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SpeedCheck

Balance and Deposit Check Batches

This task provides a step-by-step guide for balancing check batches in SpeedCheck, ensuring the total amount of scanned checks matches the expected batch total and contributions are correctly distributed to funds.

  • You must have the correct security rights in the software.

Balancing each check batch ensures the total amount of the scanned checks matches your expected batch total. When balancing checks, you can distribute your contributions to the appropriate funds and even split your contributions into separate funds. All funds set up in Contributions are available in SpeedCheck.

  1. Under Manage Records, click the Contributions tab.
  2. Select Enter/Post Contributions from the drop-down list and click Go .
  3. Click Import Transactions.
    The Import Contributions window displays.
  4. Click ACS SpeedCheck.
    The Select Action dialog box displays.
  5. Click Balance/Deposit Checks.
    The ACS SpeedCheck window displays.
  6. Click the drop-down list and select a batch.
    1. Enter the Expected Total. This is the total after manually adding the check amounts in the batch.
    2. Select the default fund for the batch. If most of your transactions in a batch are allocated to a specific fund, then select it as your default fund, you must select a default fund for each batch, but you can change the fund information on checks that are split between different funds.
    3. Under Batch Details, click on a check to view the check's image.
    4. Verify the check amount and check number for each check. You can change them if necessary.
    5. If you want to split a check with another fund, make your selections in the Distribution field, enter the dollar amount to distribute to the other fund.
  7. To view checks for which the MICR line needs correction, select the Show Unbalanced Only check box.
Now that check batches are balanced, you can review for MICR Line Errors or Invalid Checks.

MICR Line Errors or Invalid Check Amounts

This task provides steps to identify and correct MICR line errors or invalid check amounts when a red question mark appears beside a transaction.

If a red question mark displays beside a transaction, the check amount is not balanced or the MICR line is unclear. To see what's wrong with the check, place your cursor over the transaction, then follow the steps below to fix a bad MICR line.

  1. To fix a MICR line, in the Balance window, double-click on a transaction with a red question mark beside it.
  2. When the image of the check displays, click on the image to verify the information in the routing #, account, and check number fields. If applicable, enter the correct information from the check.
  3. Click Save, then Close to return to the Balance window.
After you balance your check batches, you can review them.

Review and Approve Check Batches

This task outlines the process for reviewing and approving check batches to ensure accuracy and compliance with financial regulations.

You must review and approve the check batches before importing them into Contributions. Reviewing and approving a batch ensures that you've distributed each check to the proper funds for the correct amounts and that the batch is ready for deposit.

  1. Balance each transaction in the batch.
    After you've balanced each transaction batch, the word "Balanced" displays under Batch Totals.
  2. Click Review.
  3. Compare this information in the grid with your expected total. The grid displays the batch number, company name, and account number, check number, envelope number (if applicable), contributor fund, check amount, and distribution amount.
  4. To print the grid, click Printer Friendly Version > Print.
  5. If you find an error when reviewing the transactions, click Balance to correct it or to split a transaction between funds.
  6. Once the batch's totals are approved, check amount errors cannot be corrected within the batch; the batch must be deleted and checks re-scanned. Post-import, checks can be split between funds or money reallocated in contributions. To do this:
    1. Click the Approve tab.
    2. Compare this grid's information with your expected total. If you want to print the grid, click and then Printer Friendly Version > Print.
    3. Again, if you find an error when reviewing the transactions, click Balance to correct a transaction's funds and amounts or to split a transaction between funds.
    4. When all transactions match the expected totals, click Approve.

Deposit Check Batches

This task provides instructions for depositing check batches electronically using the Remote Deposit feature, including reviewing, approving, and depositing checks to ensure funds are available within two business days.

  • Review and approve check batches.

If you use the remote deposit feature, you can electronically deposit your batches of checks after reviewing and approving them. If you're not using the remote deposit feature, you still must select Deposit so that the correct files are created to import the checks into Contributions.

Your bank account information is on file, so you won't need to enter it each time you deposit. After depositing checks, 100% of your funds will be available in two business days.

  1. Click the Deposit tab.
  2. Compare the information in the grid to the expected total. You can also click Printer Friendly Version to display and print the grid for your records.
  3. Click the Deposit button. When you click Deposit, the batch is submitted for deposit at the end of the day.
After you deposit the checks, you're ready to match the checks to transaction records.
ACS
People Suite
Administrator

Last updated: July 16, 2024

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