VENDOR DIRECT DEPOSIT ACH FILE

The report for creating the Vendor Direct Deposit ACH file has been modified. Historically, the 1 preceding the Company Tax Identification field indicated that the ID was the organization’s federal tax EIN. Some banks have now deviated from the standards and are requiring that a different number (or even no number) precede this company tax identification. To help those customers comply with their bank’s particular requirements, this process has been modified so that the number for Position 41 in the 52 Record and for Position 45 in the 82 Record are indicated on the Select tab of the range screen. Numbers from 1 to 9 can be selected; select 0 for no number. Customers who are following the standards do not need to do anything differently as the 1 continues to automatically default.

Product Date: Friday, January 31, 2014

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Other Posts

COPY STANDARD SETUP FOR TAXES

The December 19, 2012, programs release contains a new feature that simplifies the annual process for updating tax tables and tax deduction descriptions for tax...

Read More...

UPDATE ACCOUNTS/DESCRIPTIONS

The process for updating account code descriptions (expenditure and/or revenue) from the Budget Prep module to the Financial Management module has been enhanced. This is...

Read More...