Daily Credit Union ACH Tasks

Helpful Resources

When does CU*Answers receive the ACH files that are available throughout the day?

Overview

Following are the ACH tasks for which the credit union is responsible each day:

 

  1. Ensure that all items received were processed.

    Any exceptions that did not post will appear on the PXACH report. All NSF items will appear on the TACHD5 report (with additional details on the TACHD4 report). Accounts closed between the time the ACH item was received into the warehouse file and when it was posted will appear on the TACHD4 report.

    • Remember that these reports are printed with each posting.

    Depending on the nature of the exception, items should either be posted manually or returned using the Work ACH Daily Exceptions feature. If the exception requires that future ACH transmissions be modified, a notification of change (NOC) should be issued. Remember that ACH regulations require returns and NOCs to be issued within a specific timeframe to ensure acceptance.

    Minimizing Exceptions

    Check both the PACHSU and PXACH reports first thing in the morning. Any items that appear on the PACHSU report but DO NOT appear on the PXACH report for that morning's posting may still be worked so that they do not become exceptions later.

    • Self-processing credit unions: because you can check the PACHSU report before posting anything, you can work all of the items on this report prior to posting.

    SEE ALSO: Using Smart Operator to Verify Daily ACH Transmissions\

  2. Check the 870-11 exception G/L account for a balance.

    This account should be reviewed and brought to a zero balance daily. Any balance in this account would indicate that there are exception items that have not yet been handled.

    • Remember that transactions do not appear in the G/L inquiry screens until after end-of-day processing is complete. Therefore, any balance which appears in the 870-11 account is for a prior day's exceptions.

  3. Use the daily Fed Advice to transfer funds from the ACH Settlement account to the correspondent bank G/L account.

 

Related Topics

Understanding ACH - Overview and Terminology

ACH vs. Payroll Deduction

Daily ACH Activity Summary

ACH Exception Handling: Overview

Common ACH Exceptions

ACH Daily Reports

ACH Transaction Codes

Understanding ACH Suspense Accounting

Settling ACH