ACH Payment Processing
The Lease Accounting and Management and the
Loan Accounting and Management systems allow you to designate customers that
process their payments through an Automated Clearing House (ACH). The
A.L.S. system can gather information regarding standard monthly payments for
these accounts and post the anticipated payment. This optional software module works in
tandem with our Automated Payment Processing Module.
A process will be made available to you to gather these monthly payments
for a range of payment due dates. Once
the data is gathered the operator is given an ACH Payments For Processing
Report detailing the accounts to be updated. After review of this report the operator
need only enter the name of the file shown on the ACH Payments For Processing
Report into the Automated Payment Processing Module main screen and
from there each payment in the file is updated to the proper account. In the event that you receive a notification from your
internal ACH process that a payment could not be pulled, it is easy to reverse
the automated payment and post it when the funds are made available. All the payments processed through the Automatic
Payment Processing Module appear on the Posting Journal Report and
are reflected everywhere payments processed individually would be.
Account payment history inquiries are updated and current
balances reflect the payment immediately. A.L.S. can, with detailed specifications,
also provide you with an export file for import to an ACH System if that
system allows for imports. Our
standard Lease and Loan Systems allow you to store bank account information
and ABA numbers for each of your customers.
In some cases you may even be able to create your own export file using
our powerful Data Extract Module. Give
us a call and we’ll be glad to discuss all the possibilities in today’s ACH
processing world!
