From: Peggy Hoos (pahoos@ucdavis.edu)
Date: Thu Mar 23 2000 - 08:45:57 EST
At UC Davis cashier's office we are responsible for processing all incoming
electronic funds from federal grant payments to student receivables. We
have solved some of the identification problems by having a prepared form
with all the information required to identify the transactions stressing
where the funds need to be deposited. We have found that the majority of
departments use it or there is a delay in getting their funds. It takes a
while to research unidentified funds.
However, we also have the means to automatically pick up electronic
payments and post electronically to both student receivables and general
ledger. For years I have asked that a banking standard be placed on all
ACH payments. In other words - so many characters for the account number,
then an delineator such as a comma - so many characters for the name of
payee, then an delineator - so on and so on. Just think we could write one
program to pick up and identify all electronic payments, funds, etc.
Until there is some standardization, ACH payments will never be completely
automated and remain time consuming. Does any one know of a group that is
lobbying to standardize the ACH format? It cannot be a problem of just
the universities.
At 03:32 PM 3/22/00 -0500, Whited,Jeanette wrote:
>For those of you who receive numerous miscellaneous payments by ACH - How do
>you determine what the payment is for?
>
>We seem to have difficulty, since the only information we usually get with
>the payment is the name of the payer. Often the department expecting the
>money has not notified us so we need to play detective.
>
>It seemed like we got more information such as a copy of the invoice or at
>least invoice number or some description along with the paper checks.
>
>I hope someone out there has solved this problem.
>
> Jeanette Whited
>
> Treasurer
> Northwest Missouri State University
> 800 University Drive
> Maryville, MO 64468
> Phone: (660) 562-1103
> FAX: (660) 562-1400
> e-mail: jwhited@mail.nwmissouri.edu
><mailto:jwhited@mail.nwmissouri.edu>
Peggy Hoos
University Cashier
University of California Davis
1200 Dutton Hall
Davis, California 956l6
530 752-0462
530 752-5328 - FAX
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