Settling ACH

Helpful Resources

Visit Show Me the Steps for easy instructions on how to use CU*BASE to find an offage in an ACH settlement G/L account.

Overview

This section is designed to provide guidelines to assist in settling your daily ACH transactions. Although each credit union is unique, there are some basic principles that are important when handling this activity.

The ACH Clearing G/L account is designed to handle all incoming ACH items. Once confirmation is received from the Fed or Corporate Central CU, these items are moved from the clearing G/L to the correspondent settlement bank G/L, showing the settlement of ACH funds.

It is recommended that the G/L settlement transactions be done daily, and backdated to the settlement date, using the debit and credit figures shown on the Fed Advice or other confirmation. In this way, the transaction history of the clearing G/L account will show a zero balance daily, indicating that all items have been settled properly.

The following illustrates sample settlement transactions and how they relate to a daily Fed Advice. Notice the debit and credit figures in the G/L history, dated using the Settlement Date on the Fed Advice.

Fed Advice Sample 1

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·NOTE: The figures on the Fed Advice should also match the figures shown on the daily ACH Settlement report PACHD.

Fed Advice Sample 2

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G/L History for the ACH Clearing G/L Account

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