How does ACH setup and reimbursement work?

lsherman

I am working with JPMorgan on setting up ACH. With that said, it is unclear as to how the ACH transactions will be initiated. Will Expensify debit our account OR do you have an implementation department that works with banks to get a direct link to the account?

Sheena Trepanier

Hello @isherman, great question! I'm happy to tell you a bit more about how ACH reimbursement works in Expensify. For the explanation below, let's assume the report in the example has gone through the approval workflow and is in the Approved state.

Expensify ACH process:

Pre-requisites:

• Admin with Withdrawal account setup and validated
• Employee with Deposit account setup
• Report in the Approved state

When the admin reimburses a report in Expensify using ACH:
1. Expensify withdraws the corresponding amount from the company withdrawal account on file in the admin's account,
2. An automated process captures all ACH reimbursements for the day (assuming it's not a holiday) into a single file and delivers to Bancorp Bank via SFTP.
3. In the case of Next Day Reimbursement, which applies to reports of $100 or less, the employee should expect reimbursement in a single business day.
4. In the case of reports greater than $100, employee's should expect the normal 4-5 business day processing times for reimbursement.
5. The withdrawal account will show a posted debit that names Expensify and lists the report ID the reimbursement is for. Admins can quickly navigate between reports using reports IDs and the keyboard shortcut shift+G.

lsherman

So is there any set up with the bank that I need to do. How do I know the set up will work?

tylerzoll

@lsherman, The good thing about Expensify reimbursement is that you don't really have to do anything with your bank at all. The only thing is that if you have ACH positive pay or an ACH block set up, you may have to modify or remove the block.

lsherman

Okay, so we do have ACH block, I will need the allowable id that will be sent so I can make sure it is set up okay.

tylerzoll

@lsherman, Unfortunately, I'm not exactly sure how that works with your bank or what the allowable ID would be. I don't use this feature any more since we reimburse through our accounting software now. I did look back at an old bank statement when we did use this feature and this is how it came through on the bank statement:

Tyler J Zollinge Expens Report 6271742 REF # 015035001051966 1112561829
Joel M Benson Expensify Report 6426225 REF # 015040003337247 1110655979

It seems that every report has different numbers, but the report ID was actually on the bank statement. Things may have changed, but it seems that if you could get them to allow anything that includes Expens Report, then you would be fine.

If I remember correctly, I tested it with a $1.00 expense report to myself just so I knew how it all worked.

Sheena Trepanier

Hi @lsherman, I've just sent you our Company ID via private message. This ID is most likely what your bank will request to identify Expensify. I hope this helps!

jeffwolf

Can someone send me a PM with the Company ID as I need to setup ACH Authorization at my bank to allow Expensify to ACH Debit. thanks!

Sheena Trepanier

@jeffwolf - just did, hope it helps!

EAdler

Hello:

Can I also get the Company ID? We also have ACH Filters and need this to whitelist Expensify

Sdeleon_Tejon20

Looking for Company ID, I am in the process of setting this up also.

Karisa Latta

Hey @EAdler and @Sdeleon_Tejon20 I just PMed you both.

The best way to get sensitive information like this in the future is to reach out to [email protected] or use our in-app chat feature.

I hope this helps! Please let me know if you have more questions.

dbierman

Looking for the Company ID, we also have ACH filters and need this information.

John Schuster

Hey there, @dbierman! I've just PM'ed you!