Friday Feature - ACH Sequencing

I am part of the sandwich generation, which means that I have to watch my money closely and manage numerous bank accounts. I am not alone. I am sure that you have several employees who want to deposit their pay in several accounts, specifying the importance of each account. That is what the Sequencing field in the ACH record is all about. Let's look at a LIVE example of an employee with four accounts.

ACH sequence

ACH sequence

Escape Online uses the sequences to prioritize the deposits. Sequence 6 is deposited first, then sequence 7, then sequence 8 and finally sequence 9, which is set to 100%, meaning that whatever is leftover gets deposited into that account. (The pay technician that set this up started with sequence 6, leaving room for additional sequences.)

If the employee's regular pay is $3,550.00, Escape Online is going to follow the sequence like this:

  • $100.00 to the sequence 6 account.

  • $50.00 to the sequence 7 account.

  • $3,000.00 to the sequence 8 account.

  • $400.00 (100% of the remainder) to the sequence 9 account.

That seems perfect, but what if the employee does not receive enough pay for all of the sequences, like on a retro or for additional pay on a supplemental pay cycle? Escape Online is going to continue to honor these sequences. (For the sake of this example, let's say the Primary Pay Cycle Only flag is set to NO for all sequences.)

If the employee's supplemental pay is $356.41, Escape Online is going to follow the sequence like this:

  • $100.00 to the sequence 6 account.

  • $50.00 to the sequence 7 account.

  • $206.41 to the sequence 8 account.

  • $0.00 to the sequence 9 account.

I like it! And, so does this employee, as you can tell.

Seriously. Look at the ACH tab label. It has a 78 next to it. That means that over the course of this employee's 46-year career with this district, they have had 78 updates to their ACH deposit records.

Now that is a dedicated money manager with Escape Online doing its part to help along the way!