This subsystem of the Utility Billing system provides the ability to create account debits to a customer’s bank checking or savings accounts. These electronic fund transfers (EFT) are done when customer bills are normally printed through a bank industry-standard ACH file.
Each customer account to be paid by EFT is tagged with the customer’s bank account number and amount to be charged. All proper account validity and current balances are controlled by the system to properly account for correct customer account numbers and non-sufficient fund (NSF) processing.
Some important system features include: easily maintainable bank draft data; interface to Utility Billing for monthly EFT; interface to Cash Register system for payment of account by EFT; complete updating to General Ledger system for postings; creation of a standard bill for mailing to the customer showing no balance due; full reporting and displaying of a customer’s EFT history; and full control over NSF and pre-note processing.