Creating Homeowner ACH Batches
Creating Homeowner ACH Batches
Homeowners may choose to pay their assessments via ACH by drafting funds automatically from their bank account.
Setting up Homeowner ACH Payments
After receiving the required authorization from the homeowner, complete the ACH setup:
NOTE: Automatic ACH payments can be made if an association is banking with a partner bank, or an ACH file may be generated for a non-partner bank if the proper setup has been completed. Contact the CINC Implementation team to determine if an ACH file setup is available for non-partner banks.
Select Homeowners > Homeowners. If you are using universal navigation, click Residents > Residents > Resident List.
Search for and select the desired homeowner and association.
From the list of search results, click on the appropriate homeowner to view the Primary Homeowner Information screen.
Select Automatic ACH from the Billing Type dropdown.
Complete the following fields and click Save:
Account Type: Select Checking, Savings, etc. from the dropdown.
Routing Number
Account Number
ACH Start Date (optional): Do not enter a date other than to delay the start of the ACH draft.
NOTE: Setting a start date may exclude a homeowner from the batch if the Start Date falls within the seven-day window before the ACH draft date.
Generate Prenote (optional): A prenote can be generated to verify the validity of the homeowner’s routing and account numbers. CINC recommends doing this provided there is a minimum of 10 days available before the draft date.
Click Save.
Select System > Company Profile. If you are using universal navigation, click Settings > General > Company Profile.
Select the Settings tab on the Company Profile screen and verify that the Create Homeowner ACH Payment Files is enabled selected.
Select Setup > Association Setup. If you are using universal navigation, click Associations > View All.
Search for and select the desired association.
On the Association Information screen, verify that the Tax ID number has been entered in the Tax ID field.
Select the ACH Billing Day from the dropdown for the day of the month the system is to generate the ACH file.
Click Save if any changes were made.
NOTE: A global change can be made to change all ACH Billing Day settings for all associations by using the Mass Update tab at the bottom of the Setup > Association Setup screen. If you are using universal navigation, click Associations > View All.
Reviewing the Batch Posting
A system-generated batch will appear on the Batch Posting screen seven days prior to the ACH billing day and will include a list of homeowners with a billing type of ACH and their payment amounts.
To review the batch posting:
Selecting Homeowners > Batch Posting. If you are using universal navigation, click Accounting > Daily > Batch Posting.
Click on the Batch No. (number) to be reviewed to generate a Batch Audit Report.
Assigning the ACH Batch for Editing
Edits may include increasing the amount to be drafted if a homeowner has given permission to draft other charges, removal of someone that has asked to have their draft discontinued after they were already included in the batch, or adding a new homeowner to the batch for homeowners that gave authorization after the batch was generated. To edit the ACH batch, the batch must be assigned to the user on the Batch Posting screen.
To assign a user to a batch for editing:
Select Homeowners > Batch Posting. If you are using universal navigation, click Accounting > Daily > Batch Posting.
Select the checkbox next to the batch.
For each batch, choose the user from the Assigned field.
Click Save.
Once the batch has been reviewed and all of the edits have been made, select Homeowners > Batch Posting. If you are using universal navigation, click Accounting > Daily > Batch Posting.
Change the Close Date to the date of the transactions in the batch or the correct draft date (which should be the same).
Select the checkbox next to the batch to post and click Post.
NOTE: Batches should be posted no later than the day before the draft date.
Once the batch is posted, the following actions will occur:
Payments will be posted to the homeowners’ accounts.
A deposit will be created in the bank account register.
A journal entry will be made on the general ledger.
Sending the ACH File to the Bank
The ACH file will be created and sent to the bank on the draft date automatically for associations banking with a partner bank or placed in the queue if non-partner bank. Overnight process will be available on the morning of the ACH billing day if the batch was posted on the day before or earlier.
To save and send the ACH file to the bank for processing:
From the File Queue screen, click on the Description link of the file to save.
Save the Type as All Files to ensure the original format and column alignment is intact. The file must also be sent to the bank on no later than the ACH billing day.