The Invoice (01) or Consolidated (01) Netting Transaction is used to report payables and/or receivables. Invoices are the predominant transaction within the Netting process. The Consolidated Invoice (01) transaction type allows one transaction for a consolidated batch of invoices of the same currency. The transaction type available is determined by your entitlements.
From the Summary Form:
To access Netting, click Netting on the CitiDirect navigation bar. The Netting Summary Form appears.
Click the Input/Modify Tab.
Click Create New Row and complete the following fields: Participant ID, Counterparty ID, Amount, Maturity Date, Currency, and Pay/Rec.
Click Submit to save and submit the Netting transaction for validation. The Netting transaction moves to the next step in the process as defined by Flow Control requirements. Note: Use the detail form if you want to use the additional fields that are not available on the summary form.
From the Detail Form:
Follow steps 1 and 2 above.
Click New. The Netting Detail Form appears. Note: Required fields are identified by a red asterisk ( * ).
In the Transaction Type field, click the drop-down arrow and select 01 - Consolidated Invoice.
Participant ID defaults to the ID to which you are entitled. If you are entitled to enter transactions for multiple participants and would like to change the Participant ID, click the Library Look-Up button and select an ID.
Participant Name is automatically populated when Participant ID is filled using the Library Look-Up. Note: Only Netting Managers can manually enter data into this field. Netting Participants must use the library look-up.
In the Payment Type field, click the drop-down arrow and select a payment type.
In the Counterparty ID field, click the Library Look-Up button and select an ID.
Counterparty Name is automatically populated when Counterparty ID is filled using the Library Look-Up.
In the Currency field, click the Library Look-Up button and select a currency code.
In the Amount field, enter the amount of the transaction.
In the Maturity Date field, click the drop-down arrow and select the maturity date from the calendar or use the date spinner.
Enter information in any of the following optional fields: Billing/Accounting Period, and Comments.
Click Submit to save and submit the Netting transaction for validation. The Netting transaction moves to the next step in the process, as defined by Flow Control requirements.
Notes:
To return to the Netting Summary Form, click Return to Summary.
To print details for the current Netting transaction, click Print.
To clear the fields on the detail form, click Clear.