Admin Page 3 of 9
| Feature Descriptions | Managing Users |
The "Edit Features Access and Limits" page allows you to specify the features you want for your business. This page also allows you to set company limits for electronic transfer and payment options as described below. Make sure to click “Save” at the bottom of the screen to confirm your selections.
Use limits to maintain control over your budget, particularly when multiple users are creating payments.
Company-wide limits
The Primary Contact or any Company Administrator can specify a dollar limit for wires, ACH payments, or tax payments. Transaction, daily, weekly, and monthly limits can be set for each type of payment. These company-wide limits can be reset by the Primary Contact or Company Administrator at any time.
If a payment exceeds the pre-set limit, the user will receive a “limits error” and the payment will not be saved. The default limit is $0 for all categories, meaning that all payment requests will be considered over-the-limit and would be rejected. However, you can establish an approval process to review and approve/reject over-the-limit payments by using the “Exceed limit with approval” option.
Note: The Primary Contact and Company Administrators can view and change company-wide limits. Other Users cannot view limits. If other Users will be creating wires, ACH payments, or tax payments, it may be helpful to advise them of the limits.
Exceeding limits with approval
Checking “Exceed limits with approval” allows over-the-limit payments to be created and held until they are approved by the Primary Contact or Company Administrator. This option is available for all types of payments, for transaction, daily, weekly, or monthly limits. If you want to ensure that every payment goes through this approval process, keep the company-wide limits at $0 and enable all the “Exceed limit with approval” boxes.
When you set company-wide limits, you control the maximum dollar amount for wire and ACH transactions. However, these limits can be modified by any Company Administrator that has been given access to your account. If your company desires an additional safeguard, you may contact Alaska USA in writing and request that the credit union set a dollar limit of your choosing. That limit may not be exceeded or changed within UltraBranch Business Edition.
In order to change or override this limit, the Primary Contact must request that change in writing.
Another option: To bypass the approval process, the Primary Contact or a Company Administrator could revise the pre-set limits to accommodate the wire, ACH or tax payment.
ABC Corp. has a Primary Contact, Joe Smith, and User Sarah Jones:
On set-up, Joe wasn’t sure what the company-wide limits should be, so he left them at the default limit, which is $0. The next week Sarah set up an ACH payment for payroll equal to $2,893, but when she tried to process it, she received a “limit” error and the ACH request was not saved.
She called Joe, who went back to the “Company Features and Limits” page and entered a limit of $3,000 per transaction, $6,000 per day, $10,000 per week and $50,000 per month. Sarah created a new ACH payment, which went through successfully. And because Joe set the monthly limit much higher, the next payroll went through just fine as well.
A month later, Joe decided that he wanted more control over the payment process. He went back to the “Company Features and Limits” page and reset all limits to $0. But this time he checked the “Exceed limit with approval” boxes. Now when Sarah sets up any payment, it is saved until Joe can review it and approve or reject it.
XYZ Corp. has a Primary Contact, Vickie Rogers, and Company Administrator John Hall:
Vickie set up the following company-wide limits for ACH payments:
Per transaction: $100
Per day: $300
Per week: $1,000
Per month: $2,500
She also enabled “Exceed limit with approval” for the “Per day” limit. John attempted to schedule a $400 ACH, but received a “limit” error and the ACH payment was not saved.
Vickie went back to look over the “Company Features and Limits” page and realized that the “Exceed limit with approval” box must be checked for each type of limit that is exceeded. In this case, the $400 ACH exceeded both the per transaction and per day limits. However, the “Exceed limit with approval” box was not checked for “Per transaction” limit. Vickie corrected this and John was able to recreate an ACH that was saved and held for her further review and approval.
John wants XYZ Corp. to be able to send wire transfers. As a Company Administrator, he has authority to turn on various features and set limits. He enables “Wire Domestic” and sets limits for it in the “Company Features and Limits” page, and he successfully creates a wire. But when he tries to release the wire, he gets an “Entitlement Error.” Why?
Sending wires is a two-step process: all wires are created and then released. John needed to check both “Wire Domestic” and “Wires Release” on the “Company Features and Limits” page. Once John enabled “Wires Release” and set the limits, he was able to release the wire he had previously created.
Now that John has wires working, he’s using them more and more. Vickie wants to stay in the loop for all requests, so he has enabled “Exceed limits with approval” for “Wire Domestic.”
When the last wire of the month went over the monthly limit of $10,000, Vickie was able to approve it. John tried to release the wire, but received an error. Why?
Since it is the final step, the “Wires Release” function does not include the option for “Exceed Limit with Approval.” And so if the limits for “Wires Release” aren’t set high enough, an approved wire can be stopped at this point. In this example, John had set the monthly limit for “Wires Release” at $10,000, the same as the monthly limit for “Wire Domestic.” However, even though Vickie had approved the over-the-limit wire on the “Wire Domestic” side, there was no option to approve it for “Wire Release.”
John and Vickie realized that they should set the “Wires Release” limits higher than they had first thought to accommodate for any future over-the-limit wires that successfully move through the initial approval process.