RE: How to get ACH payment detail into the general ledger?
Hi Lrecker,
I'm interpreting the ACH payments to mean the utility draws money out of your bank account directly, rather than you submitting a file to the bank telling them to pay the utility.
I have set some of my clients up to treat this similar to the way we handle charges made to credit cards. Whenever the utility takes the money, there is a record entered into the bank history with the vendor's name so that you know what the debit was all about. My clients use a download from the bank as the source for an integration. We look for the vendor's name (or whatever key value they use on the trx), take it through a translation table, and import the payable (as a paid payable) into the system.
We use the magic of VB script to pick the relevent characters out of the bank download that we use to translate into the Vendor ID.
It works like a champ, and no manual input is required. We import these as 'cash' transactions into our checkbook and use the bank's trx number as the number on the cash transaction. That way, it doesn't get messed up with our regular checks, and it's easy to reconcile back to the bank statement.
Kind regards,
Leslie