ACH Commit all Submitted Transactions

JulieAton

Do you have a set time of the day you do this procedure?  Do you do it 7 days a week?  Is it necessary?  Thanks

GSI03

This has to do with tenants who pay by check on file--like bill pay.  All our rent is due on the first and we do ours every month on the first. 

JulieAton

GSI03 said:

This has to do with tenants who pay by check on file--like bill pay.  All our rent is due on the first and we do ours every month on the first. 

We auto process on 1st & 3rd but have many tenants that pay online with ACH.  What time of day do you
"Commit all Submitted".  I need to check my emails from processing but seems they go through regardless of committing?

GSI03

We dont have any that pay online, so I dont know that answer.  But after we do the lock check on the first, to make sure on one has moved out. then we process and commit them.

themage

We commit them once a day, usually just before closing. Sometimes any ACH transactions initiated overnight are committed in the morning, too.

As I understand it, ACH is a batch transaction. Submitting them creates a list, and committing them starts the process of transferring funds between bank accounts.

I am not certain if they are automatically committed at close or not. 

As a side note, it is important to "check for returns" regularly, too, since that is the only way Sitelink will catch any NSF or other issues. We check for returns daily.