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)
• CIBC F: 1-866-463-9004 or 1-905-415-0798

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

• Navigate to CMO -> Reporting -> Cash Management Reports
• Reports may not display if they were generated prior day (ie on the weekend). Edit search criteria to show reports for past week.
• There will be 2 types of files:

1. CCRAW – Corporate Clearing File

• This will be downloaded to clear cheques out of the cashbook. Download this file to BANKEDI2 (N Drive) -> CIBC.
• Change file name by clicking into the Archive folder and selecting the most recent file. Change date in file name to today’s date.
• For example, for October 29, select the most recent file (for Oct 28) and then change the file name to CL102919 for October 29th.
• Go back into the CIBC folder and save the file. If the file is saved in the Archive folder it will not be able to import into the system.

1. EFRPT – Input File Totals for CIBC EFTs

• Print and staple these to the previous days EFT batch. Ensure the amounts match.

1. Print Daily Transaction Report

• This will be used to clear the Cashbook
• Click Back to Dashboard (in the menu at the top of the screen) to return to the main menu in CIBC
• Select Information Reporting and click Edit for Prior Day Transaction Detail. Select prior day’s date, select the correct bank account (CAD uniPHARM Wholesale Drugs Ltd.), and add to accounts included in report before viewing report and printing

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.

Viewing 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

Correcting 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 the 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

Importing Control File Worksheet

1. Goto \\superserver.unipharm.local\Accounting\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

Returning 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

6.Click the box to highlight all cheque images

7.Click Cheque image

8.Scan through all the cheque images to make sure there was 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 #1-866-463-9004) 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)