TFW Members: Online Documentation - Drafting On a Date Ahead

You might do this for two reasons.

Your bank or EFT service requires tomorrow's date on all transactions.
You are away and cannot send drafts again for a week or more.

1. Your bank or EFT service requires tomorrow's date on all transactions.

Suppose for example that when your transactions arrive at your bank after 3 PM CST, the bank holds them until the next business day. Then on draft day set the date due ahead by a day (if sending in the AM) or by two days (if sending after 3PM CST).

Waited too long, and now need to change the date in your upload file to a date one day later? See Edit Upload Transactions.

One TFW user describes the shift to Drafting Ahead: Upcoming Dates Instead of Recent Dates.

2. You are away...

Suppose you are going away for two weeks. You want to collect member dues during that time. You want drafting to continue while you are away. You don't have anyone you want to leave in charge of drafting. You have another option: draft in advance.

EFT only. This does not apply to credit card drafting.

How?

First, draft everyone currently due.

Then select a date one week ahead (for example), which would be midway through your time away, and send those drafts. That advance date is the Effective Date for every transaction in the batch. When that date arrives, those transactions take effect and the money for them begins to move.

You might also send another batch farther in advance, with transactions that take effect (in this example) during your second week away.

Why send these three batches instead of one? If (in this example) you simply select a date two weeks ahead and send a single batch, none of the transactions in the batch take effect for two weeks. Some could be well past their due date by then.