You're almost there! Please answer a few more questions for access to the Applications content. Complete registration
Interested in joining? Complete your registration by providing Areas of Interest here. Register

Escheatment Process in 24C Upgrade

edited Sep 20, 2024 9:21PM in Payables, Payments & Cash Management 1 comment

Summary: We are excited to take advantage of this feature but very soon realized that it needs to be matured more to be utilized. Given below are our pain points please review and kindly suggest.

  1. There is only one place where we define the Min. Num of days (in the Payment Options) for the system to consider a payment to be escheated and it will be applied to all the payments in that BU that surpassed the date. But, normally each state will have it's own time-lines to consider a payment to be escheated (for ex: in CA it could be 5 years and in PA it could be 3 years after which the uncleared checks need to be escheated to the respective state authority). Considering only a single count of number of days

Howdy, Stranger!

Log In

To view full details, sign in.

Register

Don't have an account? Click here to get started!