Accounting Finance:CIBC-Downloading Cheque Clearing File

Overview

Corporate Clearing Services offers clients issuing a high volume of cheques reduced chequing cost due to the customer being responsible for cheque verification and returning any irregular items to the Bank. A unique pseudo transit 30120 has been created and a bulk debit is made to the associated branch account 00900 for the total amount of the cheques cleared. Multiple accounts can be associated with a pseudo transit number. A computer file is generated each morning of cheques drawn on our bank account under the previous day’s date. The information contained in the file will include all information contained within the MICR line of our cheques.

Corporate Clearing Contacts

• UWD Contact - Nancy Ng (local 202) Nancy Ng
• UWD I.S. Contact - Norwin Uy (local 218) Norwin Uy
• CIBC, Cash Management Manager - Edward Woo Edward Woo Tel: 604-665-1167, Fax: 604-665-1841
• CIBC Helpdesk: T: 1-800-500-6316 (ask Nancy to contact bank if required)

Logging into CIBC

1. Open your supported web browser
2. Logo into CIBC
3. Enter your 16 digit User ID (only an authorized user will be issued a User ID)
4. Enter your token number (from your CIBC FOB)
5. Enter your PIN
6. Click the 'Sign On' button

Downloading File

1. Click CMO-Information Reporting-File Download
2. Click on the 'download file (the file you are importing)
3. Change the file name to CLMMDDYY.052 and click saveas
4. The file needs to be saved into the bankedi2\CIBC folder, which should already be mapped and navigable in the “Save As” prompt. Once saved, the file can now be read by green screen functions.

Import File to ASW

1.Go to green screen and click 1 (VA Company Production) - 1 (UWD Extensions) - 70 (Bank EDI)

2.Enter FW next to CIBC (file waiting to import) and press enter

3.Enter IM next to file to be imported and press enter (when file has been imported, the file name will disappear)

4.Press F12 to move back to previous panel

5.If imported file does not have an error, the file will be posted automatically.

View File with Error

1.Enter FI to view file with error and press enter

2.For errors, move to file and enter DT for details and press enter

3.Move to Errors only? and enter Y (this shows only transactions with errors) and press enter

4.Enter DT for detail on transaction with errors and press enter

Correct File with Error

Exceptions which are correctable

• Encoding error
• Items cleared in the wrong currency (change amount to match ASW system amount)
• All other issues must be directed to Information Systems for review.

1. For Encoding error, change the amount to match the ASW system amount. Note: encoding errors > $10 may be claimed back from bank
2. Change header total to match change and press enter
3. Press F3

Exceptions which are to be returned to bank

• Stale-dated (cheques older than six months which have been cashed but VOID in ASW system (delete transaction)
• Encoding error (greater than $10)
• Fraudulent signature (delete transaction)
• Payment stopped (delete transaction)
• All other issues must be directed to Information Systems for review.

Enter DL to delete and press enter

Posting batch after Error Correction

1. Enter PO to post file and press enter
2. Press enter again to post file into ASW

• When file has been posted, the status will be Posted
• Do not re-import or re-post a file into ASW

Import Control File Worksheet

1. Goto Template:unc:\\A:\common\AP\Banking\Cheque Clearing
2. Enter imported date,actual date, file#, lines, amount and importer and any important notes
3. Identify any exceptions in exceptions and stop payment sheets
4. Click save

Return Cheque in CIBC

1. Go back to the CIBC CMO website
2. Click Cheque Services
3. Click Cheque Inquiry
4. Click on the correct account 16512
5. Pick the date that corresponds to your clearing cheque report and click View Result

1. Click the box to highlight all cheque images
2. Click Cheque image
3. Scan through all the cheque images to make sure there were no cheque tampering done. If there was make sure to report it within 24 hours to CIBC. You do not need to print the cheque image report.

Corporate Clearing Online Decision

• All returned items must be submitted by the cut-off time of 1pm or all items will be paid.
• Intria will handle later day instructions:

Fax later day returns no later than 12 noon (local time) the following day to Intria (FAX #604-732-6242) Include the following details on the fax page: Posting date Cheque Serial Number Cheque Amount Return Reason

• Call 1-888-947-7736 (Helpdesk) if you need to contact the bank (Client #1225510BC)