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Using SCT Banner Finance / Automated Clearing House

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Using SCT Banner Finance / Automated Clearing House Chapter 7 AUTOMATED CLEARING HOUSE Banner Introduction................................................................................................................ 7-3 7 Automated Clearing House Standards ................................................................................................................................... 7-3 National Automated Clearing House Association Standards................................................7-3 Canadian Payment Association Standards .............................................................................7-4 Menu Navigation Tables ........................................................................................................ 7-4 Automated Clearing House Forms....................................................................................... 7-5 Finance User Profile Form ..............................................................(FOMPROF) ................7-5 Batch Check Print Form ..................................................................(FAABATC) ..................7-6 Invoice/Credit Memo Form ............................................................(FAAINVE)...................7-9 Bank Code Rule Form .....................................................................(GXRBANK) ................7-9 Bank Code Query Form ..................................................................(GXIBANK)..................7-13 Bank Routing Number Validation Form ........................................(GXVDIRD) .................7-14 Direct Deposit Recipient Form .......................................................(GXADIRD) .................7-15 List of Automated Clearing House Reports and Processes ............................................ 7-17 7-1 Chapter 7 Automated Clearing House This page intentionally left blank SCT Banner Release 5.0 February 2001 7-2 Using SCT Banner Finance Confidential Chapter 7 Automated Clearing House Banner Introduction 7 Automated The Banner Automated Clearing House (ACH) module enables you to make Clearing House payments to vendors, students, and employees using direct deposit transactions rather than conventional checks. This functionality works in conjunction with Banner’s check processing feature, giving you a choice in payment options. The Automated Clearing House application can be used with the Finance product (for payments to vendors); with the Human Resources product (for payroll processing); and with the Accounts Receivable product, in conjunction with the Finance product, for the payment of refunds. (For information about using ACH to process student refunds, see Chapter 3 of the Using Banner Accounts Receivable User Manual). 7 Automated Banner provides the capability of producing checks, direct deposit payments, or Clearing House both. For details on how this application works, and the steps involved in producing payments, see Chapter 3, Processing. Automated Clearing A clearing house is a large financial institution that the Federal Deposit Insurance House Corporation (FDIC) has licensed for transferring funds between banks, and other clearing houses. The clearing houses form an electronic network across the country, ensuring that financial transactions pass securely and efficiently. The network communicates using standard record formats, which are created by the National Automated Clearing House Association (NACHA). In order for a clearing house to pass funds from one place to another, it needs to know who is making the payments by direct deposit (i.e., your institution), and who will receive the payment. In ACH terms, since you are making the payment from your bank account, you are the originator. The clearing house needs to know who your bank is, so the funds can be withdrawn from your account. Your bank is known as the immediate origin. From there, the funds can move to the clearing house, also known as the immediate destination. Lastly, the clearing house needs information on the recipient, the party who will receive the payment. You must identify the recipient’s name and their bank information. When you create direct deposit payments in Banner, the system will create a direct deposit file, which will contain all the information the clearing house will need to transfer the funds. You can then send the direct deposit file to your bank for processing. Banner provides a Remittance Advice feature, which enables you to print advices for the direct deposit payments. Standards National Automated Clearing House Association Standards For institutions operating in the United States, Banner formats records to the standards of the National Automated Clearing House Association (NACHA) for 1998 and 1999. These standards define the record layouts for data, including the Direct Deposit Header Label record, the Company/Batch Header record, and the File Header record. The Banner Automated Clearing House module conforms to February 2001 SCT Banner Release 5.0 Confidential Using SCT Banner Finance 7-3 Chapter 7 Automated Clearing House these standards. Banner uses the CTX format, for corporate vendors, and the PPD format, for payments to individuals/students/employees/non-corporate vendors. For a copy of the NACHA standards, please contact the National Automated Clearing House Association (NACHA), 607 Herndon Parkway, Suite 200, Herndon, VA 20170. Canadian Payment Association Standards For institutions operating in Canada, Banner formats records to the standards of the Canadian Payment Association (CPA). Banner uses the CPA-005 credit file format, with a transaction code of “450” for all recipients of payments from the Banner Finance product. For a copy of the CPA standards, please contact your local bank. Menu Navigation Tables If you know the seven-letter name of the form you want to access, you may use Direct Access this menu from the Finance Operations Menu (*FINOPER). Access to bypass the intervening menus. To use Direct Access at any menu, FOMPROF Finance User Profile Form enter the seven-letter name of the form you want at the Direct Used to establish fund/organizational security for users by user Access prompt. Instructions for ID. accessing menus are in Chapter 2, Using Banner, in this manual. Access this menu from the Finance System Menu (*FINANCE). FAABATC Batch Check Print Form Enables you to enter parameters for the payment process, and then to initiate the processes that will make payments via check or direct deposit. Access this menu from the Accounts Payable System Menu (*FINAP). FAAINVE Invoice/Credit Memo Form Enables you to create invoice documents. Access this menu from the System Functions/Administration Menu (*GENSYS). SCT Banner Release 5.0 February 2001 7-4 Using SCT Banner Finance Confidential Chapter 7 Automated Clearing House GXRBANK BankCodeRuleForm Enables you to create bank code records for your institution’s bank accounts, and to link bank funds and bank accounts with your cash accounts. GXIBANK BankCodeQueryForm Displays historical information for the bank code records. GXVDIRD Bank Routing Number Validation Form Used to enter and validate bank routing information stored in Banner’s databases. GXADIRD Direct Deposit Recipient Form Used to identify the recipient or entity that will be receiving payments via direct deposit. Automated Clearing House Forms This section provides you with examples and descriptions for each form within the Automated Clearing House module. Forms in this section flow in the order that they appear on the following menus: • Financial System Security Menu (*FINSECR) • Accounts Payable System Menu (*FINAP) • Invoice/Credit Memo Processing Menu (*FININVS) • Banking and Currency Menu (*GENCURR) Each form contains a description, instructions on how to use the form, essential field information, and a navigational guide. For more detailed information on how to use these forms, refer to Chapter 3, Processing. Finance User Profile Form (FOMPROF) This form is used to establish fund/organizational security for users by user ID. After you associate the user name with the user ID, you can associate other security options, including: Chart of Accounts, Master Fund, and Automated Clearing House options. If you are using the direct deposit feature, you will need to determine which of your system users can have access to the fields which affect direct deposit operations. February 2001 SCT Banner Release 5.0 Confidential Using SCT Banner Finance 7-5 Chapter 7 Automated Clearing House Select the ACH Override check box if you want the user to be able to use the ACH override feature, which will stop an invoice from being paid via direct deposit. Instead, the payment will be made by check. Batch Check Print Form (FAABATC) The Batch Check Print Form enables you to enter parameters for the payment process, and then initiate the processes that will make payments via check or direct deposit. You will select the bank to be used, and the mode of payment (Check, Direct Deposit, or both). Note: Check runs can be restarted, but not direct deposit runs. You can restart Check runs if you are processing by "Check", or by "Direct Deposit & Check". Warning: If your process is incomplete, SCT recommends that you finish the com- plete payment process before you attempt to restart a Check run or a Direct Deposit & Check run. Fields Descriptions / Buttons .............. ...................................................... Bank Enter the 2-digit bank code for the bank from which you will issue the payments. Bank codes are maintained using the Bank Code Rule Form (GXRBANK). The bank’s name will appear
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