TOPIC: Accounting

Opening bancontrol accounts with DocuSign signature card

AVP at a bank ($5.5BUSA)
We are considering implementing a process to open and supersede bancontrol signature cards by DocuSign instead of having our bank officers sign with a wet signature.  We are looking to streamline this process, since their are multiple bank officer's signing on these accounts and these need to be superseded as officers are added or removed.  Are any of you currently using DocuSign for your bancontrol account signature cards?   If you are, it would be greatly appreciated if you can share your process on how you handle this?  .  Thank you! 

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      General Ledger Reconciliation: Member Over Payments

      Employee at a credit_union ($598MUSA)
      Asking as a non-accountant so any help would be greatly appreciated.

      How do other FI's handle small member over payments related to loan payoffs or other loan-related transactions? Specifically, when there is a small over payment of say $0.01 or $2 do you send that to the member or is there an accounting rule or industry regulation allowing a de minimis exception to allow the FI to put that small dollar amount into the GL? 

      The issue is when this is a recurring event, and there are many members in the situation, the research and mailing costs add up. Obviously, if the dollar amount is significant the amount must be returned. But what about these tiny over payments? Whether it is one penny or $100 the money belongs to the member but is there something in the accounting rules or regs that allow for a de minimis over payment to go into a GL. 

      The goal is to find a workable solution with limited staff and hours available for the research and processing of these small over payments. 

      Thanks in advance and please let me know if I may clarify. 

        Wire Transfer Rejections/QC

        VP at a credit_union ($953MUSA)
        Hello all -
        I understand that Wires are governed by UCC and each state may be different than the next, but I am looking to gather some general best practices for rejecting or accepting wires.  Specifically speaking, if you receive a wire, and the name and account number match, but the address is incorrect (not even remotely close) do you still post the wire?  We have some come without addresses or some typos, that's not what I am questioning here.  I was just wondering what your QC procedures were for posting wires.


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                ML Module

                VP at a bank ($712MUSA)
                Does anyone currently use the ML Module in Horizon?  It is new to us and I would like to know how you handle balancing on loans sold in the secondary market.  We are currently out of balance until all funds are received from both the borrower and purchaser which means that we are monitoring LOTS of entries.

                  Earnings Credit/ECR

                  SVP at a bank ($96.1BUSA)
                  Reaching out for guidance on using Earnings Credit (ECR) for covering third-party vendor services - do people use bulk contracting and invoice the underlying clients or simply rebate/refund a client's bill on agreed services.   Examples being accounting software, CPA prep, or payroll...     Also on payroll, anyone had success including the HR benefits add-ons for ECR (as all the payroll companies now sell HR services too).   Thanks !

                    Letter of Indemnification Response

                    Manager at a credit_union ($174MUSA)
                    Does anyone have a respondent form-letter to answer an indemnification request for the reclamation of funds, that they would be willing to share with me?

                    For example, our member accepts a check for the sale of personal items and deposits said check with our institution. Three weeks later, we receive a request from the FI the check was drawn on, to return those funds, because the check was written from a stolen book of checks. 

                    I’m looking for a response letter that would courteously decline or offer partial remittance to the other FI, in the event that our member lacked sufficient funds to comply with the request, without divulging any sensitive information.