The Batch An ACH batch consists of a template (see below) and a collection of transactions having the same purpose and effective date to be performed, and may also include addenda information. Template The template contains the essential characteristics of the ACH batch, such as the name of the template, the type (class code) of ACH transmission (CCD or PPD), and the offset account. Although AXIS Cash Management only lists CCD & PPD, the application will create the appropriate CCD+/PPD+ ACH Batch if a participant The participant is the individual or organization that will be affected by the ACH transaction (payee or draftee). An ACH transaction may debit or credit a participant's account, e.g., a payroll deposit or a payment for services rendered. The participant information is referenced by the ACH transaction. with an addendum is associated with this batch. Maintenance function lets you define the essential characteristics of the ACH The ACH is a network of regional associations, inter-bank associations, and private-sector processors. ACH payments are processed and settled electronically, thereby increasing reliability, efficiency and cost effectiveness. ACH payments are generally settled in one day or greater. batch: the template name, the ACH transmission type and the offset account. This screen allows you to create new templates and also allows you to update or delete existing templates.
To display the Batch Template The template contains the essential characteristics of the ACH batch, such as the name of the template, the type (class code) of ACH transmission (CCD or PPD), and the offset account. Although AXIS Cash Management only lists CCD & PPD, the application will create the appropriate CCD+/PPD+ ACH Batch if a participant with an addendum is associated with this batch. Maintenance screen:
· Select the ACH option on the Funds Transfer menu and then click Batch Template Maintenance. The Batch Template Maintenance screen appears.
Batch Template Maintenance - ACH Prefunding
The Batch Template Maintenance function lets you define the essential characteristics of the ACH batch: the template name and the ACH transmission type. This screen allows you to create new templates and also allows you to update or delete existing templates. When required to prefund, you will create unbalanced templates and the Offset Account field will not be available. The ACH ID will contain the offsetting account number.
To display the Batch Template Maintenance screen:
Select the ACH option on the Funds Transfer menu and then click Batch Template Maintenance. The Batch Template Maintenance screen appears.
1. Enter the template name in the Template Name input field.
2. Fill in a Template Description that explains the purpose of the template.
3. Select either PPD Prearranged Payment or Deposit, the ACH payment format by which consumers may authorize credits or debits to their accounts by a company or financial institution. These are normally recurring payments in fixed amounts. – Personal Payments or CCD The ACH payment format used for concentration of funds between or within companies. A single 94-character record contains the standard entry class indicating the type of transaction, routing and transit numbers of the ODFI Originating depository financial institution, The FI issuing an ACH file(s) on behalf of its client. and RDFI Receiving Depository Financial Institution, the FI that receives the ACH debits or credits on behalf of an individual, or business client. and the originator and receiver account numbers. CCD is the only corporate ACH format that does not have space for additional addenda information, but it does contain space for a reference number. – Corporate Payments from the ACH Batch Class drop-down list.
Note: If your financial institution a bank, thrift, or credit union accepts unbalanced ACH files, you will see the Create offsetting transaction An ACH transaction is an entry within the NACHA file that indicates how the participant's account should be affected. The transaction includes a reference to the participant, how the account is affected, and the amount. checkbox. You have the option of creating an offset transaction or not.
4. Select an ACH ID. The ACH ID is used to identify the originator The originator is the individual or organization that is initiating the ACH transmission. For our purposes, the originator is the Commercial Customer a bank's customer, a thrift's customer, or a credit union's member. using the Cash Management system. of the ACH batch.
5. Using the Offset Account drop-down list, select the account that will receive funds transferred in and provide Funds Transferred out.
6. Click the Add button.
The Batch Template Maintenance option allows the end user an employee of the customer that is given access to application by the company administrator the customer, or a person assigned by the customer, who will have administration responsibilities in the Commercial Customer Platform of the application. or a user administrator. to update a template’s information.
1. Select the template from Template Name drop-down list. The selected template’s information appears in the screen.
2. Make any necessary changes. Click the Reset button at any time if you need to restore all of the fields to their previously saved values.
3. Click the Update button.
The Batch Template Maintenance option allows the end user to delete a template’s information.
1. Select the template from Template Name drop-down list. The selected template’s information appears in the screen.
2. Click the Delete button. A dialog box appears, prompting for confirmation.
3. Click the OK button to perform the delete, or click the Cancel button to leave the record unchanged.