TFW Members: Online Documentation - Drafting On Date To Come

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.