Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Can you explain the timing of the posting of the journals created from the BudgetNet interface?

April 26, 2017explain interface Journals posting timing

0

Posted

Can you explain the timing of the posting of the journals created from the BudgetNet interface?

1 Answer

0

Posted

Initially, there will be a one-day lag from when the commitment control ledger is updated versus the general ledger – see example below. As soon as possible we will be updating this process so that both commitment control and the general ledger are updated the same day. Q. Banking & Finance has identified a problem on the ACH file when processing fees from their customer’s account. A. Currently, Bank of America sends over ACH file in which the transaction is shown as two amounts. Agencies can not reconcile two transactions on the bank side to one on the book side. Bank of America is currently researching this issue. We are currently working with the bank to change this process. Q. OTFS stated the changes Streamlined Banking agencies need to make regarding surplus payments. A. Streamlined Banking agencies should remit their surplus payments to OTFS via EFT/ACH in PeopleSoft. They should use vendor # 0000377564. OTFS has set up this vendor for EFT/ACH payments as a Non Interunit Vendor.