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Commercial Cash Management
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Yes. ACH batches cannot be processed until they have been approved by someone with the authority to do so.
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A Cash Concentration or Disbursement (CCD) batch is a type of ACH (Automated Clearing House) origination. CCD transactions are debits and credits initiated by an organization to another commercial account to consolidate funds or for credit payments to a branch office, trading partner, vendor, etc.
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An Automated Clearing House (ACH) origination is a transaction that transfers funds either out of the originator's account and into another account (credit) or into the originator's account from another account (debit). ACH originations are grouped in batches of credits or debits and are either processed within the financial institution or are sent through the Federal Reserve Electronic Payment Network.
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PPD transactions are debits and credits initiated by an organization for a recurring or single entry authorized by its customers or employees. Common examples of PPD transactions are payroll and monthly consumer payments (insurance, mortgage, etc.)
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Pre-note batches are used to test the account number and the receiving financial institution's ability to process the items. A pre-note batch contains the same information as a real batch, but the transaction amount is $0.00.
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Cash management allows users to create and schedule ACH Credit and Debit batches, to send Wire Transfers, to create Account Balance Reports and to make Book Transfers.
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5:00PM CST
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This is the date after which you can make no changes to the batch or batch items.
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This is the date the funds will be debited from or credited to the recipient account.
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Consumer transactions (also known as PPD) involve money movement between your business's accounts and consumer accounts. These batches can be debits or credits initiated by an organization for a recurring or single entry transaction authorized by its customers or employees. Common examples of consumer transactions are direct deposit or monthly consumer payments, such as insurance or mortgage payments. The transactions available to you are:
Payroll Batch. Create a new payroll credit batch for direct deposit.
Collect Payment. Create a new debit batch of consumer payment transactions.
NACHA File Import. Import a NACHA file that contains both debits and credits in the same file.
Credit Batch. Create a new ACH credit batch.
Debit Batch. Create a new ACH debit batch.