ACH Outbound File

You can find the ACH Outbound function under the Outbound tab. Use this function when you want to send financial institutions information about borrowers who have ACH payments due within a specified time period. When you click on the Add icon, you will create an ACH Outbound extract file containing borrower, payment, and account number data that you can send to the corresponding financial institution. Additionally, a Payment Inbound file is created at the same time.

To Create a New ACH Outbound File

Enter the following information on the ACH Outbound File screen and click on the Add icon.

*Field Name*	*Required?*	*Size/Format*	*What to Enter*
Transaction Date	Required	8 numeric characters	Format is mm/dd/yyyy or drop-down box. The Transaction Date will default to two days in the future, but can be modified.
From	Optional	8 numeric characters	Format is mm/dd/yyyy or drop-down box. Select From and Through dates that encompass the borrower due dates you would like to include. NOTE: Omission of a "From" date will select all records that have a transaction date prior to the "Through" date.
Through	Required	8 numeric characters	Format is mm/dd/yyyy or drop-down box.
Bank Account	Required	Drop-down list	Choose the bank account from which the ACH payments will be made. This will default to the Bank Account listed in the System Configuration Parameters/Payment Parameters.
Prenotes	Optional	Check box	Check this box to include Prenotes to inform the bank of recent ACH additions and changes. This will include all loans you have set up in Borrower Services/ACH Accounts with a Transaction Type of Prenote. When you check this box, the transaction type of the loan will automatically be updated from “Prenote” to “Debit” on the account.
Debits	Optional	Check box	Check this box to include the “Live Dollar” file.
Honor Bill Holds	Optional	Check box	Check this box to exclude borrowers that have a Bill Hold flag set.
Forecast Only	Optional	Check box	To create an actual extract file, do not check this box. Check this box if you want to see the records that would be contained in your extract file if it were created. If this box is checked, an extract file will not be created. Instead, the system will display a list of the records that meet your criteria.

The system will create an extract file containing all ACH payment loans where the due date occurs within your specified range. If no loan records meet your criteria, the system will display a message that the extract file was not created.

If qualifying ACH payment loans are found, they are written to the ACH Extract file, located in the directory indicated on the ACH Outbound File Creation screen. To view the structure and format of the ACH Extract file, see the ACH Extract File Format.