BASIC ACH POSTING OVERVIEW

 

The following procedure lists the order in which ACH posting should be done with very basic explanation of each step. 

 

RETRIEVING ACH TRANSACTION FILES

 

ERS receives ACH files directly from the Federal Reserve Bank in Chicago at approximately 3:00AM and 3:00PM each day Monday thru Friday. 

 

To retrieve those file you use Program #69 Option A.  This should be done first thing in the morning

and again in the afternoon to ensure that your members receive their ACH transactions in compliance

with all Federal and NACHA rules.

 

POSTING ACH TRANSACTIONS

 

1.            Go to Program #25. 

If any of the Indexes is flashing ANot Posted@ you have unposted ACH items for this date or a prior date.

 

If all Indexes say AAll Posted@ you have no unposted ACH items for this date.

 

2.            Choose Option J

Enter the correct Index (usually 1) and use the default date so that all mismatched items will be displayed.

 

This option will display any item that cannot post due to a bad account number or bad share type, or an instance where the account number exists but the last name on the account is not the same as the one on the ACH.  Items will also show if the member has revoked authorization for this item or if the share type designated is closed.

 

3.            If any items are listed in Option J press 'Page Down' and make the necessary corrections.

 

Each item will come up in the order they appear on the screen.  Make the necessary correction(s) to account numbers and/or share types so that the items will post properly.

 

IF THE NAMES DO NOT MATCH, BUT THE ACH IS OK (Example: A SSI deposit for a child with a different name than the mother) you don't need to change anything.  Just press ENTER to move to the next item.

 

IF THE ACH ITEM IS NOT FOR AN ACCOUNT AT YOUR CREDIT UNION change the account number to post to your credit union's Exception Posting account, then return it after posting.

 

IF THE SYSTEM TELLS YOU THE ITEM HAS BEEN REVOKED you must designate AP@ to override the Arevoke@ and post the item normally, or let the system ARevoke@ it.  (If ARevoked@ the item will post and the offsetting transaction will automatically be posted at the same time.)

 

4.            Choose Option A and Today's date to post any unposted items with a Settlement Date of today or a prior date.

 

The system will display for you a list of any New Originators.  (This is any ACH whose Originator information does not EXACTLY match a previous originator.

 

If any of these originators are sending an ACH to a member who wants that item split, you should assign the originator the proper Payroll Group Code now.

 

5.            Post all ACH items using this option.

 

6.            Check Option D.  THERE SHOULD NEVER BE ANY ITEMS HERE!!!!!!

If there are unposted items in Option D press the Page Down key, make the necessary corrections and say AY@ to post them.

 

7.            Choose Option H.   This option shows all AException@ items and the reason they are listed. 

 

If an item has been ARevoked@ and should be returned you simply need to follow your normal procedure to return the item to the Originator (probably thru MidStates).

 

If an item should be returned but has NOT been ARevoked@ you must follow your normal procedure to return the item to the Originator AND enter the proper offsetting entry in the member's account (#126 ACH Withdrawal Return or #121 ACH Deposit Return)

 

If an item has been ARevoked@ and should not have been you should reverse the ARevoked@ credit or debit that offset the ACH item in the member's share account.  (Use the same ARevoked@ transaction code that appears in the member's history with a negative (-) dollar amount.)

 

NOTE: When this option is displayed on the screen you can use the Arrow Keys to highlight any item, then Press HOME.  The ACH DETAIL WINDOW which contains all of the information you need to return the item will be displayed.  Press F9 to print that window.

                                                                                                                                                                                   

 

 

IF YOU CREATE AN ATM POSITIVE BALANCE FILE IN THE EVENING:

In order to be in compliance with Federal Regulations any ACH deposits for the next day must be included in this Positive Balance file if they are available to you before it is created.  To meet this requirement do the following.

 

1.            In the ACH Program #25 follow the above procedures entering tomorrow's date in Option A when posting.

 

The system will post only ACH deposits with a Settlement Date of tomorrow but will not post withdrawals.