Versa has the ability to generate ACH file for payments and collections purposes. You would create a payment receipt batch when you are collecting from customers. You would create a payment disbursement batch when you are making payments to outside parties. or create a payment receipt batch if you are collecting from customers.
Go to the Setup menu and EFT/ACH bank information. Create a new record for the bank account you want to use for ACH.
Here are the explanation for fields required
Company ID(Batch Header): This is the Company Identification field that would appear in the Company/Batch header record of your ACH file. This is assigned by your bank. Some banks use your Federal Tax ID for this field.
Bank Name: Name of your bank.
Immediate Origin Bank ID: Assigned by your bank to identify your company's ACH files. Usually federal tax ID. Check with your bank to confirm.
Immediate Origin Name: Usually the name of your company when doing a credit. Check with your bank to confirm.
Immediate destination ID: This is usually the ABA routing number of your bank. Check with your bank to confirm.
Immediate destination Name: This is usually the name of your bank. Check with your bank to confirm.
Account Routing number: ABA routing number of your bank
Bank Account Number: Account number with the bank.
Requested Execution Days(# of the days from today: When do you want the payment to be processed from the date that payment is requested.
Payment GL Account: The bank account in Versa that you are using for this payment/collection.
Account Type: The ACH Transaction Code. Choose it depending on the usage of the ACH payment.
|22||Credit||Checking Account Payments. Example: Outgoing payment to vendors.|
|27||Debit||Checking Account Collections. Example: Collections from customers|
|32||Credit||Savings Account Payments: Example: Payment to employees|
|37||Debit||Savings Account Collections: Example: Collections from customers|