Initiate Batch

The Initiate 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. function lets you set up an 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 and submit it for processing.

To display the Initiate Batch The Cash Management end user initiates an ACH batch by reviewing the transfer information and assigning a settlement date. Once all of the information is deemed correct by the user, the system creates a formatted NACHA file with all of the batch information. screen:

· Select the ACH option on the Funds Transfer menu and then click Initiate Batch. The Initiate Batch screen appears.

1. From the 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 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. or 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.), 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. Name drop-down list, select 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. that you want to initiate.

2. Edit the effective date in the Effective Date field, using mm/dd/yyyy format. You may enter a date up to 30 days in the future and it must be a business day. Please note the effective date defaults to the next non-federal processing day.

3. If desired, edit the batch data for any or all participants. (The edited information will be used for this batch only.) For each 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., you can:

· Change the Prenote Optional, zero-dollar entries that are sent to the ACH System and then the receiving financial institution to verify instructions prior to sending live entries. setting

Click the Reset button at any time to reset all fields to their previously saved values. Note that you can sort the table by clicking the up and down arrows in any of the column headers.

4. Click the Initiate button to create the file. An email message is automatically sent to the financial institution a bank, thrift, or credit union indicating that an ACH file has been submitted for their approval and subsequent processing.

Note: If the restrict initiation option is selected, an ACH batch that exceeds either the company limits or the end user an employee of the customer a bank's customer, a thrift's customer, or a credit union's member. 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. limits will be prevented. Also, your financial institution may specify that approval is required on all ACH submittals, regardless of any defined limits.

Note: If you are enabled for ACH Prefunding you must initiate unbalanced batches.

If approval is required (for any reason), a message will display on the screen with further instructions.

If you have started making changes but cannot complete them or cannot submit the batch immediately, click the Save button. The batch will be saved in its current state, and later on you can go into the Edit Batch function to complete your editing and submit the batch.