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how do we process ACH Transactions in dynamics ax?
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Hi Harry,
I've come across what might be called ACH Transactions in terms of making electronic payments to vendors. Is this what you mean? Can you give us more detail on your requirement?
Try it:
community.dynamics.com/.../81292.aspx
Also :
www.erpforfinancialservices.com/.../automate-banking-ebanking-suite-dynamics-ax
Hi Guy,
Automated Clearing House (also referred to as ACH) is the network that processes electronic financial transactions in the United States. This contains large volumes of credit and debit transactions in batches from a variety of different types of organizations and businesses. Examples of ACH credit transactions would include direct deposit payroll and payments to vendors made electronically. ACH direct debit transfer examples include consumer payments on things like insurance premiums, mortgage loans, cell phone bills and other monthly types of expenses.
Both Vendor & Customer transactions are possible in ACH.
While it may seem similar to a wire transfer, a transaction accomplished with the help of an automated clearing house (ACH) is not the same thing.
When you arrange for the electronic transfer of funds, all of the information is included in a batch, which is then sent to the clearing house. All of the transactions in the batch then handled by the clearing house, rather than as a direct bank to bank transaction. Additionally, banks receive their ACH transactions at once as well, processing those as a single transaction, in a batch. This simplifies the process, since each individual transaction does not need individual attention; it is all automated.
Bashir, The link that you provided did not help as it was asking question about post processing while I want to know how it is processed. Sorry I am new to the world of AX
Thanks Harry,
Are you a clearing house that wishes to process ACH transactions, or do you want to send ACH transactions to a clearing house? If the latter, what transactions (from AX) do you wish to send?
Thanks for the response Guy. I would like to send scheduled monthly Customer Payments to ACH. I would also like to send Customer Refunds and Vendor Payments.
And I would like to do them in bulk if I have the option since the Customer receipts are scheduled anyway,
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