Transcript Slide 1

e-cheques…
…or how we learned to stop worrying about printing and
distributing cheques and start loving direct deposit
Denise Cordrey & Leanne Rooney
[email protected]
[email protected]
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
• 1,700 credit students & 1,200 Continuing
Studies students each semester
• 120 staff & admin
• 150 credit faculty & sessionals
• 65 Continuing Studies faculty
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
WHY?
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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
• 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…
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
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
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.
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
Set ‘Allow e-cheque
payments’ to ‘Yes’
APEP – AP e-cheque Parameters
Enter the maximum
amount your institution
will allow for each echeque.
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.
e-mail advice set-up:
Payee, date
and bank
account
number will
populate in
the email
Sample of advice e-mail:
The bank account number will automatically populate in the e-mail
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 echeques 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)
Using WebAdvisor
Add the link to your menus:
Add the Bank information:
How to find the correct Bank Account Number:
…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)
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’.
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!
e-cheque/paper cheque workflow
CKSE - Cheque Payment Selection
The same as you would
normally run paper
cheques except:
Allow e-cheque payment
Select cheque Production
type
Combined paper and e-cheque report
ECHP – e-cheque Production
Export file name populates
with current date
embedded
Posting Method options
include:
•Report only
•Update from report
•Immediate update
e-cheque report
e-cheque/paper cheque workflow
Bank Reports
Financial Exports Record Deletion
FERD
Lessons Learned
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If you have your Users entering their own Bank Account Numbers, be
prepared for some level of inaccuracy
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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?
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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
Any Questions ?