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General Accounting Division>Vendors>Frequently Asked Questions>Electronic Funds Transfer FAQ>15

FAQ: Electronic Funds Transfer (EFT)

Can credit memos still be processed by an invoiced state agency and appear on the netted EFT deposit?

Yes. Credit memos will be netted in the bank deposit amount.
 
Frequently Asked Questions
  Vendors FAQ
  Backup Withholding FAQ
  Electronic Funds Transfer FAQ
1 - What is EFT?
2 - Will I receive notice from the State Comptroller's Office if any of my payment requests have been offset for tax liabilities owed the State?
3 - What is ACH?
4 - Are there any costs associated with ACH?
5 - At what level of detail will deposits show on my bank statement?
6 - Can I tell from the bank statement which state agency is paying me and which of my invoices are being paid?
7 - My company has only one TIN; however, it requires separate bank accounts for each accounts receivable (billing) location. Can I participate in the EFT program and request more than one bank account to receive the state disbursement?
8 - Why is a TIN important?
9 - Can I make changes or later decide I don't want to continue with EFT?
10 - How long does it take to start receiving EFT payments from the state?
11 - If I am missing an EFT deposit, what should I do?
12 - If I receive an incorrect EFT deposit what should I do?
13 - If I receive another company's EFT deposit, what should I do?
14 - When can I reasonably expect to receive an EFT deposit once I have billed a state agency?
15 - Can credit memos still be processed by an invoiced state agency and appear on the netted EFT deposit?
16 - Can I specify an ACH format, to be used to transmit the state's payment information to my bank?
17 - Can I specify the actual format of information (invoice number, amount, etc.) to be included in the ACH addendum record?
 
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