Alogent recently created a new spreadsheet that helps bankers calculate the cost of their current exception tracking workflows.
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Reg CC Hold Notice Calendar
This is the 2024 update of the Reg CC Hold Notice Calendar. The change over the prior version is the updated 2024 holidays.
This tool is a downloadable Excel spreadsheet designed to allow a user to calculate when funds must be made available under Reg CC. There is also a printable calendar that may be used where computer access is limited. This is based on the Reg. CC Calendar program Andy created and Jim Bedsole enhanced, with an easy to use interface.
Here's how it works: When you open the spreadsheet you will enter the current business date for the deposit date. Adjust that date to reflect the business date on which you are operating, being mindful of when you are working after cutoff hour (on the next business day). Use the pull down menu to select the hold type, and verify the hold release and computer hold release dates. The computer hold release date is set for one business day prior to the hold release.
The standard holds will be released so funds are available on the 2nd, 7th, or 9th business day after the banking day of deposit. Added to this new version is a field for the bank to enter the number of business days applicable to new account holds on other than next-day items. This period is the bank's option, which is why it is user-entered. (The field is restricted to a number between 1 and 30.) This entry will be shown on the calendar tab of this Excel program as well.
This program may be revised from time to time; check for updates periodically. You may use it at no cost, but may not redistribute it. The program comes with no warranties. Please advise us if you see any errors or desired "tweaks" to make it function better for you.
Some versions of Excel require add-ons, be sure you turn on the Analysis ToolPak-VBA as noted in the steps on the Output tab. You should then have no problems with the program.
First published on 12/20/2023
Last updated on 12-20-2023