Once you have created a Bank Account, you can link it to a Grantee, Vendor or Fund in FoundationHub using their profile. You can also link them to an existing Bank Account.
For Funds, open the Fund’s profile and add the Bank Accounts using the Incoming Checking Account and Outgoing Checking Account fields.
For Grantees or Vendors, open their contact profile page, click on the Bank Links section and click on the Add button to add a new Bank Account.
The following popup window will list many different payment types. Bank Accounts can only be added for ACH and Wire payment types.
To do this, click on the dropdown field, and select “ACH“ or “Wire”.
Once you have changed the payment type to ACH, a list of all recipient-eligible ACH accounts will appear in the Bank Account field. If your desired bank account does not appear here, you may need to first add the bank account or check if the existing bank account is ACH eligible. If your account is shareable, you may have to toggle “Show Parent In-Use Accounts” on.
Select the Bank Account that you want to link and add an associated Email by which the contact will be notified when an ACH transaction has been posted. You can add up to 5 emails. You can also specify if this bank account is the contact’s default payment type, if this contact is the account’s primary owner, and if this bank link is active or not.
The default payment type will be the bank account automatically selected by any transaction or profile (another active linked bank can still be selected). Each contact can only have one default bank account.
The account’s primary owner is the person the bank account belongs to. Each bank account can only have one primary owner. You can view the primary owner to a bank account on the Bank Account profile in Utilities and Administration > Bank Accounts.
If the bank account you would like to link is not yet registered on FoundationHub, you can also create a new one directly from the link form by clicking ‘Create bank account”. This new bank account will need to be approved before the link can be made active.
Click “Save” to finalize the process.
This process changes the contact profile to ‘Setup’ status. You can see this under the status column on the bank link. The Entry-Level User who added the Bank Account to the contact needs to change this status to ‘Pending Approval’. This forwards the record to the Approver-Level User’s Inbox under Bank Links.
The Approver-Level User should carefully review the changes made and after reviewing, needs to activate the contact profile by changing the status of the record to ‘Approved’.
Note: These approval levels may vary based on your institution.
You can also send an email notification to the Donor when an ACH payment is received from them and will need to process these ACH payments.
A Grantee or Vendor can also have multiple bank links to different banks or payment types. All bank links will be shown on the contact’s Bank Links page.
To unlink a bank account from a contact, you must toggle the link to Inactive. Even if the bank account is made inactive, the link must also be made inactive otherwise the contact will still be linked to the inactive bank. Ensure that you modify the link before making an account inactive as after a bank account is made inactive, edits to the links will no longer be allowed.
If a bank account link is made inactive while being the only contact linked to that bank, they will continue to be the primary account holder. Another contact must be linked and made the primary account holder before the original contact will lose their primary status.
If a bank link has been made Inactive, you must turn on the “Inactive” toggle on the right side to see those links.
Editing a bank link will send it back to “pending approval (change)” and turn the link yellow. When a link is changed or created on a Grantee or Vendor, the status of the contact remains unchanged, and only the status of the link is affected. The contact will stay approved, and the bank link will have its own independent approval process.
Transactions using this contact will show the associated bank accounts as options under Payment Type Bank Account. A dropdown (per payment type) will be available showing all active bank accounts.
