Electronic Clearing Account

Question

Hi,&nbsp; Im new to a company and there electronic clearing account is not sitting at zero.&nbsp; Its sitting at a large amount that shouldnt be there.&nbsp; They run batched payments.&nbsp; The entries sitting in the electronic clearing account are made up of payroll and supplier payments. How do we work out why the electronic clearing account is not returning to zero once the ABA file has been made.&nbsp; Has someone changed a setting.&nbsp; Just trying to work out the cause of the electronic clearing account sitting with such a large value and how to fix it and stop it from happening again.&nbsp; Thanks in advance

genreve_s · Answer

Hi homegirl,&nbsp;
&nbsp;
It sounds like those electronic payments haven’t cleared properly, even after the batch was created, which is definitely a bit odd.
A couple of things worth checking first:

Make sure the batch transactions were actually created through Prepare Electronic Payments. If they weren’t, they’d usually need to be deleted and recreated so the transactions clear properly from the Prepare Electronic Payments window.
 If the Electronic Clearing Account is only showing these values in the Reconcile Accounts window, it’s also worth trying a future-dated bank reconciliation to help pick up any duplicate or missing transactions.

If those steps still don’t clear the transactions from the Electronic Clearing Account, I’d recommend contacting our support team so they can take a closer look. You can do that by creating a support ticket through My Account, or by jumping onto live chat through MOCA, our virtual assistant.
&nbsp;
Regards,Genreve&nbsp;

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Electronic Clearing Account

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