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Overview - Returns
This section assumes that you are a bank customer and have submitted transactions which have 'bounced' - or have been otherwise rejected.
If you are a bank and need to create a returns file to send to your clients, please see Banking Edition.
Returns vs. Reversals
A return is an entry that you made - which could not be honored by the other party's bank.
An example:
You attempt to collect funds from a customer, but there are not enough funds in the customer's account. The transaction is returned to you as Insufficient Funds (return code R01).
A reversal is an entry that you create, which is used to correct an earlier erroneous transaction.
An example:
An employee left your company in February, but you neglected to remove the person from the payroll system. In March you erroneously sent that employee a direct deposit payment and immediately noticed the error.
To correct the erroneous payment - you would send a reversal entry to correct it.
What happens to the transaction returned and how are you notified?
If you were paying 100 employees and one employee closed his account, only the payment to the one account will be returned. The other 99 transactions would be fine.
How the bank notifies you depends on the services that your bank offers and what you've signed up for.
Some small banks may call you, others may email, fax you, and others may have you log into their website to see the postings. Many will provide you with an ACH Return file (below)
ACH Universal™ Corporate and Processor editions
The balance of this help file focuses on utilizing ACH Universal™ Corporate and Processor edition's features of importing and resubmitting return transactions from an ACH Return file.
If you do not have the Corporate edition or higher, or you are not receiving an ACH Return file - you will need to track and resubmit transactions manually.
ACH Return Files
The ACH Return file contains all the details of the transaction you originally submitted, as well as detailed information as to why the transaction was unable to be fulfilled.
The return code is noted with a 3 digit code starting with 'R'.
Some sample codes are:
R01 Insufficient Funds
R02 Account closed
This file can be imported directly into ACH Universal™ and be used to track and resubmit transactions - when applicable.