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      How To Configure a Bank Account to enable 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). You also have the choice to download a test NACHA file, which you can then provide to your bank if desired.

      What is the NACHA File Format? A NACHA file is an electronic set of instructions that triggers a batch of ACH payments when uploaded into a bank portal. The file must be formatted in such a way that the scanner reads it properly and initiates payment.


      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
      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)
      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 information 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

      Generate Balanced File - On or Off.

      If you receive a 200, 220, or 225 service code error from your bank when it tries to process the NACHA file, it may be because the Generate Balance File toggle may not be set correctly.

        • If turned ON, a balanced file is a file that does carry the offset (settlement) account within the file. Tis generates the file with a service code of 200.
        • 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. This generates the file with a service code of 220 or 225.
      File Type - Standard or Chase (JP Morgan).  For most banks select Standard.  However if you are using Chase bank select Chase (JP Morgan).
      Origin Name - Typically your business name
      Origin Number - Typically your business Tax ID
      Destination Name - Typically the bank's name
      Destination Number - Typically the bank's routing number
      Company Identification - Typically your business Tax ID
      Company Name - Typically your business name
      ODFI ID - Typically the bank's Tax ID or routing number

      *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

       

      Download a Test NACHA File

      Once you have configured the NACHA settings a button will appear that lets you download a test NACHA file that can be provided to your bank.
       
      • On the same Bank Account Details page, Click on the "Download Test NACHA File" button