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    Add and Edit ACH Accounts
    • 26 Jan 2024
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    Add and Edit ACH Accounts

    • Updated on 26 Jan 2024
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    Article summary

    Add and Edit ACH Accounts

    FIMS allows you to make payments to grantees using Automated Clearing House (ACH) transfers. In order to do this, you must first enter information on the grantee's bank account to which you wish to transfer payments.

    There are two caveats about using ACH transfers:

    First, the bank account information you will enter here is sensitive and your organization will be responsible for safeguarding it.

    Second, if the grantee some day moves to a different bank or opens another without informing you, you may find yourself transferring payments to a closed account. The feature is best suited for those to whom you make regular (e.g., monthly) payments.

    ACH accounts can be added or edited from a Profile's Grantee tab by selecting the Payee radio button in the lower section and clicking the ACH Accounts button. ACH accounts can be also added or edited from the Vendor Tab by selecting the Payee radio button in the lower section and clicking the ACH Accounts button.

    How to add a new ACH account to a grantee or vendor record:

    1. Click the ACH Accounts button on the Vendor or Grantee record:

    2. In the ACH window that opens, click the New button on the top left:

    3. Enter in the information for the account and click the Save button on the top left then Close when done.

    Field

    Description

    Nick Name

    Here you can enter a nickname for the account, e.g., "BSA's Checking Acct"

    ACH Routing Number

    The routing number for the grantee’s ACH account.

    ACH Account Number

    The account number for the grantee’s ACH account.

    ACH Account Type

    The type of account that is used for ACH transactions. The default value is Checking. A type of Savings is also valid.

    The information in this field is included in the data file for the Check Export.

    ACH Institution Number

    The four-digit institution number of the Payee's bank, if using ACH payments.

    ACH Branch Number

    The five-digit financial institution branch number associated with ACH payments.

    ACH Currency Code

    The three-character code (e.g., USD for US Dollars) that defines the currency type for the recipient bank.

    Grantee\Vendor Added

    Read-only field that indicates the date when the Grantee or Vendor record was added to the system.

    Changed

    Read-only field that indicates the date when the record was last changed.

    By

    Read-only field that indicates the name of the user who made the last change to the record (or the user who created the Grantee record if no changes have been made).

    To edit an existing ACH account:

    Select an existing account in the list and click the Edit ACH button. Make any needed changes, then click the Save button on top left then Close.

     

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