NACHA Files, Positive Pay File

NACHA Files, Positive Pay File (USA Firms Only) 

Steps to Set-up Positive Pay File, NACHA File (USA Firms Only). 

Positive Pay File:  send the bank an electronic list of all checks that have been issued or voided in Soluno.  

This is so that the Bank can verify a payment transaction. 

note***Basic definition from the web at the end of this document. 

BANK ADMIN -> NACHA tab. 

Summary: 

1. Fill out the detailed information of the Bank Account being used; 

2. Optional:  create a report that will detail Bank activity with a list of the check numbers; 

3. Contact the Bank and get the file format for a Positive Pay File Connection to the Bank; 

4. Contact Soluno Support asking for the electronic connection to be made available - supply the Firm name and Bank Account details; 

5. Soluno Support will contact Development with the Name of the Firm and the Bank Account being used, as well as the bank's requested format; 

6. Process the NACHA File. 

------------------------------------------------------------------------------ 

1. Bank Account Details 

ADMIN -> FIRM -> BANK ACCOUNTS tab 

Edit the Bank Account (in the example below it is the Operating Account 1). 

Update the "Account Information" Section. 

Branch Name, Branch, Institution Number, Transit, Account Number, Name on Account. 

The Bank account name and address can be sent by email to Support. 

Press the "Save" button. 

2.  Optional:  Create a customized Report of the Operating Bank Journal that will show the Check Activity for the Account.   

This information will be uploaded from Soluno to the Bank.  This report will show the Firm what Files have been uploaded for a set period. 

3.  Contact the bank asking for a file format for Nacha.  

Soluno will need the bank to supply that information in order to create the Nacha Template.  

Forward the file format information to Soluno Support. 

Example of correspondence to bank:  Do we have a format for a Positive Pay File?  I would like our Software to upload a file to the bank.  Please provide the format.  Thank you. 

Example of Bank Response:  Kindly see below for our file format requirements. You can also refer to the attached mock file.  

Send this file format information to Soluno Support. 

note***See an Example of a file format at the end of this document. 

4.  Send the Information from the bank by E-Mail to "Support@soluno.legal", along with the Firm Name and Bank Account (example:  Trust Account 01, Operating Account 01, Operating Account 02, Operating Account 03). 

5.  Soluno Developers will update the "NACHA Template" area of the Bank Account with code according to the format requested by the Bank.  

6.  To process the file go to BANK ADMIN -> NACHA tab.   

There will now be a list of bank accounts that have been setup for electronic processing. 

Put a checkmark at the very top left corner to select all files / bank accounts to process or simply put a checkmark beside one of the accounts. 

Put in the "Date" information at the bottom (outlined in yellow).   

Press the "Process" button at the bottom left. 

Notes*** 

NACHA Definition from the Internet: 

Nacha is the steward of the electronic system that connects all U.S. bank accounts and facilitates the movement of money among them. According to the organization, $73 trillion moved through its Automated Clearing House (ACH) Network in 2021. 

Previously known as the National Automated Clearinghouse Association, Nacha is a non-profit association that is funded by the financial institutions that use its network. 

Nacha and the Interactive Financial eXchange (IFX) Forum merged in 2018, an international industry association that develops specifications for financial data systems. 

Example of Bank File format Structure: