed as a clearing bank code during DD transaction)

For Cheque

This is an indicator that the respective NOSTRO Bank (agent bank) allows Cheque (CHQ) transaction.

The available options, are as follows:-

  • Yes (will be displayed as a clearing bank code during Cheque transaction)

  • No (will not be displayed as a clearing bank code during Cheque transaction)

Remarks

This is the additional details concerning the respective Nostro bank.