Secure Your ACH Transactions

by: Bill Haskett, President

Secure ACH Transactions Advantos has multiple ways to produce ACH transactions via NACHA files. A NACHA file is the collection of ACH transactions in a single batch that is transmitted to an appropriate bank for processing. NACHA files are processed within 24 hours (usually sooner) and the funds are transferred at that time.

Advantos allows ACH transactions through the Corporate A/R module, the A/P module, the P/R module, and the Trust A/R module. Funds flow in different directions depending on which module is used. In order to use the NACHA system, a written authorization must be obtained by the management company from the unit owner or the employee or the vendor. This form is a standard form that the NACHA operating rules can provide. The authorization normally includes both a signature and a copy of the authorizor's check document that contains the information for their bank account number.

It is imperative that ACH information be accurate and real. It is also important that ACH information is manually verified and secured. Normally it isn't much to verify a unit owner's information as they provide a signature and a personal check, pre-printed by an actual check printing company. In addition funds are normally drawn out of the owner's bank account, and in relatively small amounts. Paying bills through ACH transactions is inherently much more dangerous because funds are going out.

This makes it necessary to verify the information and not rely on electronic means of information transmission because if an error is made the funds are usually long gone before one can do anything about it (e.g. stop payment on a check). Since many management companies are not allowing foot traffic into their offices it is essential to manually verify the ACH information via physically meeting with the vendor and/or making telephone contact and verifying the information that way.

In today's electronic climate it is essential to be able to verify the vendor and their ACH information before making electronic payments. Don't be fooled by email scams!


In This Issue

LiBullet.gif Secure ACH Transactions
LiBullet.gif Our Clients Ask Questions
LiBullet.gif Using Advantos ® to Improve Your Business
LiBullet.gif Our Partners


Customers have access to resources that include an administrative manual, on-line help for each web form, and email support.


Our Partners

Vantage Community Mgmt, located in the Lacey WA area, is one of our many clients within the United States.


Special Notice

Are you using the Advantos ® Customer Service Action Requests? CSARs can track any office contacts and tasks and can be included on the Hometastic Web Portal. This is a great way to track owner contact and Board assignments for presentation at Board meetings; let them see how much work you are doing!


Our Clients Ask Questions.

See what our clients are asking. How do we pay bills via ACH? Advantos allows you to pay bills by creating ACH transactions instead of by printing paper checks. The application records and reports these transactions just like before but these ACH transactions are tagged as such. This means you cannot re-print or void these transactions, since they clear almost immediately. So, be very careful.

The first step you take is to get a signed ACH authorization from the vendor. This authorization should include a "deposit ticket" for their bank account to ensure you have the proper banking information for the specific vendor. Just enter this ACH information as you would any other via the Vendor Maintenance web form in Advantos.

All subsequent checks prepared for this vendor will create a NACHA file during each check-run. These NACHA files must then be submitted to the appropriate bank to be processed.

Using Advantos to Improve Your Business Success

Using Advantos to improve your business success. Advantos ® ERP software was designed to work as the core of a property management business. All of the processes are designed to assist the management company to be more efficient, resulting in improved profitability. Our Accounts Payable module can create NACHA files to pay bills and can import invoices, say from a utility company, en masse.

All of our modules automatically interface with the General Ledger module, where all standard general ledger reporting is accomplished in a "Trust" and secure environment.

Our Corporate Receivables module allows the maintenance of the corporate A/R by automatically tracking and creating transactions rather than forcing users to manually post transactions to the G/L separately, which is not recommended. This module also allows NACHA files to be built to transfer funds from clients to the management company.

Advantos ® modules all integrate seamlessly with the other Advantos ® modules in order to make management of all the transactions you will encounter easier and more secure.

Contact us for help with tracking activity within your office.

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