Simon Clive: Created page with "EFT (Electronic Funds Transfer) Link The EFT function enables your Company to process funds ready for electronic transfer. This function will create an ABA file ready to be pr..."

2011-06-30T00:03:27Z

Created page with "EFT (Electronic Funds Transfer) Link The EFT function enables your Company to process funds ready for electronic transfer. This function will create an ABA file ready to be pr..."

New page

EFT (Electronic Funds Transfer) Link

The EFT function enables your Company to process funds ready for electronic transfer. This function will create an ABA file
ready to be processed by your bank. You must register with your bank which will issue you with an APCA number to enable
you to access the EFT system. EFT (Electronic Funds Transfer) is an efficient means of processing single or multiple payments
via a direct bank transfer.

Do you know how to add a pay run to the Electronic Fund Transfer screen and view it?

To load payments into the EFT screen, you must first process the required Payment/s and select the Add to EFT tick box
on each payment screen.

Bank Details of the recipient must be entered into ERP to ensure the payment can be processed via EFT. Refer to
New Supplier for details on entering bank account details as per below.

Select the EFT button from within the Banking Tab

Ensure your Bank Account EFT data is completed fully and correctly in accordance with your Banks requirements.
APCA Number must be that supplied by your Bank. BSB and Account number must relate to that of the correct Account
Name for the data to load into your banking program. If all the information is not correct the file will not import
successfully into your Bank file. Refer to Accounts for details on where to fill this information out.

Select the Bank Account you are making the EFT payments from, e.g. Bank.
Note that all the data entered into the Bank Account set-up, has auto loaded.

Select the Transaction Description from the drop-down list, e.g. Supplier, as we are making Supplier payments. If it is
payroll that you are processing then select Payroll.
The Options button allows you to alter the default EFT Options you set in the Account screen.

Select the Supplier payments to load into this EFT transmission, by double-clicking in the Apply field next to
the relevant Supplier/s.
Alternately, if you wish to pay all Suppliers in the list you can select the Select All button.

Note: This will load the Bank Account details as per the account you are paying from.

Once you have selected all the payments you are making in this EFT run, select the Export button.

Windows Save As screen will load for you to name and save the file to a designated folder, ready for importation
into your On-Line Banking program.
Name the file into the required folder and select Save.

The file is now available for you to import into your On-Line Banking as per the standard import procedure for your
particular Banking software.
If you receive any errors upon importing the file, you should first check that the data you have entered into your
Bank Account in ERP is correct, as per the exact Bank Account details given to you by your Bank. If the problem
persists you should refer to your Banking software helpline for assistance, as it is usually a case of an incorrect
APCA number or some other account detail is not quite correct. Your Bank should identify any inconsistencies quickly.

Westpac Settings that worked on 11 December 2009 are "Include Balance Record" Off; "Include Net Total" On;
"Include Credit Total" On; "Include Debit Total" On;

29 EFT Link - Revision history

Simon Clive: Created page with "EFT (Electronic Funds Transfer) Link The EFT function enables your Company to process funds ready for electronic transfer. This function will create an ABA file ready to be pr..."