ACH Origination Process
Due to the nature of ACH transactions, the time it takes for an ACH transaction to process may vary from the same-day to a few days. Since ACH transactions are not in real-time, transactions are assigned the following statuses based on their progression:
The payment has been added to the system
The payment has been sent to the RDFI for processing
The payment was successfully collected and is pending funding
The payment was successfully funded.
There is a possibility that an ACH transaction may fail to process. On invoices where ACH transactions are still processing, reminders and late fees are paused until payment is finalized. Biller Genie labels invoices as “Pending” when they are in “Received”, “Accepted”, and “Collected” status.
Once the ACH transaction is finalized and “Paid”, the invoice is closed and payment is synced to your accounting software. If in the scenario that the ACH transaction fails to process, the invoice will be reopened, and reminders and late fees will resume.