Returned EFT
-
- New Member
- Posts: 21
- Joined: Sat Oct 15, 2016 5:08 pm
Returned EFT
An EFT was returned and shows up on the dashboard.
After reviewing the returned EFT information, how do I remove this from the dashboard?
After reviewing the returned EFT information, how do I remove this from the dashboard?
- Attachments
-
- returnedeft.png (14.57 KiB) Viewed 1365 times
-
- New Member
- Posts: 2
- Joined: Fri Sep 30, 2022 12:05 pm
Re: Returned EFT
I realize this is a while after the original post, but I had this same issue and thought I would share what happened.
We got an EFT returned because someone closed out the bank account that we could send reimbursements to. So we submitted a similar expense (same person, same amount, same receipts) but in check form. By the time the new expense was bishop approved and cleared, the returned EFT icon was gone.
We got an EFT returned because someone closed out the bank account that we could send reimbursements to. So we submitted a similar expense (same person, same amount, same receipts) but in check form. By the time the new expense was bishop approved and cleared, the returned EFT icon was gone.
-
- Community Administrator
- Posts: 34513
- Joined: Sat Jan 20, 2007 2:53 pm
- Location: U.S.
Re: Returned EFT
The question is where did it go and did the money return?bendougshaw wrote: ↑Fri Sep 30, 2022 12:18 pm By the time the new expense was bishop approved and cleared, the returned EFT icon was gone.
My concern is that it was escheated - turned over to the state as a trustee of the funds and did not come back to the ward.
Have you searched the Help Center? Try doing a Google search and adding "site:churchofjesuschrist.org/help" to the search criteria.
So we can better help you, please edit your Profile to include your general location.
So we can better help you, please edit your Profile to include your general location.
-
- New Member
- Posts: 2
- Joined: Fri Sep 30, 2022 12:05 pm
Re: Returned EFT
For the case I experienced, I could look under finance -> Income and Expense Details and find the transactions associated with the returned EFT's. I could click on each expense detail and see that the "Status" was "Voided," and the EFT Status was "Rejected by Bank (A)." More information about the EFT status was:
"The EFT is reversed automatically after CUBS ingests a rejection file from the bank."
So If your case is similar to mine, I think the question of where the money went is just that it went back to where it originated: in my case, the ward primary budget category.
"The EFT is reversed automatically after CUBS ingests a rejection file from the bank."
So If your case is similar to mine, I think the question of where the money went is just that it went back to where it originated: in my case, the ward primary budget category.
-
- Senior Member
- Posts: 3909
- Joined: Mon Sep 24, 2007 9:17 am
- Location: Cumming, GA, USA
Re: Returned EFT
A returned EFT transaction shows up as Voided with a 0 amount just like a voided check does. So, no, it isn't escheated and it doesn't take out of the ward's funds.
-
- New Member
- Posts: 1
- Joined: Wed Nov 02, 2022 11:24 am
Re: Returned EFT
I have the same problem. I cannot get rid of the "Returned EFTs" from the DASHBOARD. This was due to a member's bank account being closed before the funds were sent. Any help would be appreciated
-
- Senior Member
- Posts: 3909
- Joined: Mon Sep 24, 2007 9:17 am
- Location: Cumming, GA, USA
Re: Returned EFT
I'm pretty sure you just need wait and it will go away on it's own after a while. I certainly didn't do anything when I have a returned EFT and it doesn't show up now. But that's been several months and I don't remember how long it took.
-
- Senior Member
- Posts: 754
- Joined: Thu Oct 20, 2016 4:34 pm
- Location: near Milwaukee, Wisconsin, United States
Re: Returned EFT
This raises a question. Since the returned EFT notice does not go away very quickly, would we then have to keep checking it until it disappears, as it is possible another returned EFT could happen in the interim? Perhaps the business rules have been written to think of this possibility, but I have my doubts.
-
- Community Administrator
- Posts: 34513
- Joined: Sat Jan 20, 2007 2:53 pm
- Location: U.S.
Re: Returned EFT
But does it go away because it's been escheated?
In this situation, it would probably be best to call support for direction.
Have you searched the Help Center? Try doing a Google search and adding "site:churchofjesuschrist.org/help" to the search criteria.
So we can better help you, please edit your Profile to include your general location.
So we can better help you, please edit your Profile to include your general location.
-
- Community Moderators
- Posts: 11481
- Joined: Mon Mar 17, 2008 10:27 pm
- Location: US
Re: Returned EFT
No. It goes away too quickly to have been escheated. And besides, a failed electronic transfer does not qualify for escheatment, since the funds were never available to the recipient.
A check is assumed to be available to a recipient, and so the escheatment process for an uncashed check starts at one year or longer depending on the state. The Church begins the process at six months and uses the next six months to try and resolve the issue so that the funds do not have to be sent to the state.