. All Post Office branches
(Week 25) 02. Settle Centrally process
~ clarification
A recent audit has highlighted that many branches are unclear on how to deal with losses and gains,
particularly around ‘Settling Centrally’.
Settle Centrally
If you have a loss or a gain in your branch and you choose to ‘Settle Centrally’ it means you accept
the loss or gain (unless you follow the dispute process).
Horizon recognises that the cash discrepancy has not been rectified, and transfers the loss or gain
to your ‘customer account’. The customer account Is managed by Product and Branch Accounting
(P&BA) who start the debt recovery process to recover the outstanding amounts.
Resolving branch discrepancies
It is your responsibility to resolve branch discrepancies,
@ = Ifyou believe a Transaction Correction is needed to re
the appropriate department in P&BA via the NBSC oni
fepancy you should contact
iselecting option 3.
Disputing a Transaction Correction
e@ If you want to dispute a Transaction Correction, you should contact the person who has sent you
the Transaction Correction as soon as possible.
You may be asked to give more information to support your dispute.
°
However, if a Transaction Correction is issued too close to a Branch Trading period to be fully
investigated, you can call the NBSC o1 selecting option 3 to ask for more time to
gather and present supporting information.
ff your dispute is accepted, a compensating Transaction Correction will be sent to you.
Appeal process
@ = Ifyou have disputed a Transaction Correction or a branch discrepancy, but your case is not
allowed, you can make a written submission explaining why the loss (or gain) is not proper to your
branch to:
The Relationship Manager, 1 Future Walk, Chesterfield, $49 1PF
The debt recovery process, if Settled Centrally, will be suspended pending a written response.
Contributor: Andy Winn
POL00045457
POL00045457