Electronic Fund Transfers module provides valuable time saving procedures involving electronic fund transfers. It can be used to import information from an outside E.F.T. firm or to export a NACHA file formatted for processing by your bank. The automation benefits of the export/import tools will soon pay for the module in time saved not having to post E.F.T. payments individually.
Importing E.F.T.S – Outside Firms
► Process monthly payments received from your bank or outside E.F.T. firm. The import routine can be customized to read any firm’s E.F.T. file.
► Importing fund transfers automatically posts payments which fulfill pledges and activate/renew members.
► Electronic fund transfers report available for balancing purposes
► Report E.F.T. plans that will reach their anniversary in the next month so opt-out notices can be sent.
► Report E.F.T. plans to roll over fixed-commitment E.F.T. plans to multi-year sustaining plans.
Exporting E.F.T.S – NACHA File Directly to Your Bank
► Export routine creates an E.F.T. file in the industry standard NACHA format (National Automated Clearing House Association) accepted by your bank’s E.F.T. software. Consult with your bank’s ACH Manager for specifications.
► The difference between this module and most bank E.F.T. software is that the MemSys version is integrated with the donor, pledge and giving history tables. Doing so avoids having to keep two independent databases in sync.
► Exported EFT payments are saved to the MemSys payment table with their Date Posted field set forward to the scheduled transfer date
► Setup input screen allows entry of all station and bank information needed during creation of the NACHA file. Consult with your bank’s ACH Manager for data needed in the pertinent fields; File Header & Control records, Batch Header & Control records