Business Office Manager Training The ACH Process in 7 Steps

Overview In this presentation we will review the tasks associated with the monthly ACH process beginning with resident authorization through communication with the CBO.

ACH Process - 7 Steps Resident Authorization Creating and Updating the ACH Deposit Record Updating the Bank Batch in your Bank System Notification to Property Accountant Verification of ACH Transaction in Banking Notification of ACH batch to the CBO Returns and ACH Rejections- Cash Corrections.

Step 1 – Resident Authorization In order for a resident to pay their monthly bill using the convenient ACH option, the resident must authorize the monthly transaction. Once the resident has authorized ACH transactions, that will transfer funds from their account to pay their monthly bill, the ACH option stays in place until the resident formerly revokes their authorization or moves out.

The Authorization Form Senior Lifestyle’s ACH Form can be ordered from the Quantum Design Center. Residents may select either the 1st day of the month or the 5th day of the month for their routine monthly ACH transfer. Resident must include a copy of a voided check or withdrawal ticket for their savings account. The original ACH form and attached documents should be kept in the resident’s financial folder. Resident’s financial information is confidential and should always be secured so that only authorized personnel have access.

Step 2 - Continued Your first ACH batch must be entered in total by selecting each resident who has authorized an ACH withdrawal and adding them to the ACH deposit record. You will have one record for each withdrawal date. Unless a resident has moved out or revoked their ACH authorization, the residents who were authorized last month will be authorized this month. After your initial batch or batches have been created, you will be able to copy these batches and edit in future months.

Step 2 – Creating and Updating the ACH Deposit Record The Deposit Record is the form that is used to document your ACH Transactions each month. If you have more than one withdrawal date each month you will have a Deposit Record for Each date. Residents can select either the 1st or the 5th for the withdrawal date. You should have 1 record each withdrawal date each month. You will select new cash receipt from the Main Menu.

Step 2- Creating your Initial One Focus ACH Batch Enter Date of scheduled ACH Withdrawal date in Deposit Date Field Select Private-ACH as Deposit Type.. Begin completion of the Deposit Record by selecting each resident who has authorized an ACH transaction on this date. All “Pink” boxes must be completed. to include, Amount, and Payor selection.

Step 2 Payor Selection After you select your resident you will enter amount of ACH, and then Select Payor, from the Payor selection field, you are able to see all payors for the resident with total balance due for the payor. Select the correct private payor. ACH batches are prepared after private billing; due date is on the Monthly Financial Close Calendar. Balance due will include Prebill amounts for the upcoming month. If the ACH amount is different than total due for the payor, add a note to indicate why the ACH will be different than total due for the payor.

Step 2- Continue Adding Residents Add the residents to the batch based on authorization for this specific withdrawal date. Select “S” to save each line. Use the + sign to add lines, or select add line.

Step 2- Copying an ACH Deposit Record. When setting up your ACH Deposit Record for the next month, you will be able to copy the Previous Month’s Deposit Record. All resident information other than ACH Amount will be transferred to your new record. Select New Cash Receipt from the Main Menu Enter the Date of the New ACH Withdrawal Select Deposit Type – Private ACH From the Previous Deposit Dropdown box, locate and select the ACH deposit form the previous month. Select Copy

Step 2 – Entering Amount on ACH Record. The Private Billing Statement is the source document used to determine the amount of an upcoming ACH. ACH Deposit Records are created, following the creation of the monthly statements. Always use the resident statement to determine the amount of the ACH Withdrawal.

Step 2 – Entering Amount on ACH Record.

Step 2 – Adding and Deleting residents from a copied ACH Batch You are able to add new residents to your copied Deposit Record, by simply adding a line. You are able to remove residents from your copied batch by Selecting D to delete a line. You are able to organize the copied record by checking the box “Sort by Resident”

Step 3- Updating ACH in Banking System. After you have entered all ACH Amounts in One Focus and created your ACH Deposit Record. Set Rows to Display All. Print the Record. You are now ready to Log in to your On Line Banking System and create your ACH Batch. Following the required process as indicated by your bank, and update all amounts for each resident account in the bank batch. Add new residents, and remove any residents who have moved out and should not be included. Once you have completed tasks in your on line banking system, view the batch total and compare it to the total from your ACH Deposit Record. In One Focus. The total must be identical. Once the Batch Total in On Line Banking and your One Focus Deposit Record total, tie, you are ready to save and approve your bank batch.

To request bank specific training. Step 3 – Update the ACH Batch for all Withdrawal Dates in your Online Banking System. Senior Lifestyle Communities do not all use the same bank. Creating and editing an ACH batch may vary slightly between banks. Denise Miller, offers bank specific training on the ACH batch setup process for all banks. Contact Denise Miller @ dmiller@seniorlifestyle.com To request bank specific training. Log into your online banking system and select the menu item for ACH transactions. Update your monthly ACH batch for each withdrawal date, by adding or deleting residents and correcting total amounts based on the monthly billing amounts due as recorded on the AR-10 ACH Log. The AR10 information should be replicated in your banking system. Verify that your ACH bank batch total agrees exactly with the ACH total on the AR10.

Step 4 – Submit your ACH Deposit Record from One Focus to your Property Accountant. The Property Accountant is the second approver for each ACH batch you have updated in your online banking system. After you have created your bank batchs, you must notify your Property Accountant that they are able to review and approve your batches. Always review the Financial Close Calendar for the due date. Enter the batch total from your on line ACH Banking system batch report in One Focus and Update. Submit the ACH Record to your Property Accountant.

Step 4 - Continued Always refer to the Month End Close Calendar for the ACH submission due date each month. “ACH Listing in Excel,” Is now submitted through One Focus. One Focus replaces the need to send a separate email attachment. Property Accountant must receive the One Focus Deposit Record on the scheduled date each month.

Step 4 Continued After you submit your ACH Deposit Record to your Property Accountant (PA), you can view the transaction on your One Focus Dashboard. The PA will review the submission, and if there are no issues, they will approve the batch in One Focus. You will see the approval status from your One Focus Dashboard. Following the approval of the ACH submission, the ACH Deposit will display on your Dashboard in a Pending Status

Pending Status After PA Approval After completing Step 4, and the PA has approved the ACH remains on your dashboard as Pending. The Transaction will not be completed until you are able to complete Step 5, Submission to the CBO for posting.

Step 5 – Verify the ACH Transaction in your Banking System Log into your online banking system on the dates that each ACH batch should be processed and deposited into your bank. Compare the amount of the actual ACH deposit to your Deposit Record total to ensure there are no differences. Print and Save the ACH deposit detail from your banking system. If there are any differences between the Deposit Record that was prepared and submitted, and the actual ACH deposit, you must identify the differences. Take the appropriate steps to reconcile and correct any differences.

Step 6 –Submit the ACH Transaction to the CBO After confirming the Deposit in your on line banking system you are able to submit the ACH batch to the CBO so that the ACH transactions can be posted to your resident accounts. You will attach the Proof of Deposit that you printed and saved from your online banking system in Step 5. The deposit total from your bank must agree exactly with the total reflected on the ACH Deposit Record in One Focus. If you had rejected transactions, you are able to remove these transactions from the One Focus Deposit Record and update the One Focus Deposit Total. One you have attached the Bank Deposit Detail; Submit the transaction to the CBO. The ACH Transaction Batch will remain on your Dashboard as Submitted to the CBO. When the CBO receives and posts the ACH transaction, you will be able to view their activity from the Activity Log. When posted, the transaction will be displayed in One Focus as Completed.

Step 6 Submitting to the CBO Return to the Transaction by selecting it from your Dashboard. Attach Proof of Deposit Confirm Review of Totals (Deposit Amount Compared to One Focus Deposit Record. Submit to the CBO

Dashboard and Activity Log One Focus allows you to view the status of activity from your Dashboard. Select Completed to see transactions that were previously received and posted by the CBO. From your Deposit Record you have the option of sending any Deposit Record to your Property Accountant You can also view the Activity Log.

Step 7 – Reporting Rejections and ACH Returns The BOM must routinely review their online banking system to ensure that ACH returns and rejections are identified promptly. The BOM must report ACH rejections and returns to the CBO, that occur after the original deposit submission, so that the resident accounts can be corrected. All rejected or returned ACH amounts are reported to the CBO by the Cash Corrections Menu Option in One Focus.

Step 7 – Reporting ACH Corrections Select Cash Corrections form the Menu. Enter Date of Correction in the Deposit date Field. Locate the Original Deposit from the dropdown box. Select Copy

Step 7 – Reporting ACH Corrections Locate the Rejected transaction in the Deposit and place a Check Mark in the Correction Field. Select Correction Reason from the Dropdown Box At the bottom of the Deposit Record Page, Select “Remove all but Corrected Items.

Step 7 – Reporting ACH Corrections Once you have removed all but corrected items only the transaction that was rejected will be displayed. Make the correction to the original deposit amount by editing the deposit amount; change it to the correction amount. Add a note to describe the transaction.

Step 7 – Reporting ACH Corrections Enter the amount of the Bank Correction on the total of correction field of One Focus. This amount should agree with the One Focus Correction Record Total. Attach Documents from your Bank that show the rejection . Submit the Correction to your ED. For Approval. If you do not have an ED, you are able to submit the transaction to the RDO for approval. ED will receive request to review and approve in their email. Once approved, transaction is automatically submitted to the CBO for posting.

Thank You We appreciate your participation in this training module. If you have additional questions or need assistance with ACH process, contact a member of the Business Office Support Team Denise Miller –dmiller@seniorlifestyle.com Debbie Montoya – dmontoya@seniorlifestyle.com