EPY: Will Peoplesoft Support the New Nacha Rule Change: Micro-Entries Requirement?
(Doc ID 2889075.1)
Last updated on APRIL 15, 2024
Applies to:
PeopleSoft Enterprise HCM Payroll for North America - Version 9.2 to 9.2 [Release 9]Information in this document applies to any platform.
Goal
There is a new NACHA Rule Change for Micro-Entries, Effective in Two Phases, September 2022 & March 2023.
Will Oracle be delivering a change to the Direct Deposit program DDP001.SQR to separate the prenote process from the direct deposits to conform to the formatting requirement for a separate back and waiting period?
Formatting Requirements for Micro-Entries
• An Originator must submit Micro-Entries as a separate batch of Entries with the content “ACCTVERIFY” in the Company Entry Description field of the Company/Batch Header Record.
Waiting Period Following Origination of Micro-Entries
• An Originator that has originated one or more Micro-Entries to a Receiver’s account may initiate future Entries to the Receiver’s account as soon as the Originator’s process for verifying the amounts of the Micro-Entries has been completed.
Solution
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In this Document
| Goal |
| Solution |
| References |