Patronage Pay Types

The Patron ACH File allows cooperatives to pay out patronage and have it directly deposited into the Patron’s bank account. This is available for a standard NACHA file format as well as a Canadian AFT format. The cooperative’s banking information mu...

Patronage checks are based on captured totals, whereas dividend, interest, demand note, and payout checks are managed as separate actions. Processing patronage-related checks and activity vary considerably from one Cooperative to another. Questions...

Found at Pay / Detail Patronage Checks , this method is used when some patronage categories are distributed differently than others. Patronage checks are calculated by taking captured Patron dollars or quantities times the corresponding Patronage ...

Dividend checks, based on a Patron’s stock value, can be issued through Pay / Dividend Checks . There are three methods available for the calculation of the Dividend payment. Regardless of the method selected, only Active Stock Certificates ...

Found at Pay / Interest Checks , the interest checks are based on interest earned on stock balances rather than patron activity. There are four methods available for the posting of the Interest payment. Regardless of the method selected, onl...

Found at Pay / Payout Stocks , this function allows paying all or part of the value of Stock Certificate per Patron in the form of a check. There are four methods available for the calculation of the payout check. Regardless of the method se...

Found at Pay / Running Balance Interest Checks , the interest checks are based on the running balance of Patron activity per certificate. There are four methods available for the posting of the interest payment. Regardless of the method selected, o...

Found at Pay / Demand Note , the Demand Note allows paying different rates of interest based on date ranges and gives the ability to distribute interest throughout the year without fear of overpayment. The Demand Note also gives the ability to with...

Sometimes there is a reason to take all or part of a Customer’s patronage to pay an Accounts Receivable bill. Several steps must be done to ensure proper posting and clearing of these accounts. Note : Moving the patronage to A/R is illegal if th...