PSA GAAP- Bills: How to enter an ACH or EFT using GAAP Compliance

How to enter an ACH or EFT using GAAP Compliance

If you are using the GAAP Compliance feature, all line items on each bill must have the SAME kind of restriction

This requirement applies when using the Assign Check Number button in the Bill. The assign feature is used to record a handwritten check or an electronic payment. It is also used when a check was printed (and sent) but later deleted to correct a line item. No matter the scenario, a check number may not be assigned to a bill with multiple restricted types when using the GAAP Compliance feature. If you've made a payment to a vendor which includes payments for both unrestricted and restricted purposes, you must enter two separate bills, one for type "with donor restrictions" and another for type "without donor restrictions."  

Beyond the requirement for using only one restriction type per bill, the process for entering ACH or EFT checks is the same as if you were not using GAAP.

Updated

Was this article helpful?

0 out of 0 found this helpful

Have more questions? Submit a request