Electronic Payment Claim

This function allows users from different units to claim funds that have been electronically deposited to a clearing account and move them to the appropriate recipient account. The Electronic Payment Claim moves the funds to the specified recipient account, verifies that the claimant has supporting documentation for the funds, and creates an audit trail by tying the claiming document to the original deposit.

Funds are made available on the screen by processing an Advance Deposit document using one of the chart and account values specified in Kuali Financials-FP Electronic Funds Accounts parameter. These Advance Deposits would normally be created by a user who has firsthand knowledge of such deposits arriving at the institution. After the Advance Deposit reaches Processed or Final status, it appears on the Electronic Payment Claim Lookup.