e-cheques… …or how we learned to stop worrying about printing and distributing cheques and start...
TRANSCRIPT
![Page 1: E-cheques… …or how we learned to stop worrying about printing and distributing cheques and start loving direct deposit Denise Cordrey & Leanne Rooney dcordrey@ecuad.ca](https://reader036.vdocuments.mx/reader036/viewer/2022062417/551ac84e5503466b6a8b5078/html5/thumbnails/1.jpg)
e-cheques……or how we learned to stop worrying about printing and
distributing cheques and start loving direct deposit
Denise Cordrey & Leanne Rooney
![Page 2: E-cheques… …or how we learned to stop worrying about printing and distributing cheques and start loving direct deposit Denise Cordrey & Leanne Rooney dcordrey@ecuad.ca](https://reader036.vdocuments.mx/reader036/viewer/2022062417/551ac84e5503466b6a8b5078/html5/thumbnails/2.jpg)
WHO?
• Small University in Vancouver, BC specializing in Art, Design + Media
• Offers 4 year Bachelor Degrees and 2 year Masters Degrees as well as a thriving Continuing Studies Department
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• 1,700 credit students & 1,200 Continuing Studies students each semester
• 120 staff & admin
• 150 credit faculty & sessionals
• 65 Continuing Studies faculty
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WHAT?• Electronic transfer of funds from one bank
account to another
• Processed through your Finance/AP module
• Does not interface with the HR/Payroll module
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WHY?• Sustainability• Convenience• Clears faster – no more trips to the bank• No more lost or stale dated cheques• No more sorting and distributing paper
cheques• No more mailing costs/cheque paper costs• No more printer jams
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HOW?
• we started with e-cheques for students
• we felt we would get good buy in from that group because of the convenience and immediacy
• soft roll-out, participation was optional
• considering compulsory full participation for Fall 09 term refunds
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• we are now rolling out e-cheques for employee expenses
• full roll-out in September 09
• many staff have ‘heard through the grapevine’ and have already chosen to sign up
• haven’t tackled Vendors Payments yet, but in the future…
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Getting Colleague Ready
Start in your TEST account and work with your Bank to make sure it all runs smoothly before
moving anything to PRODUCTION
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First thing - Bank set up
• Your ‘in-house’ bank administrator will set up the person transmitting the file
• Talk to your bank – they will help to define what you need
• You will need a different Canadian client number for e cheques that is not the same as your payroll routing code
• Talk to the bank’s IT group regarding setting up a testing schedule
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BKCM (detail on EFT Information Field) → ECPD
Set ‘Process e-cheques’ to ‘Yes’.
Either use the US EFT format or the EFT subroutine. Datatel delivered sub routine is set up to Royal Bank standards.
‘Include Carriage Return’ – set to ‘No’.
Canadian client number for AP e-cheques that is not the same as your payroll routing code.
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Then, turn the e-cheque process on:APDE - AP Parameters definition – at the bottom third of the screen
‘E-mail types’ - More than one e-mail type can be entered.
We created a return email that can be checked by more than one user in the Finance Department.
Detail to APEP
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APEP – AP e-cheque Parameters
Set ‘Allow e-cheque payments’ to ‘Yes’
Enter the maximum amount your institution will allow for each e-cheque.
Select the default advice method for notifying payees that their cheque has been processed.
Compose your notification paragraphs.
Terms and Conditions entered here will appear on the website when students/staff register their bank accounts to receive e-cheques.
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e-mail advice set-up:
Payee, date and bank account number will populate in the email
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Sample of advice e-mail:The bank account number will automatically populate in the e-mail
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Enter Bank Account Numbers
You have options:
• Send out instructions to show participants how they can enter their own information using WebAdvisor
• Make forms available for participants to register to receive e-cheques then enter the data manually
• Get signed permission forms from employees that would allow you to copy information from the payroll account (you can’t assume they would use the same account)
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Using WebAdvisorAdd the link to your menus:
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Add the Bank information:
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How to find the correct Bank Account Number:
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…or Manually
BAIE – Bank Account Info Entry
• At the address resolution screen on the selected PERSON file, Colleague wants you to select an address to attach the bank information to.
• IMPORTANT: F9/Update will take you to a default bank information form and will work for any address on that file
• OR - Set up the Bank information for a specific address listed (for Vendors)
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BAIE
Canadian banks (or at least ours) do not need the Routing Number or Pre-Note.
Select the Account Type and ‘email’ or ‘paper’ advice.
If bank info changes, add new info on the next line. This automatically makes the old info ‘Historical Bank Information’.
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Everything is in place
• You have dealt with your bank to arrange User security, an AP routing code, a testing schedule
• Colleague is set up
• Payees Bank Accounts are in BAIE
• You are ready make payments without printing and distributing cheques!
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e-cheque/paper cheque workflow
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CKSE - Cheque Payment Selection
The same as you would normally run paper cheques except:
Allow e-cheque payment
Select cheque Production type
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Combined paper and e-cheque report
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ECHP – e-cheque Production
Export file name populates with current date embedded
Posting Method options include:
•Report only
•Update from report
•Immediate update
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e-cheque report
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e-cheque/paper cheque workflow
![Page 28: E-cheques… …or how we learned to stop worrying about printing and distributing cheques and start loving direct deposit Denise Cordrey & Leanne Rooney dcordrey@ecuad.ca](https://reader036.vdocuments.mx/reader036/viewer/2022062417/551ac84e5503466b6a8b5078/html5/thumbnails/28.jpg)
Bank Reports
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Financial Exports Record DeletionFERD
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Lessons Learned
• If you have your Users entering their own Bank Account Numbers, be prepared for some level of inaccuracy
• Think about ways to make it easy for people to participate– Give them easy access to foolproof instructions – Publish times when someone is available in your office to assist them?– Help Line?
• There are Bank fees for this service– Find out what your bank charges– The better the buy in from your Users, the more cost effective it becomes
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Any Questions ?