Account Reconcilement FAQs

Yes. You can submit a check issuance file through KeyNavigator web-based file transfer or direct transmission. This data can also be part of a Consolidated Payables file.

No.

Yes. You can manually enter information if you hover over the Payables category, and select Account Reconcilement from the menu. From the Account Reconcilement page, please select Check Issue Maintenance.

Your ARP outbound file can be labeled:

• Paid
• Paid and Outstanding
• Paid, Outstanding, Void and Stop

The minimum is 4; the maximum is 10.

Yes, you will receive a daily file. At month end, however, the daily file will be combined with the month end file in one file.

There are several options to choose from.

• Direct transmission:
  • FTP
  • PGP
• Web-based file transfer through KeyNavigator
• Consolidated Payables file
• Check Outsourcing file
• Manually enter the issuance data through the Payables section on KeyNavigator

Yes, the ARP reconciliation report date and DDA statement date must match. If implementing an ARP service mid-month, your DDA statement will be cut twice. The first cut will be prior to the implementation and the second cut will be at month end. You cannot backdate a statement cut date.

Due to compliance requirements, statements are only available as PDFs. While not offered or supported by Key, there are commercially available software programs that convert a PDF file to Excel.

Effective with your start date, items will be available for you to view during the testing phase. Contact your Payments Advisor for your service start date, which may occur prior to transmission testing being completed.

No. Key already has the past issuance data file. An implementation date will be communicated once testing has successfully been completed. Only items issued after that date will go through the Payee Name Recognition process.

The “lead account” processes all files sent, regardless of the account number. When a file is processed, the total items will show on the “lead account” and the detail will show on the Audit Report for the account to which the file was sent.

The mailbox ID is your access to process a file on our KeyNavigator website.

The file confirmation on KeyNavigator is a confirmation of connectivity. Actual file data cannot be validated until the file updates into the reconciliation software during Key’s nightly batch processing. Therefore, it’s possible that the file you sent to Key was invalid, and therefore wasn’t updating properly, causing a large number of positive pay exceptions. To ensure that your file was received correctly, on the next day at 8:00 a.m. ET, you may review file data using the Audit List of Issues.

No. If you send an invalid file, you will need to contact the ARP Operations mailbox (ARP_Transmissions@keybank.com) or call the assigned reconciler so that the invalid file can be backed out of the ARP software. If the invalid file is not backed out, the second file sent will reject because the check numbers are the same.

If transmission testing is not completed, additional time and resources are required to manually review your paid transactions. Completing testing and sending files in a timely manner reduces the number of exception items that must be reviewed and then paid or rejected.

Two options are available:

• New Account Number – Open a new ARP Account dedicated to Full Plan Positive Pay services and closing out (over time) the Partial Plan account. A periodic change in account numbers is a standard fraud protection practice.
• Account Conversion with History of Issue Records – Provide a History Issue File of all Outstanding Issue Records of (checks yet to pay). Providing Key with a history of issue records will reduce Positive pay exceptions on the KeyNavigator Mismatch Report and at the Teller line.