Positive Pay - Sandler*Kahne Software, Inc.

Pre-Note Status(US-ACH Only) This is the pre-notification status for this account. The optionsare:• New Pre-Note - The bank has not been pre-notified.• Pending Pre-Note - A pre-notification record has been sent to the bank.• Approved Pre-Note - The bank account information has been verified ascorrect and approved. This will also be the setting if you do not RequirePreNotes.If you Require PreNotes, then whenever the Bank Transit #, Bank Account #, orAccount Type is entered for a new company paying account, or a change ismade to a current company paying account, this field is automatically set to"New Pre-Note". When an EFT file is created with this pre-notification recordincluded, and the transmission to the bank is “Kept”, then this field isautomatically set to "Pending Pre-Note". You should then enter an "ApprovedPre-Note" status when the company paying account’s account information hasbeen verified and approved. The system will automatically set the status toApproved when the Approval Date has been reached (even though the recordmay say “Pending”, on or after the approval date the record is considered“Approved”. The actual status will be changed to Approved when “Keeping”the next Create and Send process). Only approved bank account informationwill be used to transmit payment amounts in the EFT file.Note that when Solomon is in “Initialization Mode”, the pre-note status and datecan be manually set to any value. This feature should be used with caution ifpre-notes are required.For an explanation of the pre-notification process and how this field should bemaintained, see Appendix A - Pre-Notification Explained in this manual.Approval Date(US-ACH Only) This is the date after which a pending pre-note becomesapproved. Pre-noted entries require a waiting period of 6 banking days. Whena company paying account is first pre-noted, AP EFT calculates the 6th bankingday after the pre-note entry was sent to the bank. Weekends and dates enteredin Bank Holidays (DD.290.00) are skipped in making this calculation. On the6th day and beyond, a pending pre-note is available for processing, and will beset to approved during the next EFT Create and Send process.The following fields define the Entry Class Descriptions and Company IDs thatwill be used in the EFT file. These descriptions are what will appear on yourvendor’s statements for all checks written against this paying account. TheCompany Ids are used in the Batch Header records. These Company Ids defaultfrom the entry in AP EFT Setup (DD.950.00), but may be overridden here.A/P Electronic Funds Transfer w/ Positive Pay Reference – AP EFT • 23