ACH (Automated Clearing House) – a central distribution and
settlement point for clearing the electronic credit and debit
transactions between financial institutions.
ACH payment – a payment made to a payee by way of direct deposit to
the payee's bank account as an alternative to issuing a warrant or
Addendum Record – an ACH record type that carries supplemental data needed to provide information concerning an ACH payment.
Banking Day – any day on which financial institutions are open for business with the public.
Credit Entry – an electronic funds transfer that the State initiates to deposit funds into an EFT account.
Debit Entry – a reversal of a credit entry.
NACHA – National Automated Clearing House Association – sets the
operating rules and procedures for users of the ACH direct deposit
Payee – an individual, entity or state employee that receives a payment from the State of Oregon.
Payment Information Center – Remittance website for viewing Direct Deposit payments. Payees can view up to 18 months of remittance activity.
Paying State Agency – The State agency that initiates a payment.
Prenote Record – a $0.00 test transmittal of each payee's direct
deposit information. Prenotes are sent for setups and changes of bank
R*STARS – Relational Statewide Accounting and Reporting System.
R*STARS is part of the Statewide Financial Management Application
Rules – the requirements of the National Automated Clearing House Association and Federal Reserve System's Regulation E.
Settlement Date – the date the payee's financial institution credits the payee's individual account.
State – the State of Oregon.
State Agency – any entity in the Executive, Legislative, or Judicial branch of state government.