Difference between revisions of "6 EFT Details"
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| − | EFT | + | '''EFT / Electronic Funds Transfer Overview''' |
| − | Overview | + | |
| − | Do you know where to set the EFT or electronic banking details for a bank account? | + | Do you know where to set the EFT or electronic banking details for a bank account? |
| − | The EFT function enables your Company to process funds ready for electronic transfer. This function will create an ABA file | + | 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. '''Electronic Funds Transfer (EFT)''' is an efficient means of processing single or multiple payments via a direct bank transfer. |
| − | ready to be processed by your bank. | + | |
| − | you to access the EFT system. | + | |
| − | via a direct bank transfer. | + | |
| − | How To Use the EFT function | + | How To Use the EFT function |
| − | To load payments into the EFT screen, you must first process the required Payment/s and select the Add to EFT tick box | + | *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. | |
| + | *From the Main Menu Select the Bankind Module and then select the EFT button. | ||
| + | *Ensure your '''Bank Account EFT''' data is completed fully and correctly in accordance with your Banks requirements. <br> | ||
| + | *'''APCA Number''' must be that supplied by your Bank. <br> | ||
| + | *'''BSB''' and '''Account '''number must relate to that of the correct Account Name for the data to load into your banking program. <br> | ||
| − | + | '''N.B.''' 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 EFT | + | Select the '''Account''' you are making the EFT payments from '''E.g. Bank''' Note that all the data entered into the '''Bank Name '''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. | |
| − | + | ||
| − | The Options button allows you to alter the default EFT Options you set in the Account screen. | + | |
| − | Select the Supplier payments | + | Select the '''Supplier''' payments to load into this EFT transmission, by 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. |
| − | + | ||
| − | Alternately, if you wish to pay all Suppliers in the list you can select the Select All button. | + | |
| − | + | '''N.B.''' 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. | + | 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 | + | 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. |
| − | + | ||
| − | 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 | + | 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. |
| − | + | ||
| − | If you receive any errors upon importing the file, you should first check that the data you have entered into your | + | |
| − | + | ||
| − | + | ||
| − | + | ||
| − | Westpac Settings that worked on 11 December 2009 are "Include Balance Record" Off; "Include Net Total" On; | + | 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; |
| − | "Include Credit Total" On; "Include Debit Total" On; | + | |
Revision as of 15:58, 12 July 2011
EFT / Electronic Funds Transfer Overview
Do you know where to set the EFT or electronic banking details for a bank account?
TheEFT function enables your Company to process funds ready for electronic transfer. This function will create anABA 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. Electronic Funds Transfer (EFT) is an efficient means of processing single or multiple payments via a direct bank transfer.
How To Use the EFT function
- 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.
- From the Main Menu Select the Bankind Module and then select the EFT button.
- 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.
N.B. 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 Account you are making the EFT payments from E.g. Bank Note that all the data entered into the Bank Name 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 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.
N.B. 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;
