EFT Reversal
The EFT Reversal (EFTREV) page is a user-maintained table that allows authorized users to:
Request the reversal of EFT payments that went to the bank for processing.
Request the cancellation of EFT payments that were reversed successfully by the bank.
Requests to reverse applicable EFT transactions can only be inserted manually on the EFT Reversal table when the ACH File Generation status on the EFT transaction Header is Generated or Re-generated. Records on this table can be updated manually by authorized users, the Reversal ACH Transaction batch process or the Returned ACH Transaction batch process.
When records are added to the EFTREV table to request a reversal or reclamation, the system has edits to verify that the request is initiated within the applicable timeframe specified by the EFT Reversal Request Lag Days (EFT_REV_RQST_LAG_DAYS) and EFT Reclamation Request Lag Days (EFT_RECLAIM_RQST_LAG_DAYS) APPCTRL parameters. An error is issued if the Disbursement Format of the EFT payment is IAT.
The EFTREV table has the following edits:
The Reversal Status of Request Reversal indicates that the record is inserted on the EFTREV table for reversal or reclamations and the EFT Reversal File is not yet generated.
The Reversal Status of Reversal Sent to the Bank indicates that either the EF ACH Reversal batch process is run, a record is processed and a generated ACH file is sent to the bank, or a credit transaction (Rejected EFT) was received first and a debit transaction (Returned EFT reversal) was received second for the same EFT Number, either via the same or different ACH return file.
The Reversal Status of Reversal Returned by the Bank indicates that the EFT transaction reversal request that was sent is returned by the bank and the cancellation of the EFT payment will not be initiated.
The Reversal Status of EFT Cancel Request Failed indicates that the EFT Reversal Request was processed by the bank and the Returned ACH Transaction batch process could not initiate the cancellation of the EFT payment (possible reasons: EFT payment’s Status <> Disbursed or Warranted on the Check Reconciliation table, EFT payment is not on the Check Reconciliation table but on the Paid Check table, or EFT payment is neither on the Check Reconciliation table nor the Paid Check table).
The Reversal Status of Reversal Confirmed indicates Reversal or Reclamation of the ACH transactions is processed successfully by the bank. The Reversal Status is either manually updated to Reversal Confirmed or via the Auto Reversal Confirm job process.
The Initiate Disbursement Cancellation job in the EF ACH Reversal process selects records with the Reversal Status of Reversal Confirmed. If the corresponding record exists on the Check Reconciliation (CHREC) table with the status of Disbursed or Warranted, then the system inserts a record in the Disbursement Cancellation Parameter (DISCPA) table with the Active flag set to Yes and updates the Reversal Status on the EFTREV record to EFT Cancel Initiated. If the corresponding CHREC record with a status of Disbursed or Warranted is not found, then the system sets the Reversal Status to EFT Cancel Request failed.
