This article was developed to describe how to add an ACH Client Debit to an advance with the option to manually clear it or have the transaction be picked up by the processor.
Steps for How to Add a payment manually on an advance.
For this example, I will manually add a $400.00 transaction to an advance with an account and RTR balance remaining of $12,000.00.
Location: CGo to the Client Dashboard associated with the advance > Click Adavnces > Click Edit Advance > Clock on Payments Tab.
Step 1: Go to edit the advance that you are applying the ACH Client debit to and click on the 'Payments Tab' on the left-hand side within that advance.
* Add Payment - Click 'Add Payment'.
- * Type - You are going to select 'ACH Client Debit.'
* Subtype - No – Leave the Subtype as 'Select.'
Note*** Selecting a subtype that is not saved in your 'Advance Settings tab>Payments>Sub-Types Impacting RTR Balance' section will make it so that the manually entered debit will not account towards the account and RTR balances.
Please take a look at the Advance Settings article overview for more information on configuring your advance settings.
- * Associate Advance - Select the associated advance ID for the transaction you add. (This should auto-select to the advance you are editing)
- * Process Date - Select the process date of when the wire transfer was received.
- * Occurs - Enter '1' for occurrence.
- * Amount - Enter the desired amount of the ACH Client Debit, in this case, $400.00.
- * Memo - Input 'MCA ACH Draft' (Optional).
- * Actions - Select 'Schedule Transaction' and click 'Save.'
- * Add Payment - Click 'Add Payment'.
After saving, navigate to the payments tab to see the transaction in the 'Open' status.
Now, you have two options for proceeding with the open debit that has been added.
Option 1: Adding an ACH Client Debit so that the ACH processor picks up the transaction to be processed.
Note*** You must confirm your integrated ACH Processor's batch times to ensure the payment you add gets picked up and processed before the scheduled batch time for the integrated ACH Processor of your CRM.
List of our integrated ACH processors and details of their batch times.
As long as the debit was added correctly before the scheduled batch time, the open transaction will get sent to your integrated ACH Processor on the next scheduled batch times of one of the integrated articles listed above.
Option 2: Add an ACH Client Debit transaction and manually mark the transaction as cleared to reduce both Account and RTR Balances.
First, click the edit icon next to the open transaction.
Next, in the actions dropdown, you must select 'Mark as Cleared' and select the cleared date of this transaction. (The date you received the funds)
Note*** If you have syndicates participating in the deal, check the 'run syndicate splits' check box before saving the transaction.
Then, click 'Save' and navigate to the payments tab to see the transaction has now been updated to 'Cleared.'
Now, you should see that both the Account and RTR Balances on the advance have been reduced by $400.00.
This is how to add an ACH Client Debit to an advance with the option to get the added transaction batched by your integrated ACH Processor or manually clear it for reporting purposes.
Please reach out to Support@centrexsoftware.com for any questions.