ACH Recurrence

ACH Recurrences

Form

  • Originator ACH Account – Used to set the originating account for this debit.
  • Description - A user supplied description field to explain the purpose of the recurrence.
  • Transaction Type – Should the recurrence debit or credit the clients account.
  • Amount – The per-transaction amount. Each time the recurrence schedules a payment it will schedule it for this amount.
  • Schedule Type – Should the schedule use the day the transaction is scheduled (default) or the day the transaction will hit the merchants account. This mainly affects recurrences with a non-every weekday schedule. For instance, a recurrence with the schedule type of originate set for weekly on Tuesdays will create a transaction each Tuesday. This transaction will actually hit the clients account the next business day. On the other hand, a recurrence with a schedule type of effective set for weekly on Tuesdays will create the transactions in the system on Monday in order that it will hit on Tuesday.
  • Bank Account – Sets the client bank account this transaction should affect.
  • Recurrence – Sets the schedule used to create transactions with. Options include Daily on weekdays, or a custom schedule. (Please note, the term Weekly on Weekdays should be used interchangeably with Daily on Weekdays.)
  • Start Date – The first day this recurrence should begin scheduling transactions. (Please note, if setting a recurrence with a schedule type of effective, the start date should be the business day before you want the first transaction to be scheduled.)
  • End Type – There are five options for user set end types which when met will stop the recurrence from continued scheduling of transactions.
  1. No End – The recurrence will not automatically end. Until it is stopped by a user or a closure return.
  2. End After Occurrences - An additional field will be displayed that accepts a number of times this recurrences should create transactions. (Please note, any transaction created by this recurrence will be included in this end type calculation, including canceled and returned transactions.)
  3. Total Amount Paid on Client – An additional field will be displayed that accepts a total amount the client should be charged. Canceled and returned transactions are not included in this amount. This will include debits to this client created manually, or by other recurrences.
  4. Total Amount Paid on Recurrence - An additional field will be displayed that accepts a total amount the client should be charged by this recurrence. Canceled and returned transactions are not included in this amount. This will not include any debits to this client created manually, or by other recurrences.
  5. End Date - This recurrence will continue to create transactions until the end date is reached. This will not take any other transactions into account.
  • Include Bank Holidays – This switch is used to set whether a transaction should be scheduled on Bank Holidays. ACH transactions are not created on Bank Holidays. That said, you are able to set a recurrence to create transactions on the Bank Holiday. These transactions will be sent out on the next business day. This is particularly useful when setting up a weekly debit. If a Weekly (or Monthly) debit falls out on a Holiday, and this option is not selected, the transaction will be skipped. (Please note, a recurrence with a Daily on Weekdays schedule will create two transactions on the day following the business day. Meaning the merchants will see two debits on the following business day.)
  • Currently Active – Used to enable/disable a recurrence.

Notes

Regular ACH Transactions hit the merchants account the business day after the (business) day on which they are scheduled.

The ACH Recurrence program runs every morning at 8:00. It reviews each recurrence schedules transactions for each one that has a debit matching that day.

When creating a recurrence after the recurrence program has run, setting the start date to Today will create an initial transaction immediately, which will hit the clients account the next business day.

When Modifying a recurrence two new switches will become available.

When modifying a recurrence, which you want to begin immediately, you should checkoff the switch “Create a new transaction for today”. This will schedule the transaction immediately, to hit the next business day.

An additional thing to consider when modifying a recurrence after 8:00 is whether a transaction was already sent to the bank with the older settings. When set, the switch labeled “Cancel Todays current transaction” will attempt to cancel the most recent transaction this recurrence created. It is a good idea to confirm that the transaction was in fact canceled, by looking it up on the transactions page.

Please send any questions to support@goach.com