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Feature - Support for Savings Accounts with ACH Processing

Release Date: 12/13/2023
Version: 8.5 & Up

Elliott now supports the ability to handle savings accounts with ACH processing. To use this feature:

1. Open Accounts Receivable > Customer File Maintenance. Select a customer and then open Special Functions > ACH Information in the menu bar.

2. Add a bank account using F1 or select an existing account. The example below is a sample created for this tutorial.

3. You will be presented with the option Saving Account?. You can access the Saving Account? field by pressing Enter after accessing Bank Account Number in field 3, or if you are adding an account for the first time, you will be guided to Saving Account? after you enter your Bank Account Number.

Saving Account? defaults to "N." Select "N" if the account is a checking/money market account, and "Y" if it is a savings account. If you have previously used the ACH feature, the old ACH account setup will have a blank value for the "Saving Account?" field. The system will treat the blank as an "N."

The setup is complete. You can now credit and debit money from your savings account.

Technical Details

In the past, when we created NACHA file record 6 for the "Transaction Code" field, we used "27" for debit and "22" for credit. Transaction codes 27 and 22 are used for checking accounts. On the other hand, if the transaction involves a savings account, we should use "37" or "32" instead.  The "Saving Account?" default value is "N." If you accidentally change this value to "Y" for a checking account, it may result in your transaction being declined. See the following sample screen on the use of transaction code 37 (Debit Saving Account) and transaction code 27 (Debit Checking Account) in record 6:

You can reference the following article on the transaction code:



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