Tool number 1014: 1099/1098 Tax Information Report is the tool you can use to find this information. If you select the summary tab you will get your overall numbers. This report also displays information from your credit union's tax file, to be used when verifying tax information for reporting to members and the IRS. Three reports are available: one for 1099-INT information, one for 1099-R information, and another for 1098 information. You can even print the report for a single Social Secur  More...

When using Tool #990 Work With Accounts Payable Vendors to verify your 1099 vendor information, take special care that you are entering the correct 1099 box number from the 2020 1099-MISC form instructions; especially paying attention to box numbers that changed, including 7, 9, 10, 12, and 14. As an example, if your vendor reports Gross Proceeds Paid to an Attorney , that was previously box 14 and is now reported in box 10, so in order to report this correctly you must change the 14 to 10 on t  More...

Yes, if data is received late or needs to be recreated due to a missed deadline, your credit union may incur a fee of $100 or more. For deadlines refer to the Year-end Processing Guide, which is sent to your credit union every fall.

Previously, credit unions used Code 38 for “Return to Maker”, but this code is no longer available in the system. This change was initiated by a Reg CC change in 2018. Now, if you are presented with a situation where you need to return a check to another institution, it is recommended that you use one of these codes to clarify the reason for the check return. Some codes allow you to make the change in CU*BASE. Others require that you contact your Check Item Processor. Read below for   More...

The IRS, which makes changes to tax form layouts almost every year, recently added this new informational box to form 1098 to report the balance on a mortgage account as of January 1 of that same tax year. Each year on January 1 we capture the loan balance on all loan accounts in a special file, and then when tax forms are created at the end of the year we can use that figure. Therefore, for loans that were opened in a prior tax year, this balance is usually easy for members to understand.   More...

Reports are categorized in CU*Spy according to the type of report, not the output queue to which they were printed. If a particular on-demand report also happens to be set up for Monthly Automation via the Report Scheduler, even if it is scheduled to print to the MONTHxx OUTQ it will still go to the same category in CU*Spy as always, not to the End of Month tab. Hint: When you are checking your automated reports to make sure they all ran, rather than try to remember where they normally get place  More...

No, you can start with the most recent month you consider your books to be closed and no longer need to be able to post entries to that month. (You don't need to run it multiple times for multiple months to catch up. )

The Closed Account Report and the Closed Membership Report have two versions. LCLACE and LCLMBE are the daily reports that run at EOD. These reports show closed accounts and closed memberships for a single day. LCLAC and LCLMB are the reports that are run from the CU*BASE menu and via Report Automation, and these show closed accounts and closed memberships for a given month.

Yes. You will want to ensure that no other users are performing any general ledger processing when these steps are taken! The first step is to use Tool #202 Chart of Accounts/Budget Groups Maint and update the Current process month and year to 12/YY (December of the closing year). In addition you will want to flag the line item Current Processing year/month is equal to period 13 Y/E. Then create and post your entry using Tool #61 Create/Post GL Journal Entries. Remember to also post the ne  More...

Credit card finance charges can be confusing as they are different from a normal simple daily interest consumer loan, because billing cycles play a part in the finance charge calculation. Both current and previous billing cycles are required for the calculation to qualify for a configured grace period. Grace period flags are determined by the credit union and disclosed in their credit card disclosures. Finance charges are waived if the account qualifies for the grace period configured in the loa  More...

The fields are related to Process Codes, in that they are derived from the code attached to the message received from the plastics processor (vendor, or switch). The Type you see in the initial Type column of the Activity screen relates directly to the Transaction Description when you view additional transaction details. Transaction types may not apply to all vendors. Examples of these labels are as follows: DEP (Deposit Transactions) ATM/DEP A deposit made at an ATM. ATM/DEP - including a $  More...

The most likely reason is that the member did not have any activity for the month that would trigger a statement, based on the CU's configuration. Most credit unions have their statement configuration set up to print a monthly statement only if the member has a checking account, and only if there is activity on that account, saving postage costs on months when there is no activity. You can verify this by viewing his Share Draft Transaction Inquiry in Phone Operator, then compare that to yo  More...

See the related AnswerBook item below.

These reports do not necessarily match. The report generated by Tool #1014 1099-1098 Tax Information Report displays information from your credit union's tax file, to be used when verifying tax information for reporting to members and the IRS. Three reports are available: one for 1099-INT information, one for 1099-R information,1098, and 1099-SA information. You can even print the report for a single Social Security number, if you need to check on a certain member's information. This in  More...

Remember that this new value only started being calculated with the implementation of the 22.05 release in May of 2022. However, if you had been tracking this manually via a spreadsheet since write-off, use these steps: Launch Tool #1030 Write-off/Chart-off Loan History Maint Enter the written-off loan account number Calculate the sum of whatever amount appears in the Int accrued since write-off field now plus your tracked figure, and enter that total into the field Click Update (F5) to   More...

Yes! We want to stress that this is not a save it and forget it process. It is important that you review your settings before the end of the month. You may decide to adjust them slightly, or select to remove them from the automation process. Additionally, you should check to make sure that no one accidentally deleted your settings.

Prior to the 16.10 release, the SSA began using multiple Company IDs, and it was recommended that credit unions consider using Automated Funds Transfers (AFTs) to handle distributions. Beginning the 16.10 release a new cross-reference system will be implemented that will automatically funnel all incoming company IDs from the Social Security Administration and treat them as if they came from one, consistent company ID we’re referring to as the “Primary ID.” With the changes ma  More...

Download the Software Note: Our network requirements have been updated and can be found here . Please verify with your IT vendor that these changes have been put into place before attempting to download Station Control. You can download CBX from this link . Site-Four clients please use this link . Instructions for Manual Install of CBX Station Control Run the downloaded CBX Install Suite Prod CBX1.exe installer. This will require administrative privileges on the workstation. 1. On the CBX In  More...

Prior to the 16.10 release, the SSA began using multiple Company IDs, and it was recommended that credit unions consider using Automated Funds Transfers (AFTs) to handle distributions. Beginning with the 16.10 release a new cross-reference system will be implemented that will automatically funnel all incoming company IDs from the Social Security Administration and treat them as if they came from one, consistent company ID we’re referring to as the “Primary ID.” With the chang  More...

Yes. There is a technique for reviewing and manually adjusting branch allocation calculations for projected asset and liability balances. See the Budgeting with CU*BASE booklet for instructions. NOTE: The classical budgeting tools also contain a “Close a branch” function which zeros out monthly figures from your budget starting with a month you specify. But this does not affect projections for asset and liability balances used in the modeling tools.

When a device first connects to the iSeries, a virtual device is created - consider it a placeholder for that workstation or printer. Only one device can exist for each ID, which is why only one person can sign into a printer at a time. Throughout the virtual devices lifecycle, there are several different statuses that device can be in. Read below for some details! Workstations VARY ON PENDING - this is the default status of the virtual device. This status means the device is ready and wai  More...

Using CU*BASE to Comply with New Rules for Tracking Beneficial Ownership FinCEN has issued new rules under the Bank Secrecy Act that require financial institutions to identify and verify the identity of the beneficial owners of all legal entity members (corporations, etc.). Under the final rule, credit unions are required to have written procedures to identify and verify beneficial owners of legal entity members who open new accounts on or after May 11, 2018. In addition to identifying and coll  More...

Do not use these instructions if you are performing one of the standard uploads such as to DMPIMPORT, FCBUSINESS, FCPERSON, IMPEMAIL, etc. Instead, look for your appropriate .FDFX companion file in C:\cubase\cubase\resources Instructions below are relevant for projects where you are working to upload data to a custom table destination that meets the following criteria: The table already exists in CU*BASE The table has been used before (has at least 1 row of data in it). For the purpose of the ex  More...

IMPORTANT NOTE: When It’s Me 247 was updated in 2021, the “See” option shown on here was made unavailable. There are two major points to consider when thinking about allowing members to see information beyond the account to which they are actually logged in. Both extend beyond online banking to consider a financial institution’s role and responsibility in protecting member private data via all access channels, from the teller line to a back office employee answering   More...

When you use the filter buttons on the File Maintenance Inquiry dashboard (Tool #159: Audit File Maintenance Inquiry (CUFMNT)), indicators note which programs, fields/columns, and files/tables AuditLink has flagged as “critical” for auditing teams to monitor on a daily basis. You can quickly sort by that indicator and select only those items for a quick scan of maintenance that directly affects member accounts. Below is a listing of these critical items. Columns/Fields Field Why   More...