Negative Balance Tracking

NegBalThere are two programs available for Negative Balance Share accounts and Charged off account tracking.

This program processes a ‘Negative Balance Report’ from the data processing system against the programs own data file. The data file contains all of the accounts that were negative on the last ‘Negative Balance Report’ processed with the current amount overdrawn and the report effective date that the account was first overdrawn on. Accounts that were on a prior report are dropped from the data file if they are not on the report being processed.

The program then creates an age report showing all accounts that have been negative since a user entered date.

If an account remains negative for a period of time it generally triggers some action by the credit union. This program completely automates the generation of the lists of accounts that have aged to the point where they require action.

The time to start the program, load the ‘Negative Balance Report’ and create the age report takes less than a minute. This is a significant time saving if you’re performing the process manually. If you have not been intervening with negative accounts on a daily basis because of the time it takes to review and process the list and determine which accounts need action this provides you with the tool to do that effectively.

Return to Automation, Integration and Reconciliation Page

// // // //