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ACH Settlement

4 min. readlast update: 10.26.2024

The ACH Settlement interface in Braid allows users to manage the processing of ACH transactions. This guide provides step-by-step instructions to help users navigate the UI, manage ACH files, and ensure the accurate settlement of transaction batches.

Accessing the ACH Settlement UI

  1. Log in to the Braid platform with your credentials.
  2. From the dashboard, select the Settlement icon on the sidebar menu.
  3. Choose the Settlement tab to view and manage ACH transaction files.

Understanding the Settlement Table

The Settlement table displays all extracted NACHA files, along with essential details about the transactions they contain. Here’s a breakdown of each column:

File Name

  • Displays the filename of each NACHA file, indicating a batch of ACH transactions.
  • Example: nacha_712_721160232_0610…
  • Action: Clicking on the filename redirects you to detailed file information.

Extracted At

  • Shows the exact date and time when the NACHA file was generated or extracted from the Braid platform.
  • Purpose: Helps users keep track of when batches were created for auditing purposes.

Product Name

  • Indicates the product or service associated with each NACHA file.
  • Examples:
    • SDF Employer Gateway: Represents a specific employer payroll service.
    • apptech sandbox: May indicate test transactions from a fintech partner.
  • Action: Clicking the product name opens a summary of product-specific transactions.

Instruction Count

  • The total number of individual instructions within the NACHA file, representing the total number of ACH transactions.
  • Purpose: Provides a quick count of how many transactions are included in the batch.

Debit/Credit Amounts and Counts

  • Debit Amount: The total dollar amount of all debit transactions in the batch.
  • Credit Amount: The total dollar amount of all credit transactions in the batch.
  • Debit Count: Number of debit transactions in the batch.
  • Credit Count: Number of credit transactions in the batch.
  • Purpose: Offers visibility into the type and volume of transactions processed.

Managing ACH Files

Sending Files to SFTP

  • To send a NACHA file to an SFTP server for processing:
    1. Locate the file you want to send in the Settlement table.
    2. Click the "Send to SFTP" button in the respective row.
    3. Once the file is successfully sent, the status will change to "Sent."
    4. Note: SFTP controls in this UI apply only if the bank utilizes Fedline Advantage. If Fedline Command or Fedline Direct is used, automation will handle the transmission.

Approval Process

  • Files with the status set to "Approve" require manual approval before transmission.
    1. Review the file details by clicking on the filename or product name.
    2. If the transaction details are correct, click "Approve" to change the file’s status to ready for SFTP transmission.
    3. If there are discrepancies, review the underlying transactions and make necessary corrections before approval.

Downloading ACH Files

  • To download a NACHA file:
    1. Click the cloud icon in the ACH File column corresponding to the desired NACHA file.
    2. This will initiate a download of the file to your local device.
    3. Purpose: Allows for detailed review or archiving of transaction batches.

Connectivity Models

Braid supports three different connectivity models for ACH processing, each offering varying levels of automation:

  1. Fedline Advantage:

    • Purpose: Offers manual SFTP controls within the ACH Settlement UI for file transmission.
    • Usage: The SFTP controls in this UI are functional only with Fedline Advantage, allowing banks to manage file sending manually.

  2. Fedline Command:

    • Purpose: Provides automated ACH file transmission.
    • Usage: When this model is in place, file handling and transmission are automated, reducing the need for manual SFTP management.

  3. Fedline Direct (coming soon):

    • Purpose: Enables direct and fully automated ACH file processing.
    • Usage: This model will offer even greater automation, directly integrating with the Federal Reserve’s system.

Troubleshooting

  • If a file fails to send to SFTP, an error message will be displayed. Check your network connection and SFTP credentials before retrying.
  • If there is an issue with a NACHA file (e.g., incorrect transaction details), download the file, review it, and correct the errors before attempting approval or transmission.
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