Bank Feeds & ACH Payments

Angus Aron
Angus Aron
Blackbaud Certified
in Blackbaud Financial Edge NXT® General Discussions

Hi,

Must ACH payments be marked as cleared prior to the payment posting to the GL?

Furthermore, if I match the payment/transaction in the bank feed, will this automatically push the ACH payment to be cleared without the need to manually mark the payment as cleared?

Lastly, we make payment in Financial Edge and utilizing a 3rd part software (Concur). The issues with Concur are (1) the invoices must be manually imported into Financial Edge and (2) the cash outflow in the bank feed is grouped together as a batch, which makes reconciling bank feeds for payments made through Concur time consuming. Any recommendations?

Thank you!

Comments

  • Nikki Baldwin
    Nikki Baldwin Blackbaud Employee
    Tenth Anniversary Kudos 4 Name Dropper Participant

    @Angus Aron, no ACH payments, or payments of any kind, do not need to be cleared/reconciled prior to posting.

    If you mark an item as cleared from the register, it should hold that status when you get to the full reconciliation, yes.

    I know it was recommended to you on another thread you posted to check out Payment Assistant, so I would echo that suggestion. Perhaps a peer will be able to speak to the issues with Concur, but unfortunately I don't have experience with their solution and how you can improve on that import/reconciliation issue.

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