Defining ACH parameters
ACH Parameters help you configure one time and recurring ACH payments, and how these are processed for loan contracts. The parameters provide you the option to override the default filegen classes for retrieving and processing different types of transactions, with custom classes as per your business requirements.
Prerequisites
None.
Steps
Perform the following steps to manage the custom settings for fractionalization:
Log in to your Salesforce account.
Click your Username.
Click Setup.
Click Build, Develop, Custom Settings.
Go to ACH Parameters.
Click Manage.
The ACH Parameters page is displayed.
Click Edit to define the ACH parameters.
Update the parameters, as required. Refer to the Field Reference section below for details of each field.
Click Save.
Field reference
Field Name | Description |
|---|---|
ACH File Type | The ACH file format. This can be Text, CSV, JSON, or XML. |
ACH ID | The ID to identify the ACH file for internal accounting purposes. |
ACH Return Filegen | The custom filegen class used to parse ACH Returns. |
| Broker Transaction Filegen | The custom filegen class used to generate broker transactions. |
Days In Advance To Create a New File | The number of business days before the due date of a given loan payment, for inclusion in the NACHA file. |
Debit Loan Payment on Previous Working Day | If this is selected, the ACH job picks all the payments which are to be debited, one business day prior to the payment due date. For example, if a payment falls on a Sunday, the job includes this payment in the NACHA file generated on Friday. |
Fed Tax ID | Identifies the business entity in the US for tax purposes. This is a nine digit number. |
| Fee Payment Transaction Filegen | The custom filegen class used to generate fee payment transactions internally between lender's trust accounts. |
Folder Name | This is used to store the generated NACHA file. If this folder name is not provides, user can see the NACHA files in the Documents tab in CL Loan. |
| Immediate Destination | |
| Investor Deposit Transaction Filegen | The custom filegen class for generating the banking file for investor deposits. |
| Investor Payment Transaction Filegen | The custom filegen class for generating the banking file for investor payments. |
| Investor Withdrawal Transaction Filegen | The custom filegen class for generating the banking file for investor withdrawals. |
| Loan Disbursal Transaction Filegen | The custom filegen class for generating the banking file for loan disbursals. |
| Loan Payment Transaction Filegen | The custom filegen class for generating the banking file for loan payments. |
| Loan Payment Transaction Creation Batch Size | The number of contracts that can be processed in a single batch by the loan payment transaction creation job. |
| Lock Period for Investor Funds | The number of days that must pass after the creation of the investor fund transaction before the transaction is cleared. |
Lock Period for Loan Payments | The number of business days that must pass before a loan payment transaction can be cleared in the system. This period usually allows for the transaction to be processed by the authorized bank, and a status of cleared, or rejected, to be received. |
| Merge One Time and Recurring ACH | If selected, it allows a One Time and Recurring ACH transaction for a loan contract to be processed on the same date. |
| Multiple Payment Method Support | If selected, it enables the system to include the different jobs for processing payments with multiple payment modes in the Start of Day Job chaining. This method uses the payment setup defined using the Setup Automated Payment button in the loan contract instead of the individual setups done using the One Time ACH and Recurring ACH buttons. Payment configuration, such as NACHA file details, filegen class, file formats and bank account details, for each payment mode and event must be set up using the Automated Payment Configuration option in Servicing Configuration to be able to use this feature. |
| Organization Name | The name of your (lender's) organization. |
| Originating DFI Identification | If you are using NACHA format, this is received from DFI. |
| Query For Investor Fund Clearing | The name of the class that implements the custom query to retrieve investor fund transactions for clearing. |
| Query For Loan Payment Clearing | The name of the class that implements the custom query to retrieve loan payment transactions for clearing. |
| Trace Number Prefix | If you are using NACHA format, this is received from your bank. |
| Use Lock Based ACH | If this is selected, loans payments are created automatically in an uncleared status. After the lock period is over, uncleared transactions are automatically cleared by the system. Note: If you select the Use Lock Based ACH and Multiple Payment Method Support checkboxes, then the Multiple Payment Method Support gets the priority. |
| Disbursement Schedule Reversal Filegen | The custom filegen class for generating a file for disbursal transaction reversals. |
Loan Cancellation Payment Filegen | The custom filegen class for generating a file for payments received due to loan cancellation. |
ACH job creates the NACHA file and creates the payment under Payment in an uncleared status (this will have no impact on CL Contract balances).
LoanPaymentTxnClearingJob checks for ACH Parameters Custom Setting
CustomSettingsUtil.getACHParameters().Lock_Period_for_Loan_Payments__c decides the number of days after which the payment will be cleared.
For example, if the payment is created for this day, and Lock_Period_for_Loan_Payments__c is 0, this payment will be cleared today.