Case of Managing 16 digits Virtual Accounts
How to organize 16 digits VA:
- 1 – 5 : managed by bank by core banking, representing VA account type and partners/institutions, also mapped to beneficiary account.
- 6 – 16 : managed by partners/institutions and by Virtual Account Portal, to identify customer numbers, invoice numbers, member numbers, account numbers etc.
- 70010 8161899241
- 7 represents account type of VA
- 0010 represents an institution and a specific beneficiary.
- 8161899241 represents a member number of an institution.
Using ATM off us, basic information will be presented as:
Account Name : Deddy (Kls 3 SD)
Account Number : 7850000124123412
By using ATM on us, some additional information can be presented as:
Institution Name : SGO
Reference Number : BIIVA-700844-6ECF5FA
Amount of bill : Rp. 200.000,00 (fixed can not be changed)
SGO Virtual Account Portal has advanced features to help the institution manage their bills for the customer. Some of the features are:
In this case the system will not reject any amount of transaction, like for example installments. Any amount can be paid into the Virtual Account.
Amount must be entered exactly as billed (in on-us ATM, amount can not be altered), otherwise the system will reject the transaction.
When uploading the invoice system it can generate invoice notifications to SMS or email, while the institution provides the email or handphone number.
While housekeeping is performed, the system can do auto archiving and create a new balance for every debit or credit note that remains open.
Credit Note and Debit Note
Keeps track on all the payment transactions to the Virtual Account. Every VA generated will have a “mini ledger” that shows debit-credit and remaining balance due.
Every payment will be reconsiled to the uploaded invoice. All invoices that have already been paid can be automatically set to close (can not be paid anymore, to avoid double payments).