Jay Wigdore | Fascinating Ach/echeck Payment Process Tactics That Can Help Your Business Grow

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E-Check Implementation and Process

• A High Risk Specialist at Gopaymentpros.com
• Jay Wigdore

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Benefits of Implementing e-Checks

• Safety
• ACH transfer is one of the safest methods of fund
  transfer
• ACH transfers reduces risk of fraud
• No lost or stolen checks
• Cost Savings
• Paper/Envelope cost
• Postage
• Print Costs
• Reduced labor
• Time Effective
• No need for replacement checks
• Simplifies bank reconciliations
• Faster Receipt of reimbursement
• Eliminates escheat possibilities
• 
  
  

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Spread the word! e-Checks have arrived!

• Im happy because I know my money is already in
  the bank
• He, on the other hand, cant find his check!
• Please Contact Accounts Payable for more info at
  x2243.

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Spreading the word

• Employees
• Email
• Advertising
• Flyers/memos
• Verbal communication
• Vendors
• In addition to all of the above
• Work with your purchasing department to
  communicate the program
• Include information when mailing invoice payments
• Students
• Colleges website
• Open house
• Print information on student bills

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The e-Check transmission will allow
automatic deposit of Employee Reimbursement
Requests, Travel Advances, and Monthly Expenses
directly into your bank account. This process
will expedite reimbursement payments and will
increase payment flexibility

e-Checks, aka, Direct Deposit is coming to
Brookdale Community College for travel advances,
travel expenses, and monthly expense report
reimbursements. Reimbursement will be available
electronically! (This electronic transmission is
a separate function from the EFT you receive
through the payroll department.)
Employees wishing to utilize the electronic
reimbursement process are to complete the
attached Employee Automatic Deposit Authorization
sheet and return it to Accounts Payable, BAC
Building, Attn Debbie Almeida, as soon as
possible. Your employee records will be revised
to reflect your banking information and the
information will be stored in an encrypted format
on the Colleges network. The encryption complies
with all current banking regulations and cannot
be viewed by other system users. A pre-note will
be created to verify the information and ensure
that funds are deposited per your direction. Once
your bank confirms the information, reimbursement
payments will be direct deposited into your
account. You will receive an automated email
notification of the date and dollar amount
transmitted to your account.
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The AP parameter definition screen has additional
fields for e-Check processing
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Used for the general defaults and parameters of
e-Check processing
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The Process

• Students/Employees
• Nae Screen - e-mail address type field select the
  institutions initials (BCC), the email address
  submitted on the authorization form (preferably
  the institutions e-mail address and enter a Y
  as the preferred address
• Vendors
• Vend Screen Detail into demographics, go to
  Additional Organization Info (AORG) and under
  e-mail, in the drop down box next to e-mail
  address select ECK (e-check processing) add
  e-mail address supplied by the vendor on the
  Authorization form.

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EMAIL INFORMATION ON NAE SCREEN
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Enter the Bank Information

• All bank information is entered in BAIE
• Select the vendor
• Input the routing number (Colleague will send an
  error message if the routing number is invalid),
  select y in e-Check Pay, select
• e-mail under e-Check advise, enter the bank
  account number and account type

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Creating Pre-notes

• Run ECPP
• A report will generate after the pre-note file is
  created and show all vendors included in the
  pre-note upload file
• Choose options and then import from the Colleague
  menu
• Import Script

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Each vendor must be pre-noted to the bank. This
is done using ECPP. You would enter either a
saved list of vendors you want pre-noted or enter
the specific vendors in the vendor list. Number
two, prenote file name, is the name of the
pre-note file that will be stored in
FINANCIAL.EXPORTS when the pre-note process has
completed. All vendors must have bank
account information setup on BAIE in order for
them to be pre-noted
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Check Processing

• CKSE
• Enter Y to allow e-Checks
• Enter E in Check Production Type for e-Checks
  only
• Enter B for both paper and e-Checks
• The CKSE report will show both paper and e-Checks
• Run ECHP to produce an e-Check upload file
• A report will be produced showing the e-Checks
  that will be in the upload to the bank run
• Run ECHP again, this report will give you the
  name of the file that will be used to do the bank
  offload

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Check Workflow
CKSE
VPFS/PYFM
e-Checks
Paper Checks
ECHP
CKPR
CKRS
ACH File
CKPO
Send to Bank
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Why loose your parking spot and waste gas and
money sign up for e-Checks now?!
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Some Links provided here for more information
about Payment processing

• https//www.facebook.com/public/Jay-Wigdore
• www.whitepages.com/name/Jay-Wigdore
• https//twitter.com/jaywigdore1
• https//www.owler.com/iaApp/10634543/jay-wigdore-c
  ompany-profile
• https//www.youtube.com/channel/UCt7lwEQBS6hqsCvXq
  9jk3uQ