How To Configure a Bank Account for NACHA Payments

This article will walk you through the process of setting up a bank account so you are able to pay owners or vendors via NACHA File (ACH)

  1. Click on Accounting on the left side of your screen
  2. Click on Banking from the drop down
  3. You should now see your bank account(s) listed. Click on the bank account for which you want to enable NACHA 
  4. In the middle section for Bank Account Information, there will be a field for Is Nacha Enabled. If it states 'No', you will want to click Edit to the right
    Screen Shot 2021-09-30 at 12.20.28 PM
  5. After clicking Edit, an Update Account Information pop-up will show with your current bank account information. Look for the Is Nacha Enabled toggle and toggle it on (blue)
  6. You will notice the Nacha Details section populates and it looks like the image below. It is highly recommended that you reach out to your bank to get this information. Once you have the info from your bank, enter it into each of their respective fields, and click the green Save button at the bottom. Your bank account within Rentvine is now enabled to start paying vendors and owners via NACHA file
    Screen Shot 2021-09-30 at 11.54.40 AM
*Below is what the fields could look like, but it is recommended that your bank confirms this so that money is sent to the right places. Your bank might give you different definitions or information/numbers for these fields
 
Generate Balanced File - On or Off.
  • If turned on, a balanced file is a file that does carry the offset (settlement) account within the file.
  • If turned off, an unbalanced file is a file that does not carry the offset (settlement) account within the file. The offset (settlement) account is managed by the ODFI.
Origin Name - Possibly your business name
Origin Number - Possibly your Tax ID
Destination Name - Possibly your bank's name
Destination Number - Possibly your bank's Tax ID
Company Identification - Possibly your Tax ID
Company Name - Possibly your business name
ODFI ID - Possibly your bank Tax ID