Which Record is important for providing standard entry class details?

Which Record is important for providing standard entry class details?

• A. Batch Header Record
• B. File Control Record
• C. Entry Detail Record
• D. Company Batch Header Record

Answer: (D)

The Company Batch Header Record is essential for providing standard entry class details because it contains critical information about the batch of ACH entries being processed. This record includes pertinent identifiers such as the company name, company ID, and the standard entry class code, which collectively define the nature of the transactions within that batch. The standard entry class code indicates the type of entries and their specific requirements, such as the handling of the transactions and the participating institutions, which is crucial for compliance with ACH processing rules. The Company Batch Header Record sets the stage for the batch, ensuring that all subsequent entries are correctly categorized and processed according to the established guidelines for the defined standard entry class. This enables financial institutions to properly manage risks and facilitate smooth transaction processing, as all relevant data is captured right at the start of the batch.

The Company Batch Header Record is essential for providing standard entry class details because it contains critical information about the batch of ACH entries being processed. This record includes pertinent identifiers such as the company name, company ID, and the standard entry class code, which collectively define the nature of the transactions within that batch. The standard entry class code indicates the type of entries and their specific requirements, such as the handling of the transactions and the participating institutions, which is crucial for compliance with ACH processing rules.

The Company Batch Header Record sets the stage for the batch, ensuring that all subsequent entries are correctly categorized and processed according to the established guidelines for the defined standard entry class. This enables financial institutions to properly manage risks and facilitate smooth transaction processing, as all relevant data is captured right at the start of the batch.