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E-Check Implementation and Process A Green Initiative by Brookdale Community College Presented by Debbie Almeida Manager, Accounts Payable and Special Projects
What is an e-Check? • An E-Check is an ACH transfer of funds between bank accounts • The ACH file is initiated by the institution and the funds are transferred from the institution’s bank account to the student, employee, or vendor’s bank account • e-Checks are used for student refunds, employee reimbursements, travel advances, and vendor invoices
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
Spread the word! e-Checks have arrived! I’m happy because I know my money is already in the bank – He, on the other hand, can’t find his check! Please Contact Accounts Payable for more info at x 2243.
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 • College’s website • Open house • Print information on student bills
MEMORANDUM TO: Brookdale Community College Employees FROM: Debbie Almeida, Manager Accounts Payable SUBJECT: e-Checks for reimbursements DATE: August 2008 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. ) 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 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 College’s 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. Should you have any questions, please contact Debbie Almeida on Extension 2745, or at [email protected] edu
EMPLOYEE AUTOMATIC DEPOSIT AUTHORIZATION to be used for Employee Reimbursements and Travel Advances
The AP parameter definition screen has additional fields for e-Check processing
Used for the general defaults and parameters of e-Check processing
The Process Students/Employees • Nae Screen - e-mail address type field select the institution’s initials (BCC), the email address submitted on the authorization form (preferably the institution’s 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.
EMAIL INFORMATION ON NAE SCREEN
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
Creating Pre-notes Run ECPP A report will generate after the pre-note file is created and show all vendors included in the prenote upload file Choose options and then import from the Colleague menu Import Script
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
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
Check Workflow CKSE VPFS/PYFM Paper Checks CKPR e-Checks ECHP CKRS ACH File CKPO Send to Bank
Why loose your parking spot and waste gas and money sign up for e-Checks now? !