Usage Scenarios

EFT payments are based on payment journals which can be generated the Suggest Payments function or by keying lines in to the journal.

New Commands Overview

This extension adds a number of new actions to the Bank menu in the command bar on the Payment Journal page.

New Command	Description
Create and Download EFT File	Once your payment journal is filled with the payments you wish to make, this option will take you to the EFT Transaction page where you will be able to select a bank account, file type, and enter reference information. If there are no validation errors, your EFT file will be downloaded ready for you to transfer to the bank software.
Cancel EFT Transaction	After creating and downloading the EFT file, the payment journal lines will be locked to prevent further changes. If you wish to cancel the EFT Transaction and re-enable editing of the payment journal lines, you can use this option. The option is only available if the status of the EFT Transaction is currently Exported.
Download EFT File	You can use this option to download the EFT file again without regenerating the EFT Transaction. This option will only be available when the status of the EFT Transaction is currently Exported.
Previous Error	The Create and Download EFT File process may restult in validation errors on some of the payment lines. You will receive a notification that some of the lines contain errors. You can use this option to jump to the previous payment journal line that contains an error.
Next Error	You can use this option to jump to the next payment journal line that contains an error.
EFT Transaction	This option will only be available when the status of the EFT Transaction is Exported. The option will take you to the EFT Transaction page where you can send remittances, print remittances, download the prevously export file, cancel the EFT transaction or review the details.
Edit Payee Details	This option can be used to change the payee details such as Name, Bank Branch No., Bank Account No., Email for Remittance Advice, and Our Account No./Reference.
Payment Breakdown	The payment breakdown report shows the applied and unapplied entries for each line in the payment journal.

Note

The Suggest Payments option on the Prepare menu has been updated to cater for One time vendors. It ensures that payments to a vendor that has been flagged as a one-time vendor will be split out into one payment per invoice.

The following new option has been added to the Prepare menu

New Command	Description
Suggest Customer Refunds	The Suggest Customer refunds batch job can be used to suggest refund lines. The difference between this option and the standard

Pay Vendors Using EFT

Typically the steps needed to pay vendors using EFT are:

• Suggest Payments
• Print Payment Breakdown Report (for approval)
• Create and Download EFT File
• Process EFT File in Bank Software
• Post Payment Journal
• Send Remittances

Suggest Payments

This is based on the standard suggest vendor payments option but will deal with one-time vendors differently by splitting out these payments onto separate lines even if you have selected to summarise per vendor.

Enter the filters you require, and complete the preparation of the payment journal as usual.

For payment lines that are linked to a one-time vendor you will be able to edit the payee details by selecting Bank > Edit Payee Details.

Print Payment Breakdown Report

Once the journal is complete, select the Bank > Payment Breakdown option to print the payment breakdown report for approval.

The report shows the applied and unapplied entries for each line of the payment journal and includes the hash total. If one-time vendors are included they will be shown with the one-time vendor code and their name.

Create and Download EFT File

Once your payment journal has been approved, select Bank > Create and Download EFT File. The EFT Transaction request page is shown per below with values defaulted from the last run.

The following fields are available on the Options section:

Field	Description
Transaction No.	Non-editable. Shows the document number from the first line of payment journal. This field will be used in the Transaction Reference Details when the rule Transaction No. is used.
Payment Date	Defaults to today's date. The payment date will go in the file and will be assigned as the Posting Date to all journal lines when the file is successfully generated. You cannot use a payment date less than today's date.
Pay From Bank Account	This will default to the Bal. Account No. specified on the payment journal batch, but you can select any valid bank account to use as the source for the payment. Only bank accounts with a correctly formatted Bank Branch No. and Bank Account No. will be available for selection. See New Zealand Bank Account or Australian Bank Account in Getting Started for more details
Export File Type	Select from the available file types. This will default to the first valid file type for the selected Pay From Bank Account. For most bank types there is only one export file type available.
Create One Bank Trans For	This option field allows you to decide how many bank ledger entries will be created when the journal is posted as follows: This batch of payments means a single line coded to the bank will be added to the journal which will result in a single bank ledger entry for the entire batch of payments. Each payment in this batch means the bank account will be added as the balancing account on each journal line. When posted, this will result in a bank ledger entry for each individual payment. This option can be easier for reconciliation.

The Transaction Reference Details section allows a mapping of how the various reference fields will be populated in the EFT file. Different fields are shown depending on the Export File Type selected and the setting of Create One Bank Trans. For.

The ABA file format allows for three reference fields as follows:

Name	Description
Lodgement Reference	18 character reference indicating the details of the origin or the entry apperas on the recipients bank account statement
Name of Remitter	16 character reference that appears on the recipient's bank account statement
Payment Description	12 character description of entries on payments in the file. This does not appear on the recipient's statement

Each of the reference fields can use two different rules to populate the values in the file:

Rule	Value
Fixed Text	Enter the value to use in the field.
Transaction No.	Use the Transaction No. for this EFT Transaction.

The following reference fields are available for all New Zealand bank file types:

Name	Description
Our Code	12 character reference that appears on payer's bank statement
Our Particulars	12 character reference that appears on payer's bank statement
Our Reference	12 character reference that appears on payer's bank statement
Their Code	12 character reference that appears on recipient's bank statement
Their Particulars	12 character reference that appears on recipient's bank statement
Their Reference	12 character reference that appears on recipient's bank statement

Each of the 'Our' reference fields can use two different rules to populate the values in the file:

Rule	Value
Fixed Text	Enter the value to use in the field.
Transaction No.	Use the Transaction No. for this EFT Transaction.

Each of the 'Their' reference fields can use three different rules to populate the values in the file:

Rule	Value
Fixed Text	Enter the value to use in the field.
Our Account No.	Uses the Our Account No. field from the Customer or Vendor being paid.
Transaction No.	Use the Transaction No. for this EFT Transaction.

Having completed all fields as required, select OK to generate the file. The system will validate each line within the payment journal to ensure all required fields are entered and are in the correct format. If all fields are validated OK, the EFT Transaction file will be downloaded. If there are any problems in the journal, you will see the following error message:

The errors will be listed in 'Payment File Errors' factbox on the right of the payment journal page.

Resolve any errors and then rerun the Create and Download EFT File process.

Note

If the bank account for a one-time vendor is invalid you can select Bank > Edit Payee Details to correct it.

Successful generation will result in the following:

1. Prompt to open or save the file
2. Payment lines updated with Balance Account
   or a total payment line added depending on your choice of the Create One Bank Trans. For option
   
3. EFT Transaction record created to represent the file > From the payment journal select Bank / EFT Transaction
   The EFT Transaction record may also be accessed by menu search EFT Transaction

The payment journal may now be posted in the usual way.

Note

It is a common business process to wait until the file has been successfully loaded to the banking application before posting the payment journal.

Download EFT File (Copy)

A copy of the EFT file can be downloaded from the unposted payment journal > select Bank / Download EFT File. You will be prompted to open or save the file

Note

After posting the payment journal, a copy of the file can still be downloaded from the EFT Transaction record

Cancel EFT Transaction

A generated EFT Transaction can be cancelled from the unposted payment journal > select Bank > Cancel EFT Transaction

This will:

• Either remove the Balance Account No. on the line, or remove the total balancing line added (depending on your choice of Create One Bank Trans. For)
• Remove the Exported status from the EFT Transaction record

At this point, the payment journal may be edited or re-suggested, and a new file generated.

View the EFT Transaction Record

The EFT Transaction record associated with a payment journal can be viewed from the payment journal after the EFT file has been created and prior to it being posted. From the payment journal select Bank > EFT Transaction

The EFT Transaction record is displayed.

Processes From EFT Transaction Record

Successfully generated EFT files are represented in the system by an EFT Transaction record.

To view a list of all EFT Transaction records use the menu search for EFT Transaction.

The EFT Transaction list is displayed showing summary information for each record including date/time created, user, and total amount.

Creating a One-time Vendor Document

1. Create a new purchase order or purchase invoice using the vendor number as the one-time vendor you have setup previously. Below is an example for a purchase invoice.

Complete the new required fields (marked with an asterisk) for the one-time vendor:

• Vendor Name - used for the remittance advice.
• Bank Branch No. - should be completed in the correct format for the country i.e. for NZ 99-9999, or for AU 999-999.
• Bank Account No. - should be completed in the correct format for the country i.e. for NZ 9999999-999, or for AU 999999999.
• Email for Remittance – enter an email address. You can optionally enter address fields which will print in the address section on the remittance.

You can optionally also fill in the following:

• Email for Remittance Advice – this will be used to send the remittance advice to once the payment has been made.
• Our Account No./Reference – will be used for the Reference field on the payment.
• Address details – these will be used on the remittance advice.

Post the Invoice

You can now go to the payment journal and select these entries for payment.

Refund Customers Using EFT

Typically the steps needed to refund a customer using EFT are the same as for paying a vendor, except you will run the Suggest Customer Refunds rather than Suggest Vendor Payments on the Prepare menu:

• Suggest Customer Refunds
• Print Payment Breakdown Report (for approval)
• Create and Download EFT File
• Process EFT File in Bank Software
• Post Payment Journal
• Send Remittances

The Suggest Customer Refunds option on the Prepare menu will find all customers with a credit balance within the filters you apply and create a payment journal line for each one. You will then follow the same process as for Vendors to create the bank file, upload to your bank, and print or email remittance advices.

Note

• The customer needs to have a valid bank account set as the Preferred Bank account Code on the customer card.
• The Email for Remittance field should contain the address you want the Remittance advice to be emailed to. If this field is blank the Email field will be used instead.