Automated Check Deposits: Scanning a Check

New feature coming soon: This is currently in the beta testing phase.

Now that your account is set up, you can begin scanning your checks.

 

From within your Giving account, navigate to the Settings Main Menu and find the Automated Check Deposit tile. Selecting this will take you to the SmartPay Portal login screen. Only the account owner will have access to this tile so you may need to reach out to them to receive the correct permissions.

 

 

After logging in, You'll need to create a batch in the SmartPay portal to begin scanning your checks:

  1. Select Transactions from the left-hand menu and under Check Processing, click Remote Deposit Complete. From here you can manage open deposits or create a new deposit

    Screenshot_2023-04-21_at_12.24.58_PM.png
  2. To scan and deposit checks, click the Create New Deposit button in the bottom right of the screen. Best practice is to create a batch for each Fund or giving opportunity.

    Screenshot_2023-04-21_at_12.25.44_PM.png

  3. Enter the number of checks and the total dollar amount of the checks on the left side of the screen. 

     
  4. Now scan the checks through your device, and begin to see the images and details populate within the deposit. As a best practice, try to keep your deposits to no more than 100 checks.

    Some things to note: There may be a few minutes needed for the dollar amounts to appear and you can select the Refresh button to see if they are available yet.

    Additionally, you may see alert icons indicating that a MICR number was unreadable. Try clicking Refresh at the top of the grid after a few minutes to see if it clears up. If it doesn’t, you will need to rescan the check by clicking Rescan on the far right of the check’s row.

  5. When you have finished editing your details for that batch, you'll click the green Complete Deposit at the bottom right corner of the screen.

  6. When you have completed your batch(es) of checks, you can select the batch by checking the checkbox to the left, and click Close Deposit. Make sure before you close the deposit that the scanned total and the control total match both the number of checks and the total dollar amount of the checks.


 

Note: selecting Close Deposit doesn’t immediately send the checks to be deposited, they are sent at 7 PM CST each day – this allows multiple batches to be sent at the same time which reduces costs for you!

 

Important Distinction between a deposit and a batch

Deposits in SmartPay are not the same as a funded batch. Deposits allow for a group of checks to be scanned together and processed together but they may not settle in a batch of checks in the same group. The Deposit Report in your Giving account will show the details of the funds that were settled in your bank account.

 

Refunding or Voiding Checks

To refund a check, the check must have been an ACH conversion, not a Check21 transaction. To initiate a refund, from the dashboard, click the “Processed” option. This will bring up the list of deposits that have been processed. Find the check you want to refund and select it. At the top, you will see an “Actions” button – select it then select “Refund.”

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If you need to void a check for some reason, as long as the status of the check has not moved to Processed, you may void the check. Via the dashboard, click on the number in the “Approved” section to see the checks with that status and find the check you want to void. Once found, select “Actions” and “Void”. Voids typically need to be done same-day otherwise you’ll want to refund the check after it has moved to the “Processed” state.

 

Velocity Limit Reminder

Pay close attention to your agreed upon velocity limits that you created when you onboarded to ProfitStars. You may end up paying more fees if you submit a check or number of checks that ultimately push you over the limits. Those limits include:

  1. Daily processing dollar amount limit
  2. 14-day processing dollar amount limit
  3. Individual check dollar amount limit

Reach out to support if you need a reminder of your specific velocity limits.

 

Funding

Once the deposits of checks are submitted for processing and there are no issues found, they will be processed along with any other deposits closed out that day at 8 PM ET / 7 PM CT. 

 

Updated

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