How do you reconcile/reconciling ACH Payments?

Original post:

Chris Johnson, The Regence Group

Our settled ACH payments are reported on our bank statements (BAI2 files) aggregated, rather than listed individually like cleared checks. Therefore, we don’t use PeopleSoft’s Automatic Reconciliation to reconcile ACH payments. Rather, we’ve implemented a process to mark the ACH payments as reconciled in the Payables system after a given number of days past the payment’s Settlement Date. I’d be interested in learning a couple things: 1) How do you reconcile your ACH payments in PeopleSoft? 2) If an ACH payment is returned by the bank after it has been reconciled, how do you un-reconcile the ACH payment so that it can be voided?

Thanks! Chris Johnson / Business Systems Analyst / Cambia Health Solutions

Replies:

Alicia Kinsey, KAR Auction Services, Inc.

The latest PUM Image has new functionality to reconcile many items to one, which will allow you to auto reconcile all ACHs sent in a batch to the one line item in the bank statement. We are hoping to start using this soon to reconcile our ACHs.