NOTE

You cannot create returns for IAT transactions from GEM or from the screens under Deposits shown above. IAT information is stored for processing IAT returns on transactions that did not reject for any reason. These items will show in GEM as Host Posted with a Primary Reason of IAT. See the Other Conditions field group section in Selection Setup for more information on how to view these items.

NOTE

You cannot return items on FPS GOLD or Federal Reserve holidays.

Type and Action Fields field group

The Type and Action Fields field group on the Create Returns screen is used to enter the type of return you are creating and the action on the account you want to process in regards to this return.

Return Type

Mnemonic: ACH and Check, EIRACH; Loan, EIDBIT

In the Return Type field group, select the type of return you want to create. If you select ACH, you cannot select Check, and vice versa. The remaining fields on this screen will change according to whether you select ACH or Check. If you select ACH, the ACH Type Fields and ACH Return Only Fields field groups are also displayed on the screen.

Checkmark the Loan box if the return is also a loan.

For checks, you must enter the correct Transaction Amount and a valid Check Number corresponding to that Transaction Amount before clicking <Get Data>.

If multiple checks are found matching that account number and check number, a dialog box is displayed that enables you to select the appropriate check from the list.

Action Type

You can select from three possible actions to make on the transaction, as shown below.

These actions are as follows:

Return, Reverse Tran, Fee
This processes a 1770 transaction and a 1750 transaction, descriptor 12, on the account for both ACH and inclearing items on checking accounts. A return notice will be generated for both ACH and inclearing items. The return notices will include the fee charged using the amount in the Act Fee field.

Return, Reverse Tran
This processes a 1770 transaction on the account for both ACH and inclearing items. A return notice will be generated for both ACH and inclearing items.

Return, No Tran
A return notice will be generated for both ACH and inclearing items, but a transaction will not be processed on the account.

Reason

Using the drop-down menu, enter the reason for the returned item. One of more than 50 possible reasons can be given. If one of the reasons for the returned item is not listed, you can type your own reason in the Override field. This reason will be printed on the return notices.

Override

Mnemonic: EIORSN

If the reason for the returned item is not included in the Reason drop-down list, you can type your own reason in this field.

Return Code

Mnemonic: EIARET

Use this field to enter an ACH return code. The ACH return codes provide a reason why the item is being returned. Click the list icon and select from one of the return codes in the pop-up list.

Effective Date

Mnemonic: EIEFDT

This field displays today's date, which is the date this return is created and processed against the account.

Account Number

Mnemonic: EIACTO, EIACTA, EICKDG

Enter the account number where the funds or check payment was deposited into and where the return will be processed against. This is a required field and must contain a valid account number.

Account Type

Mnemonic: EIATYP

This field indicates the type of account the return is intended for. Valid entries are "S - Savings Account" and "K - Checking Account." This information is used to determine the correct ACH tran code when sending the return. If this field is left blank, it defaults to "K."

Transaction

Mnemonic: EITCOD

Use this field to select the specific transaction code that needs to be reversed from the account. This should match the original transaction that was made when the check or funds were deposited or withdrawn from the account.

Possible choices are the following:

1120 00 - Deposit

1130 00 - Withdrawal

TORC

Mnemonic: EITORC

This is a 4-digit field that designates the transaction origination code, or TORC, that was used in processing the original transaction.

Fee Descriptor

Mnemonic: EIFDSC

This is the descriptor fee, as set up in the Return Fee Descriptor field on the Deposits - Descriptors and Fees tab of the GOLD Services > Institution Options screen, GOLDException Manager tab.

Description

Mnemonic: EITDSC

This is an optional field used for the description of the transaction. It will be printed on the customer's statement. For check return types, this field only displays Withdrawal.

Transaction Amount

Mnemonic: EITAMT

This required field is used to enter the amount of the transaction.

Est/Act Fee

Mnemonic: EIEFEE, EIAFEE

The Est/Fee field is the defaulted amount of the fee that has been set up by your institution for returned items on the GOLD Services > Institution Options screen, GOLD ExceptionManager tab,Deposits - Descriptors and Fees tab. This field is not file maintainable, but you can change the actual fee charged on each exception item manually in the field next to this one (Act Fee field).

The data in the Act Fee field is entered by the system when an item is returned with a fee. Though this field is pre-filled by the system, you can change it.

Check Number

Mnemonic: EICKNB

This field requires the check number, if any, of the check item being returned. If more than one check number exists for this account after you click <OK> or <Get Data>, a dialog box will display with a list of those check numbers. You can select the correct check number from this list.

See also:

Return Type

Trace Number

Mnemonic: EIACH7 or EIACH8

This field is required for all returns. It should contain the 15-digit trace number of the original ACH or inclearing item that is being returned.

ACH Type Fields field group

The ACH Type Fields field group on the Create Returns screen is only displayed after you select the ACH Return Type. The ACH Return Only Fields field group is also displayed, as shown below:

Standard Entry Class

This field is for the standard entry class of the original ACH return you are creating. This field is required. Use the drop-down menu to enter a Standard Entry Class code. The Standard Entry Class (SEC) Codes are used to communicate exactly how the customer gave you authorization to debit/credit their bank account.

See the Standard Entry Class section for detailed information for each of the Standard Entry Class codes.

Dishonored Return

Check this box if this is a dishonored return. If this field is checked, the Dishonored Return Item Information field group is displayed on the screen. The fields in this field group must also be filled in.

Contested Dishonored Return

Check this box if you are creating a contested dishonored return for returns that have been denied by the originator of the transaction. The default is a blank box (no), but check this box if the item being created is a contested dishonored return ACH item. If this field is checked, the Contested Dishonored Return Item Information field group is displayed on the screen. The fields in this field group must also be filled in.

ACH Return Only Fields field group

The ACH Return Only Fields field group on the Create Returns screen is only displayed after you select the ACH Return Type. The ACH Type Fields field group is also displayed (as shown above).

Originator Name

Mnemonic: EIORNM

This field is for use with ACH items when an item is returned. This field should be filled in with the name of the originator of the original ACH item for which the return is being created.

Originator Company ID

Mnemonic: EIOBID

This required field is used for either the customer identification number or the company identification number, depending on whether this account is for an individual or a company. The ID number is required under NACHA rules to ensure there is clear identification of the source of an ACH transaction. Specifically, the rules require the originator to populate this field with the company EIN. This company identification appears on the account holder’s statement and is used to identify the originator should the company name be incorrect or missing.

Original Effective Date

Mnemonic: EIOEDT

This field is for the original effective date for the ACH return.

Date of Death

Mnemonic: EIACH7

This field is only used if the account owner is deceased. Enter the date of death of the account owner, if applicable.

ACH Account Number

Mnemonic: EIACH6

This field is for the account number. This is a required field.

Discretionary Data

Mnemonic: EIACH6

This field enables entry of descriptive data to be sent in the item to the Federal Reserve in the batch header record. This field must be used if the item is being returned. This is for your company's internal use.

Company Discretionary

Mnemonic: EICDSC

This is the company discretionary data that is sometimes sent in the header of an ACH item. You could enter the description of the transaction in this field. This may be printed on the receivers’ bank statement by the receiving financial institution (e.g., payroll).

Dishonored Return Item Information field group

The Dishonored Return Item Information field group on the Create Returns screen is only displayed after you select the ACH Return Type, and then select Dishonored Return or Contested Dishonored Return.

ACH return items will be dishonored by the Government Disbursing Office if discrepancies exist between the data on the return item and the data on the original payment. If your institution receives a dishonored return, the information in the return should be corrected and a new return should be originated in accordance with NACHA Operating Rules. Dishonored returns are sent from the ODFI (Originating Depository Financial Institution) to the RDFI (Receiving Depository Financial Institution).

See the following example of this field group:

Return Item Trace Number

Mnemonic: EIACH6 or EIACH7

This field is used to enter the trace number from the return item.

Return Item Reason Code

Click the list icon and select the return item reason code for why this item is being returned.

Return Item Settlement Date

Mnemonic: EIACH7

This field is used to enter the date on which this return was settled with the Federal Reserve.

Contested Dishonored Return Item Information field group

The Contested Dishonored Return Item Information field group on the Create Returns screen is only displayed after you select the ACH Return Type, and then select Contested Dishonored Return. A contested dishonored return is when a dishonored return is received by your institution, but you are contesting it and sending it back to the Originating Depository Financial Institution (ODFI). You can only use one of six reasons for the contested dishonored return.

See the following example of this field group:

Dishonored Return Item Trace #

Mnemonic: EIACH6 and EIACH7

Use this field to enter the trace number from the dishonored return item.

Dishonored Return Item Settlement Date

Mnemonic: EIACH7

This field is used to enter the date on which this dishonored return was settled with the Federal Reserve.

Dishonored Item Reason Code

Mnemonic: EIACH7

Click the list icon and select the reason for this contested dishonored return.

Original Item Settlement Date

Mnemonic: EIACH7

This field displays the original item settlement date on which the return item was settled with the Federal Reserve.

Date Original Entry Returned

Mnemonic: EIACH7

This field displays the date the original return item was returned.

NOTE

From these two tabs, you can only process ACH returns, not checks or loans.