e-BillsPay accounting/settlement entries

Below are the expected entries for the different scenarios of payment on the e-BillsPay. 

1. Call the e-BillsPay “Create Transaction” endpoint with the payload request.
2. eBillsPay will generates a new payment request payload (containing the debit & credit advice) and sends to the bank’s middleware endpoint.

Where the beneficiary (Biller) is in Your Bank;

1. Your Bank is expected to use the internal core banking to debit the Teller’s Till/Payer’s account and credit the Biller’s account domiciled in your Bank.
2. Afterwards, Your Bank is expected to respond to the e-BillsPay payment request with a successful response AFTER you have successfully credited the account of the biller.

For the accounting entries, 

1. Debit Teller’s Till/Payer’s account (Transaction amount and fee)
2. Credit eBillsPay Transit account/GL with the transaction amount and credit the fee wherever is okay for Your Bank.(e.g. Fee collection account)
3. Then debit the eBillsPay Transit account/GL and credit the Biller’s account in Your Bank with the transaction amount ONLY.
4. The fee should remain in whatever account Your Bank chooses to credit. NIBSS will debit the CBN account of Your Bank (or the CBN account of your settlement bank where Your bank is not a settlement bank) on weekly basis for fee, then the settlement team of Your Bank is expected to debit the fee from wherever it was kept and then credit the CBN account to clean up the debit passed by NIBSS. 
5. NIBSS will share the fee among all the stakeholders which would include Your Bank.

Where the beneficiary (Biller) is in NOT Your Bank;

1. Your Bank is expected to debit the Teller’s Till/Payer’s account and send the credit to the Biller’s account in the other bank via NIP (by sending NIP FT Credit request to the beneficiary's bank).
2. Afterwards, Your Bank is expected to respond to the e-BillsPay payment request with a successful response that it has done the debit and credit successfully.
3. Please note that your response to e-BillsPay should be the response you received from the beneficiary's (biller's) bank.
4. You are expected to respond to e-BillsPay ONLY AFTER the  beneficiary's (biller's) bank has responded to your NIP FT Credit request.

For the accounting entries, 

1. Debit Teller’s Till/Payer’s account (Transaction amount and fee)
2. Credit eBillsPay Transit account/GL with the transaction amount and credit the fee wherever is okay for Your Bank.
3. Send an NIP FT credit request to the beneficiary bank to credit the biller.
4. The biller's bank is expected to respond to your NIP FT Credit request, which is the response you are expected to provide to e-BillsPay. 
5. NIBSS will then pass a debit settlement for the amount to the CBN account of Your Bank Bank (or the CBN account of your settlement bank where Your bank is not a settlement bank).
6. NIBSS would then pass a settlement for the corresponding credit amount to the CBN account of the Biller’s bank.
7. Then the settlement team of Your Bank is expected to debit the e-BillsPay Transit account for the amount and credit the CBN account (or the settlement account in your settlement bank) for same amount that has been debited by NIBSS. 
8. The transaction fee will still be left out in whatever account it was credited to.
9. NIBSS will debit the CBN account of Your Bank Bank (or the CBN account of your settlement bank where Your bank is not a settlement bank) on weekly basis for fee, then the settlement team of Your Bank is expected to debit the fee from wherever it was kept and then credit the CBN account to clean up the debit passed by NIBSS. (This will not be applicable for non-settlement banks)
10. NIBSS will share the fee among all the stakeholders which would include Your Bank.