End of day
The batch run that closes a business day: posting the day's transactions, updating balances and preparing for the next day.
Also written EOD, end-of-day batch, daily cut-off, close of business
End of day, or EOD, is the processing that closes one business day and opens the next. For a bank, it is the centre of the overnight batch.
It starts at a cut-off time. Transactions after the cut-off count towards the next business day. The EOD run then posts the day's transactions to accounts, calculates daily interest, updates balances, produces files for other systems and partners, and creates reports. When it finishes, the systems are ready for the new day.
The order matters. Some jobs cannot start until others have finished, and many depend on files from outside the bank arriving in time. That is what makes the critical path and the batch scheduler so important.
Many modern systems need online services available all the time, so EOD is often designed to run while customers keep using the service, with online and batch work carefully separated. If you hear "EOD is late", it means the overnight run will not finish on time, and something on the critical path needs attention.
Where can I learn this hands-on?
Right here, at ZedBank. You take a junior job at a simulated bank and learn each part of the work by doing it, with Zed beside you. There's nothing to install.
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- Batch processingRunning work in bulk, without anyone watching, usually on a schedule. The overnight run that settles a day of transactions.
- Batch windowThe period, usually overnight, in which batch work has to finish before the business needs the systems back.
- Month-end processingThe extra batch work a business runs at the end of each month, such as interest, fees and statements, on top of the normal daily run.
- Critical pathThe chain of dependent batch jobs that decides when the whole batch run finishes; any delay on it delays the finish.
- Online transaction processingHandling many small pieces of work in real time while someone waits: a card payment, a balance check, a seat booking.