This release provides a new menu in the Banking folder to create an EFT Bank File. EFT payments to Creditors can be entered and collated in a Bank File which can be uploaded to your Bank to facilitate payments to multiple Creditors in a single action.
This menu is available in Australia only due to the standardised bank file format agreed by Australian banks.
To prepare a Bank File ensure the following details are provided in Administration>Company Details Menu>Bank Account Details
- ABA Bank Code
- APCA Bank Reference
Creditor EFT Bank File Payment
The screen works similarly to the existing Creditor Payments screen. Outstanding invoices balances are listed for the selected Creditor.
Ensure the Creditor has the following bank account details in the Customer Masterfile:
- BSB Number
- Account No
Prepare Bank File Download
This option will collate all the EFT Payments that have been prepared for the selected bank account. Assign an EFT Payment Reference and provide an email address to receive the Bank File. The user’s email address will automatically populate this field.
The file in the email can then be securely uploaded to the Bank to action the payments.
Post Creditor EFT Bank File
This option will post all EFT Bank File Payments that are ‘OK to Post’. Any EFT Bank File Payments set to OK to Post will also be posted in the overnight Post process.