Issuing ACH Payments

Setting Up for ACH Payment

To set up the vendor for check payment, go to the vendor screen and open the vendor. On the vendor card under Payment Type, select ACH. 

For ACH payments Rewardworks requires the vendors bank name, bank account, routing number and account type. The Bank name must be included in the vendor record that is imported into Rewardworks from your ERP. The remaining information can either be included in the vendor record or entered by the user in Rewardworks.

Setting the Contact Preference to Email will email a copy of the payment advice to the vendor. 

The email message indicates a check payment has been issued. The attached payment advice identifies the last four digits of the account the funds will be desposited into and states the funds should be deposited into that account in three to four business days.

Exmple:

Paying Vendor by ACH

All open invoices for the vendor will be displayed on the invoice screen. As invoices are selected, the ACH account will update to display the sum of all invoices selected for payment by ACH.

Rewardworks also provides summary information for the invoices selected for payment.

Once the selection of invoices is completed, click on Pay Invoices. After reviewing the invoices on the Confirmation screen click on Accept. The required information is sent to the check issuing service. If the vendor’s contact preference was set to Email, you will be prompted to send the email. This email only serves as notification that payment has been initiated.

Check and ACH Payments 

On the Check and ACH Payments screen you will be able to monitor the entire life cycle of the ACH issuing process.

In the Filter section, select the status type (Pending, Completed or All). Set Payment Type to ACH. You can add a date range to minimize the number of records returned. Click on Update Status. The payment status will display in the Status column.

Status –

There are eight statuses. However some of these statuses are momentary as the payment passes through the payment processor’s system or uncommon actions. The statuses in bold print are the most common you will see.

Pending Release: Payment has been submitted but not screened by check issuing service

Released: Payment has been screened and is ready to be processed

Processing: Checks only - Check is being printed and mailed

Sent: Printed check is in the mail / ACH have been sent through the bank

Posted / Cashed: Check has been cashed and cleared by recipient

Returned: When a printed check has been returned or payment processor

Cancelled: Payment was cancelled before being processed/sent.

Reissued: When a payment gets resent, another payment record is created and the original is marked as being reissued.

Cancelling Payment

A payment can be cancelled as long as its status is Pending Release. To cancel a payment, go to the Check and ACH Payment screen, set the filter to Check, enter the date range and status to Pending. Click on Update Status. If the transaction appears you will be able to cancel it. Right click on the transaction and select Cancel from the list.

Reports

The information provided on this screen can be exported to a .csv. In the lower right corner, there are two report options, Filtered Transactions or All Transactions.

Filtered Transactions outputs to a .CSV file all records according to the filter settings. All Transactions ignores any filter settings and output all payment records to a .CSV file.