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#846463 - 10/31/07 05:53 PM Procedures for G/L entries via ACH
Countess Kiwi Offline
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Joined: Jun 2002
Posts: 1,815
I am wondering what type of procedures other institutions have in place to answer the 8.2.D question of the ACH audit workbook. The specific question is "What procedures are in place regarding XCK, G/L and Loan entries?"

What exactly are they looking for? I know we can choose whether or not we want to accept/originate XCK entries, but can't find anything regarding what they would want pertaining to G/L entries.

If I remember right, at my previous bank, we could pay our ACH training, etc fees through a designated G/L account. But I don't recall if we just signed the agreement saying they could pull from that G/L, then we verified that the transaction was appropriate.

Do what you can, with what you have, where you are.
~Theodore Roosevelt~

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#1625835 - 11/08/11 06:34 PM Re: Procedures for G/L entries via ACH Countess Kiwi
Rob Maloney Offline
New Poster
Joined: Mar 2011
Posts: 1
Was an answer ever posted to this question? I would like to compare XCK procedures and other ACH procedures.

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#1630310 - 11/18/11 04:55 PM Re: Procedures for G/L entries via ACH Rob Maloney
kiemo Offline
Gold Star
Joined: Jan 2009
Posts: 267
I believe the procedures that would answer 8.2.D are ones that state the institutions decisions that have been made with respect to whether or not the institution will accept XCK, G/L and/or loan entries. Some institutions chose not to accept one or more of these type on entries. Often the reasoning is as simple as the fact that they are very small and/or chose not to invest in software that would allow these type of entries to automaticlly post (without manual intervention). Hope this helps.

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