Does Your Accounting Team Know that Daily ACH Tasks are Different, Starting Today?

If you are responsible for handling daily ACH exceptions, you now have two CU*BASE tools you need to use every day.  Are you ready?

With a heightened level of attention being placed on member fees for NSF and non-returned items posted via the ACH channel, we have divided CU*BASE ACH Exceptions into two separate dashboards, accessible by two different tools – one for NSF exceptions and another for all ACH exceptions.

When ACH exceptions are processed through the initial posting, each item is now marked with details of what happened when it was processed.  These details allow us to break out transactions into different dashboards according to the reason they appear on the exceptions listing.

 A Note for Security Officers: with the debut of Tool #1875 and Tool #1876, Tool #983 (Work Daily ACH Exceptions) as been sunset.  Please review and reassign permissions to anyone previously using Tool #983.

ACH exceptions must now be worked in the following two-step process:

Step 1: Work Non-NSF Exceptions

Use the new Tool #1875: Work ACH Exceptions to handle all unresolved ACH transactions other than NSFs.  These include invalid account numbers, frozen accounts, closed accounts, international items that failed an OFAC scan, unauthorized items and stop pays, pre-notifications, etc.  Each of these items would need further attention before posting to a member’s account or returning them – these can include verifying against stop pay orders, correcting an invalid account number and other procedures your credit union considers appropriate for each exception.

Step 2: Work NSF Exceptions

 Use the new Tool #1876: Work ACH NSF Exceptions to process NSF exceptions – items that attempted to post to a member’s account but were reversed due to insufficient funds.  By segregating these functions, we can clarify that the re-post feature works differently when performed on an NSF item versus any other type of exception, since NSFs have already hit the account’s transaction history.  And if your credit union typically returns all your NSF ACH items, this new dashboard will make the process easier – all you need to do is click the ‘Return All’ button to return all NSFs (with no further action required).