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How does ACH setup and reimbursement work?

lshermanlsherman Expensify Customer Posts: 3 Expensify Newcomer
edited February 2019 in Advanced Admin Controls

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?

Best Answer

  • Sheena TrepanierSheena Trepanier Expensify Success Coach - Admin Posts: 1,313 Expensify Team
    Accepted Answer

    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.

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