- On the navigation bar, click Banks.
- Select the appropriate bank account from the Select a bank account drop-down menu.
- Click Edit account details and then select the Payments tab.
- Mark the Allow? checkbox for the Electronic Funds Transfer row.
- Select the appropriate EFT form from the Default form drop-down menu.
- Click Edit Payment Options.
- Highlight the EFT General option and then complete the fields in the EFT General frame with the information provided by your bank. Click OK
- Click Save and Close.
Define Payment method and Bank Information for the participating vendors:
- On the navigation bar, click Vendors.
- Open the vendor to be paid by EFT.
- On the Vendor tab select Electronic Funds Transfer from the Payment method drop-down list.
- Select the appropriate bank from the Bank account drop-down list.
- Select the EFT Bank Information tab.
- Click New Vendor Bank.
- Complete the bank information and click Save and Close. At least one vendor's EFT status will need to be set to 'Pre-Note in order to create the Pre-Note Authorization file.
Note: The fields on the bank information screen differ depending on the country for which your database is configured. Contact your financial institution to determine the appropriate values to enter.
Before you can pay a vendor electronically, the bank requires a test file, or Prenote Authorization.
*Canadian databases do Not require pre-notification and therefore only have a bank setting of "EFT" or "Inactive" for vendors.
- On the bank, click Create a prenote authorization file under Administrative Tasks.
- On the Create Prenote Authorization File screen, click the binoculars to select a query of your vendors. If you have not created a query, click Add a New Query and create a query of all vendors. Since this process will include only Vendors whose EFT status is Pre-note, you can include all vendors and click Save to save your query. Note: The Pre-Note status is set up on the Vendor record in the Bank entered on the EFT Bank Information tab.
- Enter an output path and filename and click Create Prenote File Now. Send this file to your bank using their prescribed method.
- After the Prenote Authorization File is approved, globally change the Payment Method and EFT status on vendor records to EFT.
If the prenote fails for any vendor, set their EFT status back to Pre-note.
- Open Bank Accounts and select Print checks and record bank drafts under Payment Tasks.
- On the General Tab, select Based on payment method for Pay all vendors in this payment run.
- Verify that the information in the payment run is correct and click Create Now.
- Locate the ACH file in the file path that was defined in step 7 of the EFT configuration
- Upload the file to bank through your Bank's online banking website or other method allowed by the bank
*For more information about submitting the ACH file, contact your bank for their preferred method