What Is Cut off Transaction

Procedures applied to the accounting records at the end of an accounting period to ensure that all transactions for the period are recorded and any transactions not relevant to the period are excluded.

What is transaction cut-off time?

The transaction cut-off time is the time of day the payment gateway picks up transactions for settlement. Transactions submitted after the configured transaction cut-off time are picked up with the next batch.

What is a purchase cut-off?

Purchase Cut-Off Time means any time designated by the I-Fund on any date designated by the I-Fund (in the I-Fund Procedures, or if not contained in the I-Fund Procedures, in a Written Instruction) by which a NSCC purchase instruction and Conforming Purchase Order must be received by BNYM in order to be processed for …