ACH Companies and Accounts

New Employee Training Transmissions Training Guide ACH Companies and Accounts

This document provides technical information on the ACH Companies and Accounts feature within the FLEX system. This feature allows credit unions to manage ACH records, including searching for ACH transactions, maintaining individual member records, and adding, changing, or deleting distributions.

Accessing ACH Companies and Accounts

The ACH Companies and Accounts feature can be found in the FLEX Main Menu under

ACH/ACH Origination > ACH > Reports > ACH Companies & Accounts2222.

 

ACH Companies and Accounts Overview

The ACH Companies and Accounts screen is divided into two main panels3:

  • Top Panel: Displays ACH company records received through ACH processing4.
  • Bottom Panel: Displays member accounts associated with the selected ACH company5.

Searching and Filtering

The top panel of the ACH Companies and Accounts screen includes fields to search for accounts or filter by6:

  • Company Name 7
  • Company ID 8
  • Group Code 9

To view member accounts linked to a specific company, highlight the desired company and click the Accounts button10.

 

Editing an ACH Company Record

The “Edit ACH Company” screen provides detailed information and control options for ACH company records11111111.

Company Details

  • Company Name: Displays the name of the company12.
  • Entry Description: Shows the default entry description for the ACH record, used in the cross-reference screen for the company13.
  • Group: A four-character field to store the group code. Group codes must be assigned before distributions can be added and are credit union defined141414.

    • It is recommended to keep group codes unique to each company, especially if a company sends multiple files15.

    • If distributions are set up and the group code is changed, the system will prompt to change the group code for all companies using that code or just the selected company16161616.

 

 

  • Transaction Description: The description that will appear on the member’s statement17.
  • Investment: Indicates the Investment key for the ACH Company18.
  • Force Statement: Check this box to trigger a member statement for ACH transactions from this company19191919191919.
  • Print Receipt: Check this box to generate a receipt for all ACH transactions associated with this ACH Company. This can be overridden at the individual member level20202020202020.

Control Options

  • Provide Name Verification: Overrides the Name Verification setup in ACH Control for this specific company21.

  • Transaction Description (C or E): Specifies the default transaction description (company name or entity description) the system will use if the transaction description field for ACH is left blank22.

  • Override Distribution Verification: If checked, the system will post scheduled distributions even if the amount received is less than the total distribution amount23.
    • If unchecked, the system will verify if the received amount is insufficient and generate an exception report, requiring manual posting of distributions24.

  • Receive Name Change: If checked, allows the ACH Receive Program to change the company name if a previously received Company ID comes through with a different name25.
    • If unchecked, the company name will not be changed by the receive program26.

  • Autofill Transaction Description: If checked, the description for ACH transactions will automatically be filled with the company name272727. This can be an issue if one company transmits files for multiple companies28.
    • If unchecked, the description field will remain blank for manual entry29.

  • Post Credit Entries: This option is applicable if the credit union is configured to post credit entries for new companies30.
    • Defaults to “Yes” but can be set to “No” in ACH Configuration31.
    • If set to “No” in ACH Configuration, this option must be checked to allow credit transactions for a new ACH company to post32.
    • If unchecked, the ACH posting program will not post credit transactions for new company IDs, and a report of new companies will be generated for review33.
    • This allows the credit union to view and maintain new companies (e.g., group codes) and prevent the same company from posting under a different Company ID without knowledge, while maintaining correct distributions34.
    • Once the company appears on the report, this option must be checked to allow credit transactions to post35.
    • This is a one-time configuration change and the field will disappear after the record is saved to allow credits for the Company ID36.

ACH Account Maintenance

After selecting a company and clicking Accounts, member accounts linked to that ACH company are shown in the bottom panel37. Individual account records can be edited or deleted, and new records can be created by clicking Add38.

Entry Details

  • Lock/Unlock: Used to open the member account suffix if changes are needed39.
  • ACH Account: Displays the ACH account number used in the transmission, which may differ from the member account number40.
  • ACH Account Type: Shows the type of account the ACH transaction will post to, based on the transaction code in the ACH file41.
  • Member Account/Suffix: Displays the member account number and suffix where the ACH item will post. Click
    Lock/Unlock to make changes42.
  • ACH Member Name: Displays the name included in the ACH file, which may differ from the FLEX Member Name43.
  • FLEX Member Name: Displays the member’s name as it appears in the NAME file on the FLEX System44.
  • Entry Company: Displays the company name associated with the ACH record. This may differ from the company name on the ACH Companies screen if the company sends ACH items through another company’s transmission45.
  • ACH Entry Name: Displays the name associated with the ACH record, which may differ from the member’s name46464646.
  • Stop Payment: Check this box if a stop payment has been placed on the ACH transaction47.

ACH Company Details (within Account Maintenance)

  • Company ID: Alphanumeric field storing the company ID from the ACH item48.
  • Company Name: Displays the company name associated with the ACH record49.
  • Description: Displays the default entry description for the ACH record, used in the cross-reference screen for the company. This can be changed50.
  • Last Entry: Shows the date the ACH item last posted51.
  • Group: A four-character field for the group code in the ACH Company record. Group codes must be assigned before distributions can be added and are credit union defined52.
  • Class: Displays the entry class associated with the ACH transmission53.
  • Force Statement: Check box to trigger a member statement for this ACH transaction54.
  • Print Receipt: Check box to generate a receipt for this ACH transaction55.

Adding or Editing ACH Distributions

Individual distribution records can be highlighted for editing or deletion, or a new record can be created by clicking Add56.

 

Account Information (within Distribution)

  • From Account/Suffix: Displays the account and suffix from which the ACH distribution will originate. This account will be the same as the one receiving the ACH credit and cannot be changed57.
  • Last Entry Amount: Indicates the dollar amount of the last received ACH item58.
  • Total Distributions: Displays the total amount of all distributions associated with the ACH item59.
  • Net Remaining: Shows the net amount after subtracting total distributions from the total received. This amount will remain in the suffix displayed in Entry Details60.

Transaction Details (within Distribution)

  • Distribution Type: Determines if the ACH distribution will go to another account or generate a check61.
    • Select
      Account to post to a member account62.
    • Select Check to generate a check. If selected, the system ignores account numbers and prompts for payee information. Additional information can be added to the check stub63.

  • To Account/Suffix: Indicates the account/suffix where the distribution will be sent64.
  • Amount: Specifies the dollar amount for the distribution record. A value of $9,999,999.99 indicates overflow to the system during posting, but FLEX does not recommend using this for overflow. The originating record should be corrected instead65.
  • Description: A description to identify the transaction, which will appear on the member’s statement and in account history. If left blank, a default description will be used66.
  • Priority: Indicates the sequence in which distributions will be posted. For an over amount, use priority 967.
  • Payment Frequency: Sets how often the distribution will be processed68.
    • If no frequency is selected, the distribution will post every time the ACH file is processed69.
    • If a frequency is selected, the distribution will only be taken when due based on that frequency70.

Suffix Options (within Distribution)

  • Grace Days: When transferring to a loan account, this parameter indicates how many days prior to the loan due date a payment can be made if “Use Loan Due Date” is selected71717171. For example, if payroll comes on the 2nd but needs to post on the 1st due to a weekend, a grace day of at least 1 day is needed72.

  • Allow Partial Payment: Determines if partial distributions are allowed73.
    • Y: Yes, allows a partial distribution, even if it’s less than the scheduled distribution74.
    • N: No, does not allow a partial distribution. The distribution will only be made if the received amount is sufficient for the total scheduled distribution75.
    • 0: Overrides available and allows the entire scheduled distribution to post, potentially taking the account negative76.
    • P: Overrides available to PAR value and posts a partial amount, ignoring holds on the account77.
    • R: Allows a partial distribution but distributes no more than the received amount if it’s less than the distribution(s)78.

  • Use Payment Amount: If checked, the ACH disbursement program will use the scheduled loan payment amount from the loan record instead of the amount in the amount field79.

    • Caution: If a member receives ACH payroll twice a month and the loan payment is monthly, checking this box will cause the full payment to post each time payroll is received80.

  • Use Due Date: If checked, the system will only make a distribution if the payment due date in the loan record indicates it’s due81.

    • If the loan is paid ahead, the distribution will not post82.

    • If unchecked, the distribution will post every time an ACH is received, regardless of the due date83.

    • Using the due date instead of frequency can be useful for skipping payments84.

IRA Options (within Distribution)

  • IRA Code: If the distribution is crediting an IRA suffix, select the appropriate IRA reporting code85.

Dates (within Distribution)

  • Next Run: Indicates the next scheduled date for the distribution to be processed86.

  • Last Run: Indicates the date the distribution last posted87.

Stop (within Distribution)

  • Stop Payment: Check this box to stop a distribution without deleting the record88.

  • Stop Date: If “Stop Payment” is checked, indicates the date the stop payment should begin89.

  • Restart Date: If a distribution has been stopped, key in the date it should begin posting again90909090.