Escheatment Process in 24C Upgrade
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.
- 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
Tagged:
0