Transferring funds between your accounts

Overview
This point and click window allows you to move funds between your accounts, even if your accounts are in different banks.

Old Methods of Consolidating Funds
If your company maintains depository accounts with multiple banks, in the past, in order to consolidate/sweep funds to your corporate consolidated account, you had to:
--write a check from the depository account (slow), or
--initiate a wire transfer (expensive).

New Method of Consolidating Funds
Now with ACH Universal, you can quickly and inexpensively transfer funds using our Transfer Window, regardless as to which bank holds the accounts.

Detailed Information
1. Setup - Before you can transfer funds, you need to enter into the system each account's routing/ABA number and account number.

You will need to enter at least two accounts to make a transfer, one in each category:
--Master Account - only one - represents the account you are working in (represents the ACH origination account named in the upper right corner of your screen). This account will be included in all transfers.
--Corporate Controlled Accounts - use for all other accounts.

1.a. Manual Input - You can simply enter the accounts in from the main menu 'Edit', 'Edit/Add Corporate Transfer Accounts', then click on the '+' (add) icon on the toolbar.

Enter:
--Account name (will populate the Transfer selection box)
--Routing/ABA and account number.
In addition, select whether the account is the 'Master' account (only one), or simply a 'Corporate Controlled Account'.

1.b. Import a list of accounts - Prepare a worksheet or similar document with the following fields:
--Account name (will populate the Transfer selection box)
--Routing/ABA
--Account number
--Type of Corporate Transfer Account, 1 - Corporate Controlled Account (unlimited number of accounts), 2 - 'Master' Account - represents the ACH enabled account (only one account). Map to ACH_CEV_Ext0_Int1_Orig2.

Import the worksheet from the main menu at 'Import', 'Customers, Employees and Vendors' (yes, it is the same format, that is why you map the type field to 'ACH_CEV_Ext0_Int1_Orig2').

2. Using the Transfer Window
Select the account you want to transfer funds to and from. Enter the amount and modify the date as needed, and then click 'Make Transfer'.

Notes:
• The execution order of transfers is determined by your bank, not your sequence of entries.
• You must 'Transmit to Bank', just as you would any other transaction.
• The 'Master' account must be one of the accounts to/from (this is how your service is set up with the bank).
• The default effective date is determined by your entry in the 'File', 'ACH Setup' Wizard. You may modify this entry.