Forth Pay Processing Times

This article was developed to list the times at which certain transactions are currently processed within the Forth CRM. This article is broken down into two sections:

• Processing Times
• Processing Item Type Definitions

Processing Times

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Processing Item Type Definitions

First Debit Return Batch: Client debits that began processing the previous business day and were returned are updated on the client's page with an ACH Return Code.

Clear ACH Debits: Client debits that began processing the previous business day are cleared.

Daily Decisions Imported: Settlements team logs onto bank and pulls down daily EDI files for ACH Debits and uploads to Forth CRM. Transactions are then visible and available to auto/manual match on Decisions Page.

Settlement Checks Shipped: Settlements team submits check and/or check bundles to SmartPayables.

Settlement Low Balance Check: Low Balance transactions are updated to Pending and Approve/Pay where applicable.

Prior Day Payment Cut Off Due: ACH Debit transactions scheduled after this time will be processed the following business day.

Same Day Payment Cut Off Due: ACH Credit transactions scheduled after this time will be processed the following business day.

Debit / Refund Processing: Debi transactions begin processing and updated to Pending. ACH Debit transactions (ACH Debits and Account Transfers) begin processing the "prior" business day from the date they are scheduled in the CRM and are batched for processing. 

VBA Process (Includes Credit Batching): Processes debits, ACH Refunds, and Transfers. ACH Debit transactions (ACH Debits and Account Transfers) begin processing the "prior" business day from the date they are scheduled in the CRM and are batched for processing. 

• Settlement Direct Pay Processing: Direct Pay settlement transactions begin processing and pushed to assigned creditor payee.

• Earned Performance Fees (EPF): Total fees earned for performance, collected for an individual debt. IMPORTANT: there is a thirty (30) day look-back period for processing EPF.

• Credit ACH Fee: Fee associated with ACH Credit use.

Settlement Decisions Due to Bank: Daily settlement ACH Debt/Check By Phone transactions have to be submitted for return/approve pay on the bank's PosPay system.

Settlement Transactions Cleared: Daily settlement ACH Debit/Check By Phone transactions on Decisions Page are reconciled and cleared.

Forth Fees: These are monthly fees, setup fees, transaction debit fees, stop payment fees that Forth collects from the client.

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