Purchasing a Traveler's Check and Miscellaneous Forms

The Traveler's Checks and Miscellaneous Tracked Forms tab lets you sell traveler's checks, track generic/miscellaneous forms for tickets, gift cards, etc., and assess a fee. After a form is set up in Forms Management using master code GOMI, it will automatically appear in the Traveler’s Check Type drop-down list in form number order.

The system calculates the fee based on the criteria specified on the Product Code Information window for the linked traveler's check fee product code. The fee can be a fixed amount or a percentage of the total transaction amount. You can also split the traveler's check fee between income and payable general ledger accounts.

The bottom half of the Traveler's Checks and Miscellaneous Tracked Forms tab is a credit union-defined screen and can actually display different product code options for each teller.

To sell traveler's checks, enter the form number, the amount, and the serial number for each traveler's check. The system automatically calculates the fee amount and the total transaction amount and displays this information. You can then indicate the payment method.

To access the Traveler's Checks and Miscellaneous Tracked Forms tab, under Financial Activity on the Portico Explorer Bar, click Financial Transactions. The Transactions tab appears on top. Locate the member using the search tool on the top menu bar. Select the down arrow to select the search method, then enter the search criteria. Select the green arrow or press ENTER to locate the member.

On the Transactions tab, click the down arrow next to the first drop-down box and select T-Traveler's Checks.

Transactions - Traveler's Checks

How do I? and Field Help

To verify a member using the Documents Presented as ID dialog box, click the Documents Presented as ID icon.

The Effective Date field will default to today's date. You can change the effective date by clicking the Effective Date down arrow to select a date from the pop-up calendar or entering a date in MM/DD/YYYY format (Keyword: ED). Dividend and interest calculations are based on this effective date. While future effective dating is not allowed on most transactions, you can specify a future effective date on some transactions.

To purchase a traveler's check, click the Traveler's Check Type down arrow and select the type of traveler's check. In the Serial Number field, enter the serial number of the traveler's check (Length: 14 numeric). Then, click the right arrow to add the money order to the list box. You can enter a maximum of 15 traveler's checks on one transaction.

If your credit union uses Forms Management, the serial number you enter must appear in the forms inventory for your drawer location. The serial number must also fall with the range of acceptable serial numbers as specified in the Serial Number Control Variance field on the Form Information window. From time-to-time, you may need to override a sequence of forms due to variance warnings. If the serial number does not fall within the specified range, you must select the Override check box. After adding a money order to the list box, you can double-click the form in the list box to add the Override text next to the form. A second double-click will remove the Override text next to the form in the list box.

Use the fields in the Transaction Area to complete the share deposit. A From/To Difference amount will appear in the grid heading until the From and To amounts are equal.

The Traveler's Check Transaction Area lets you complete the purchase for a member.

Column Heading	Description
From Product	In the From Product column, select the payment method (checks received, cash received, cross account transfer, share account, share draft account, or loan advance).
From Amount	Enter the cash, check, or transfer amount that will be used to purchase the traveler's checks, including decimal. Length: 10 numeric If you selected cross account transfer, the From Member column will appear. Enter the member number or click the member lookup button to open the Member Search window and locate a member. If you selected cash, the Cash Received dialog box will pop up automatically when the cursor is in the From Amount column. You can also access the Cash Received dialog box by clicking the CR button in the transaction area grid. You can activate the Cash Received dialog box on the User Profile – Popups tab. If you selected check, the Check Log dialog box will pop up automatically when the cursor is in the From Amount column. You can also access the Check Log dialog box by clicking the CL button in the transaction area grid. You can activate the Check Log dialog box on the User Profile – Popups tab. Type d or D in the From Amount column to populate the field with the default amount defined for the product on the Product Code Information window. This shortcut will work for any product code that has a default amount greater than 0.00 regardless of the master code.
From Functions	Enter the general ledger account number or click the down arrow to select the loan note number or a valid IRA withdrawal code. Click here to view the valid IRA withdrawal codes. If you selected a share account that supports Reg D activity, you can type Y in the Functions column to increment the Period-to-Date Reg D Txns counter on the Shares - Activity tab.
To Product	Select the TQ Traveler's Check Purchase product.
To Amount	The total amount of the traveler's check(s). Length: 10 numeric. Type d or D in the To Amount column to populate the field with the default amount defined for the product on the Product Code Information window. This shortcut will work for any product code that has a default amount greater than 0.00 regardless of the master code. The From/To Difference field provides a running total of the remaining funds left to deposit.
To Functions	If the To Product is a money order or traveler's check, you can assess a fee for the money order or traveler's checks by typing Y in the Function column. Click the ... button to open the Transaction Fee dialog box. The Transaction Fee dialog box will display additional fee benefit information for those members included in a Relationship Pricing plan. For the Number of Items Free fee benefit, the information includes the total number of free items allowed by the member’s Relationship Pricing plan and the remaining number of free items available for the current transaction. The Fee Total field will reflect the correct fee amount based on the number of free items remaining and the number of items being purchased. Select the Apply Transaction Fee check box. In the Number of Items field, enter the number of traveler's checks or money orders to assess the fee on. Then, click OK.

When the total amount of the From Side product codes equals the total amount of the To Side product codes, click Submit to complete the transaction.

Click New to clear the Transaction Area and complete a new traveler's check purchase.

The member account listing appears on the Overview tab, Transactions tab, and Adjustments tab.

The Check Information group box displays the check hold information for any checks received.

Field	Description
Check Holds Local Amount	The amount of local check funds to be held for the specified local hold days. The local check amount is determined using the following calculation: CHECK AMT - NON-LOCAL AMT - NO HOLD AMT = LOCAL CHECK HOLD AMT. Length: 12 numeric including decimal
Check Holds Local Days	The number of days to hold the amount of the check deposit considered as local funds. If blank, this field will default to the number of days specified in the Local field in the Holds section on the Credit Union Profile - Teller tab. Length: 2 numeric
Check Holds Local Items	The number of checks to be held for the specified local hold days. Length: 2 numeric
Check Holds On Us Amount	The amount of on-us check funds.
Check Holds On Us Items	The number of on-us checks.
Check Holds Exception Amount	The amount of exception check funds to be held for the specified exception hold days. Refunds are not allowed on amounts held as exception funds. Length: 12 numeric including decimal Keyword: NL
Check Holds Exception Days	The number of days to hold the amount of the check deposit considered as exception funds. This field will default to the number of days specified in the Exception field in the Holds section on the Credit Union Profile - Teller tab. Length: 2 numeric
Check Holds Exception Items	The number of checks to be held for the specified exception hold days. Length: 2 numeric

The batch number, batch sequence, transaction amount, cash received and cash disbursed for the transaction prints on the last three lines of member's receipt. You must use the Product Code Information window to change the description or default values of a product code. You must perform the Transaction Definition window to add, change, or delete product codes for the Traveler's Checks and Miscellaneous Tracked Forms tab.

To distribute a generic/miscellaneous form, click the Traveler's Check Type down arrow and select the form. In the Serial Number field, enter the serial number of the form. Then, click the right arrow to add the form to the list box. The dollar amount of the form displayed in the list box will be $0.00. The amount will remain $0.00 regardless of the amounts entered in the Transaction Area grid. In the From Information columns, specify the source of the funds and the dollar amount. In the To Information columns, select the appropriate product and enter the dollar amount. Then, click Submit. Portico will automatically adjust the form inventory to reflect the forms distributed.

General Ledger Effects: The general ledger effects of the Traveler's Checks and Miscellaneous Tracked Forms tab depend on the combination of From and To product codes and the master type associated with the product code.

From Side

Master Type	GL Effect
CC	Debit Product Code GL Credit 739200
CK	Debit Product Code GL Credit 739200
GI	Debit Product Code GL Credit 739200
GO	Debit Product Code GL Credit 739200
GOTC	Debit Product Code GL Credit 739200
MI	Debit Share Type GL Credit 739200
ML	Debit Loan Type GL Credit 739200
MS	Debit Share Type GL Credit 739200

To Side

Master Type	GL Effect
CC	Debit 739200 Credit Product Code GL
CK	Debit 739200 Credit Product Code GL
GI	Debit 739200 Credit Product Code GL
GO	Debit 739200 Credit Product Code GL
GOTC	Debit 739200 Credit Product Code GL

Related Reports: none

Teller Balancing Effects: The teller balancing effects are as follows:

Increases the Teller Batch Total field on the Balancing and Close tab by the amount of the transaction.
Increases the Amount field on the Balancing and Close tab by the amount of the transaction for any product code with Display and Balance in the Balancing Report field on the Product Code Information window.
Increases the Amount field on the Balancing and Close tab by the amount of the transaction for any product code with Display Only in the Balancing Report field on the Product Code Information window.

On Teller Administration Expanded, the Traveler's Checks and Miscellaneous Tracked Forms tab updates the Balancing and Close tab based on the master type associated with the product code:

From Side

Master Type	Balancing and Close Effect
CC	Increase Cash Received
CK	Increase Checks for Deposit
GI	None
GO	None
GOTC	None
MI	None
ML	None
MS	None

To Side

Master Type	Balancing and Close Effect
CC	Increase Cash Disbursed
CK	None
GI	None
GO	None
GOTC	None
MS	None

On Teller Administration Basic, the Traveler's Checks and Miscellaneous Tracked Forms tab updates the Balancing and Close tab based on the master type associated with the product code:

From Side

Master Type	Balancing and Close Effect
CC	Update Cash Received
CK	Update Checks Received
GI	Update Transfers\JV
GO	Update Transfers\JV
GOTC	Update Tlr-Type/Other or Other Receipts Note: If the general ledger account for the traveler's check or traveler's check fee product appears in the Teller Sales section on the Credit Union Profile - Accounting tab, the Traveler's Check tab will update the Tlr-Type 1 through Other fields. Otherwise the Traveler's Check tab will update the Other Receipts field.
MI	Update Transfers\JV
ML	Update Transfers\JV
MS	Update Transfers\JV

To Side

Master Type	Balancing and Close Effect
CC	Update Cash Disbursed
CK	Update Checks Disbursed
GI	Update Tlr-Type/Other or Other Receipts Note: If the general ledger account for the traveler's check or traveler's check fee product appears in the Teller Sales section on the Credit Union Profile - Accounting tab, the Traveler's Check tab will update the Tlr-Type 1 through Other fields. Otherwise the Traveler's Check tab will update the Other Receipts field.
GO	Update Tlr-Type/Other or Other Receipts Note: If the general ledger account for the traveler's check or traveler's check fee product appears in the Teller Sales section on the Credit Union Profile - Accounting tab, the Traveler's Check tab will update the Tlr-Type 1 through Other fields. Otherwise the Traveler's Check tab will update the Other Receipts field.
GOTC	Update Tlr-Type/Other or Other Receipts Note: If the general ledger account for the traveler's check or traveler's check fee product appears in the Teller Sales section on the Credit Union Profile - Accounting tab, the Traveler's Check tab will update the Tlr-Type 1 through Other fields. Otherwise the Traveler's Check tab will update the Other Receipts field.
MS	Update Share Deposits or Other Receipts

Correction Procedures:

For same-day correction, perform the Reversals - Same-Day Reversals tab.

If you added a new share draft account when performing the Traveler's Checks and Miscellaneous Tracked Forms tab and then wish to reverse the transaction, you must perform the following steps in the order shown:

Use the Reversals - Same-Day Reversals tab to reverse transaction code 244.
Use the Reversals - Same-Day Reversals tab to reverse transaction code ALT.

If you do not perform the reversals in this order, the message SUBSEQUENT ACTIVITY FOR THIS ACCOUNT MUST BE REVERSED appears.

For a prior-day correction, based on the product codes, perform a combination of the following transactions:

Adjustments – Share Deposit from General Ledger tab
Adjustments – Share Withdrawal to General Ledger tab
Adjustments – Loan Payment from General Ledger tab
Adjustments – Loan Advance tab
Basic Journal Voucher window

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