Automated Deposit Tracking and Reconciliation
The Automated Financial Aid processes generate disbursements that require funds to be requested from the federal government, deposited into the institution's federal account, and then transferred into the institution's operating account. When students withdraw from their course of studies, funds must then be returned to the institution's federal account.
You can use the Automated Deposit Tracking and Reconciliation form to:
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View the history of disbursements from the time they are created through posting, drawdown of funds, deposit of funds into the institution's federal account, and transfer of funds into the institution's operating account.
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Record a drawdown, record a deposit, transfer funds, and return funds.
Prerequisites
You must have:
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Common - Processes - View authorization
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Financial Aid Automation – Processes – Automated Deposit Tracking and Reconciliation authorizations
Access Method
Select the Processes tile > expand Financial Aid > select Automated Deposit Tracking and Reconciliation.
Process to Return Student Funds to the Institution
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Record a drawdown |
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Record the deposit |
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Transfer the funds |
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Return the funds |
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Review the batch history |
