Set up Automated Payment Configuration in the system

CL Loan versions 1.2002 and later enable you to define multiple payment modes for creating payments for different business events. You can define configurations that store the parameters for receiving and making payments with each of these payment modes, and specify the custom filegen class that defines the processing logic for these transactions.

Each configuration addresses a unique combination of the payment mode and the business event.

You can also configure the actions to be taken for each return code in case a payment is returned by the bank.

Prerequisites

The following is the prerequisite to create automated payment configuration:

• Payment modes are defined.

Steps

Perform the following steps to create an automated payment configuration:

1. Log in to your Salesforce account.

2. Go to Servicing Configuration > ACH... > Automated Payment Configuration.

3. On the page that appears, in the Define a New Automated Payment Configuration section, select Define New Automated Payment Configuration.

4. In the New Automated Payment Configuration window, provide the details as explained in the following table, and then select Save:

   Note:You can refer to the image following this table as an example.

   Field	Action and Information
   Information section
   Filegen Class	Enter the filegen class that is the name of custom class for configuration. To use the Automated Consolidated Payment functionality, enter loan.LoanConsolidatedPaymentNACHAGen.
   Active	Select this checkbox to indicate whether the configuration is active or not.
   Payment Mode	Enter or select the lookup to provide the mode in which payment is to be made. For example, you can specify Cash, ACH, Check, or any other payment mode you have set up.
   Folder Name	Specify the folder name where the files generated through this configuration are stored.
   Bank Account	Specify the bank account, which is the organization level bank account to be associated with the configuration.
   Event	Select the event from the Available column and click on the right arrow to move it to the Chosen column. Multiple events can be selected for a particular configuration, which means the same configuration can be used for various events.
   File Type	Select the file type to be generated. The file types supported are TEXT, CSV, XML, and JSON.
   NACHA Details section	Provide the complete NACHA details required for ACH file generation according to NACHA standards.
   RCC Details section	Specify the RCC (remote check capture) details for generating files in RCC payment mode. RCC file creation date and the date in the RCC file must be same, else, there will be a delay of one day in generation of RCC files.  Currently, the loan Payment is the only event supported for RCC.
   Retry Details Section	Note:For setting up of consolidated retry configuration for the Automated Consolidated Payment functionality of the April 2024 release, skip this Retry Details section and refer to the Step 2: Configure Consolidate Retry Configuration of the Configure Automated Consolidated Payments section of this guide.
   Retry	To retry a rejected ACH payment, select Enabled from the Retry drop-down menu. If no value is selected in the Retry field, the system assumes the value Disabled and does not retry a failed or rejected payment. This field indicates whether the payment retry option is available for this transaction. A null value defaults to Disabled.
   Return Codes for Retry	Select the return codes for which you want to retry payments. Return codes are customer-specific. For example, RO1 is associated with Non-Sufficient Funds.
   Number of Retry Attempts	Enter the number of times the system must retry the rejected payment.
   Retry Attempt Interval (in days)	Enter the number of days required between two retrial attempts. These are the number of days after a rejection.
   Apply NSF on Attempt	Select the unsuccessful attempt number for which a Non Sufficient Funds fee will be charged. For example, if a transaction is repeatedly rejected by the bank, the lender may charge an NSF fee after the third attempt.