Updating ACH Company Settings

Screen ID:  UIACHD-06
Screen Title:

Update ACH Company Record
Panel ID: 2249
Tool Number: 989 or 112
    Click here to magnify

This screen will appear when you select a company ID and choose "Update Company" on the first ACH Distribution Maintenance screen.

Use of the "Post distributions" feature

This window is used to specify whether or not to post distributions for a particular company (by company ID and company name).

This should be used only in special situations where distributions are not desired, such as a special bonus payroll. In this case, the box would be unchecked just before the bonus payroll is received, then checked again after the payroll was posted to ensure that future items would post with distributions as normal.

  • NOTE: The Company Name shown here is automatically updated every time a new ACH transaction is received. If the same Company ID represents multiple company names (such as for a payroll processing company), each company name can be modified independently in this window.

If the check box is changed, use Update Post Distribution (F5) to save the change and return to the previous screen.

  • NOTE: Since there is no longer a separate ACH company file, what this function actually does is flood all distribution records under this Company ID and Company Name with the new setting.

  • If ACH distributions are not posting early, for example if you merged Company IDs, you can use Update Post Distributions on this screen to flag the ACH distribution records to post early.

Use of the “Post incoming credit transactions early (effective date override)" feature

Important:  If you are an Xtend SRS Bookkeeping client, please contact Xtend before making any changes to this box.

This screen will allow your credit union to override effective date restrictions, which control when incoming credits can be posted. This allows you to automatically force-post ACH deposits prior to when they would normally hit the members’ accounts, as a special service for certain companies. This feature is used to post transactions immediately when they arrive in the ACH file.

For example, you might use this with a SEG so that Friday’s payroll transactions are automatically posted immediately when the transactions arrive in Thursday’s ACH file.

  • This optional feature must first be activated via the ACH Posting Controls. Then you’ll need to set a new flag for each individual company ID to which the override should apply.

On this screen, check Post incoming credit transactions early (effective date override) to post ACH credits (for this company ID only) when they arrive in the warehouse.  The transactions will post the next time ACH credits are posted for your credit union (based on your configuration), regardless if the effective date (settlement date) is the following day or later.

  • Important Note:  In order to post the ACH transactions for the selected company ID, the transactions must have been received in the ACH file so they are available to post.  Learn more:  Posting Debits and Credits – Important Considerations

  • If you wish to use the feature temporarily, such as for a special one-time payroll, the box would need to be checked just before ACH is posted, then unchecked after posting and before the next ACH posting is done.  (Remember that ACH may be posted several times a day, based on your credit union’s ACH Posting Controls settings.)

  • Remember that the company name is automatically updated every time new ACH transactions are received. The company name you see is always going to be the name that was most recently received. (In other words, there is no ‘master’ record with this company ID and name in it, just many ACH distribution records with this same company ID.)

  • After checking this flag, when you use the Update... button the system will find all existing ACH distribution records that match this company ID and company name at that particular time and set the flag to yes on all of them.

  • When new items matching the company ID and name are received, the override flag will update with the same value as existing records matching both company ID and name.

  • If existing items using the same company ID come in with different company names in the future, the override flag will NOT update when the company name updates on the records.

  • If this box is greyed out and cannot be changed, you must first change the configuration on the ACH Posting Controls screen. Refer to this topic for more details.

If the check box is changed, use Update Post Distribution (F5) to save the change and return to the previous screen.

  • NOTE: Use of this feature can make end-of-day settlement balancing more challenging.  Contact Xtend SRS Bookkeeping for assistance.