i-power Transaction Error Corrections & Reversals Last Revised: 9/12/16 Version:

i-power Transaction Error Corrections & Reversals Last Revised: 9/12/16 Version: 5.2.0.49 EPL, Inc. 22 Inverness Parkway Suite 400 Birmingham, Alabama 35242 (205) 408-5300 / 1-800-243-4EPL (4375) www.eplinc.com

Property of EPL, Inc., 22 Inverness Center Parkway, Birmingham, AL 35242 1-800-243-4375, (205) 408-5300, Fax (205) 408-5345 EPL, Inc. believes this document is accurate and reliable, and much care has been taken in its preparation. However, EPL, Inc. cannot accept any responsibility, financial or otherwise, for any consequences arising out of the use of this material. The information contained herein is subject to change. Revisions may be issued to advice of such changes or additions. The information and techniques contained in this document are the property of EPL and may not be disclosed in total or in part without the written permission of EPL, Inc. 2004 2016 EPL, Inc. All rights reserved.

i P a g e Contents OVERVIEW... 1 ERROR CORRECTIONS... 2 REVERSALS... 4 Same Day Reversal Same Teller... 4 Same Day Reversal Different Teller... 6 Previous Day Reversal... 7 REVERSALS FOR DEPOSIT AND LOAN ACCOUNTS... 10 Reversing a Loan Payment Transaction... 13 Reversing a Loan Add-On Transaction... 16

1 P a g e O v e r v i e w Overview Correction of an account transaction can be made from the Member History or the Electronic Journal (EJ) using Error Correction or Reversal. Error Corrections indicate members will not see that a correction has been made on the account. Once that correction has been made, it disappears from the member s history. For all intents and purposes, the error-corrected transaction never happened. Reversals accomplish the same thing removing an erroneous transaction but both the original transaction and the reversal remain on the account history. Loan Error Corrections/Reversals automatically update Last Payment Date, Next Payment Date, and Late Charge Date. Cash and Check transactions may only be corrected from the Teller Electronic Journal. Error Corrections and Same Day Reversals affect teller totals in the same as cash and checks. Error corrections and reversals are both initiated using the Delete ( ) Action icon. You do not have to specify Error Correction or Reversal; i-power determines which action is required based on the selected transaction.

2 P a g e E r r o r C o r r e c t i o n s Error Corrections An Error Correction is used to correct any transaction on a member s account or General Ledger account that are performed by the same teller on the same day and prior to any other transaction performed by another teller, EFT, or off-line transaction to the specific suffix(s). Error Corrections can only be performed on the last transaction for the suffix. For example, if a deposit is entered, then the member uses the ATM for the same account, an error correction can no longer be performed on the sharedraft deposit; the transaction must be addressed with a Reversal. Error Corrections are removed from the member s history; therefore, the transaction will not show up on the member s statement. Error Corrections cannot be made on Reversed Transactions. To perform a correction, access the member s account, and locate the transaction to be corrected. For this example, we ll look at a member s Check Cashing History. To perform an error correction: 1. From the i-power main navigation page, access the member s account. 2. From the member s account profile, access the history window of the suffix that is to be error corrected. 3. Click on the suffix and select History from the drop-down menu. 4. Select the Check Cashing History tab. 5. Click on the Reject ( ) Action icon to advance to the Error Correction window. In the Actions column in the above screen shot, the Reject ( ) Action icon is available for only one of the checks. That check transaction was entered during the current day and no subsequent transactions have been entered against that account; therefore, if a mistake was made, the transaction can be canceled using Error Correction. Once the branch runs its end of day routines, or once another transaction comes in afterwards, the transaction can no longer be removed by error correction. At that point, corrections must be addressed as a Reversal.

3 P a g e E r r o r C o r r e c t i o n s This screen displays only the transaction being corrected; make sure you ve selected the right transaction. 6. Select the Reversal ( ) Action icon to complete the error correction. The screen will notify you if any cash is due back to the customer. 7. Select Done to return to the History window. From there, select Cancel to exit the History screen and return to the member s account profile.

4 P a g e R e v e r s a l s Reversals A reversal accomplishes the same basic goal as an error-correction removing an erroneous transaction. The major difference between the two is that reversals are recorded in the member s history and will be included on the member s statement, whereas error corrections are the functional equivalent of pressing an Undo button. Reversals should be performed within the same statement period if at all possible. Reversals made for a previous day require entry of offsetting General Ledger information. Same day reversals adjust teller/drawer cash and check totals just like an error correction. There are three types of reversals: Same Day Reversal Same Teller Same Day Reversal Different Teller Previous Day Reversal Same Day Reversal Same Teller To perform a Same Day Reversal Same Teller reversal: 1. From the i-power main navigation page, access the member s account. 2. From the member s account profile, access the history window of the suffix that is to be reversed. 3. Select the Reject ( ) Action icon to advance to the Reversal window.

5 P a g e R e v e r s a l s This screen displays the transaction being reversed; make sure you ve selected the right transaction. 4. Select the ( ) Action icon to advance to the Override Errors window. Same Day, Same Teller Reversals require an override The top of the screen displays the Error Code, the Override Level required, and the error Description. Enter your Teller Number and Password and select Post to complete the reversal. 5. The Reversal Complete screen will display. 6. Select Done to return to the History window; from there, select Cancel to exit the History window and return to the member s account profile. Same day reversals will adjust Teller/Drawer totals as if an Error Correction has made.

6 P a g e R e v e r s a l s Same Day Reversal Different Teller Sometimes it becomes necessary for a different teller to enter a reversal than the teller who entered the initial transaction. To perform a same day reversal different teller: 1. Access the member s account. 2. From the member s account profile, access the history of the suffix that is to be reversed. 3. Select the Reject ( ) Action icon associated with the transaction to be corrected to advance to the Reversal window. 4. Select the Reversal ( ) Action icon to advance to the Reversal Details window.

7 P a g e R e v e r s a l s 5. Enter a Transaction Description, the Effective Date if different from the current processing date, the GL Account number, the GL Account Description, and then select Done. 6. The Reversal Complete Message screen displays. Select Done to return to the History window, then exit the History. Previous Day Reversal If the transaction to be corrected was entered on a previous day, you will always perform a reversal. It does not matter which teller performs the reversal. Previous Day Reversals are similar to a Same Day, Different Teller Reversal in that offsetting GL information is entered instead of a teller override.

8 P a g e R e v e r s a l s Previous Day Reversals do not impact the cash drawer totals. To perform a previous day reversal: 1. Access the member s account. 2. From the member s account profile, access the history of the suffix that is to be reversed. 3. Select the Reject ( ) Action icon associated with the transaction to be corrected to advance to the Reversal window. 4. Select the Reversal ( ) Action icon to advance to the Reversal Details window.

9 P a g e R e v e r s a l s 5. Enter a Transaction Description, the Effective Date if different from the current processing date, the GL Account number, the GL Account Description, and then select Done. 6. The Reversal Complete Message screen displays. Select Done to return to the History window, then exit the History.

10 P a g e R e v e r s a l s f o r D e p o s i t a n d L o a n A c c o u n t s Reversals for Deposit and Loan Accounts For Deposit and Loan accounts, you can perform transaction reversals through the Corrections option. Within the Corrections option there are three types of reversals that can be performed: Deposit/Withdrawal Loan Payment Loan Add-On Users with the permission to access these menu options will not be required to have the original transaction to perform the correction. This feature would primarily be used by for special reversal conditions (such as? Also, does this refer to reversals in general, or just the fact that transaction #s are not required?). The Exception Flag, 689 Manual Reversal Requires an Override, has been added to allow these reversals. The override level will default to 5, but may be changed to limit who can perform these reversals. To Reverse a Deposit or Withdrawal Transaction: This procedure assumes you are on the i-power main screen or the member profile screen. 1. Select Back Office > Corrections > Deposit or Withdrawal. The appropriate Correction-Account Details screen displays. 2. Enter the Account, the Verify Letters (the first two letters of the member s last name), and the Suffix for which you wish to enter a reversal.

11 P a g e R e v e r s a l s f o r D e p o s i t a n d L o a n A c c o u n t s If the account number is not known, use the Search function ( ) to locate the account number by Last Name, SSN, Credit Card #, ATM/Debit card # or MICR #. Once the account has been selected, press the Search button to the right of the Suffix field to retrieve a list of suffixes associated with the account. 3. The Perform Correction screen displays. Perform Deposit Correction screen The Withdrawal Correction screen; it s pretty much identical to the Deposit Correction screen. Enter information in the Details and Voucher Details section as required by your credit union. Deposit Amount The amount of the correction. The amount can be positive or negative. Effective Date The date the correction is to be posted. The value will default from the Current Business Date in the lower right. The date can be changed if needed. Check/Receipt Number If a receipt or check is issued with the correction, enter the number here.

12 P a g e R e v e r s a l s f o r D e p o s i t a n d L o a n A c c o u n t s Transaction Description Brief description of the transaction. Print Account Number Select this checkbox to include the member account number on the receipt. GL Account Press the Search button to select from a list of available GL accounts to which the correction offset will be booked. GL Transaction Description A description of the GL transaction. This field is required. Branch Number The branch to which the correction will be booked. This value will default, and cannot be changed. Once you ve entered the appropriate information, select Done. 4. The Override Errors screen displays. You will always get one error on a manual reversal the override requirement. Errors requiring an override will display at the top of the screen. Enter the Teller Number and Password of a teller with sufficient privileges to override the listed errors, and select Done. 5. The Reversal Complete Message screen displays. Notice this is not a confirmation screen. The reversal has been completed. Select Done to return to the main i-power screen. The reversal will display on the account history.

13 P a g e R e v e r s a l s f o r D e p o s i t a n d L o a n A c c o u n t s Reversing a Loan Payment Transaction This procedure assumes you are on the i-power main screen or the member profile screen. 1. Select Back Office > Corrections > Loan Payment. 2. The Payment Correction Account Details screen displays: Enter the Account, the Verify Letters (the first two letters of the member s last name), and the Suffix for which you wish to enter a reversal.

14 P a g e R e v e r s a l s f o r D e p o s i t a n d L o a n A c c o u n t s If the account number is not known, use the Search function ( ) to locate the account number by Last Name, SSN, Credit Card #, ATM/Debit card # or MICR #. Once the account has been selected, press the Search button to the right of the Suffix field to retrieve a list of suffixes associated with the account. 3. The Perform Loan Payment Correction screen displays: Enter information in the Details and Voucher Details section as required by your credit union. Transaction Amount Principal Amount Interest Amount Late Charge Insurance Amount? Effective Date The date the correction is to be posted. The value will default from the Current Business Date in the lower right. The date can be changed if needed. Check/Receipt Number If a receipt or check is issued with the correction, enter the number here. Transaction Description Brief description Print Account Number Select this checkbox to include the member account number on the receipt. GL Account Press the Search button to select from a list of available GL accounts to which the correction offset will be booked. GL Transaction Description A description of the GL transaction. This field is required.

15 P a g e R e v e r s a l s f o r D e p o s i t a n d L o a n A c c o u n t s Branch Number The branch to which the correction will be booked. This value will default, and cannot be changed. 4. The Override Errors screen displays. Errors requiring an override display at the top of the screen. You will always get at least one error on a manual reversal the override requirement. Enter the Teller Number and Password of a teller with sufficient privileges to override the listed errors, and select Done. 5. The Reversal Complete Message screen displays: Notice this is not a confirmation screen. The reversal has been completed. Select Done to return to the main i-power screen. The reversal will display on the account history.

16 P a g e R e v e r s a l s f o r D e p o s i t a n d L o a n A c c o u n t s Reversing a Loan Add-On Transaction This procedure assumes you are on the i-power main screen or the member profile screen. To reverse a loan add-on transaction: 1. Select Back Office > Corrections > Loan Add-On. 2. The Add-On Correction-Account Details screen displays.

17 P a g e R e v e r s a l s f o r D e p o s i t a n d L o a n A c c o u n t s Enter the Account, the Verify Letters (the first two letters of the member s last name), and the Suffix for which you wish to enter a reversal. If the account number is not known, use the Search function ( ) to locate the account number by Last Name, SSN, Credit Card #, ATM/Debit card # or MICR #. Once the account has been selected, press the Search button to the right of the Suffix field to retrieve a list of suffixes associated with the account. 3. The Perform Correction screen displays. Enter information in the Details and Voucher Details section as required by your credit union. Add-On Amount The amount of the correction. The amount can be positive or negative. Effective Date The date the correction is to be posted. The value will default from the Current Business Date in the lower right. The date can be changed if needed. Receipt Number If a receipt is issued with the correction, enter the number here. Transaction Description Brief description Print Account Number Select this checkbox to include the member account number on the receipt. GL Account Press the Search button to select from a list of available GL accounts to which the correction offset will be booked. GL Transaction Description A description of the GL transaction. This field is required. Branch Number The branch to which the correction will be booked. This value will default, and cannot be changed. Once you ve entered the appropriate information, select Done. 4. The Override Errors screen displays.

18 P a g e R e v e r s a l s f o r D e p o s i t a n d L o a n A c c o u n t s Errors requiring an override will display at the top of the screen. You will always get at least one error on a manual reversal the override requirement. Enter the Teller Number and Password of a teller with sufficient privileges to override the listed errors, and select Done. 5. The Reversal Complete Message screen displays. Notice this is not a confirmation screen. The reversal has been completed. Select Done to return to the main i-power screen. The reversal will display on the account history.

19 P a g e R e v e r s a l s f o r D e p o s i t a n d L o a n A c c o u n t s