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finance:tables:bankcodes:eft
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EFT - FIN2800
Finance > Tables > Bank Codes > EFT
This tab is used to create the record for a vendor's EFT payments to their bank. This function is accomplished by creating an EFT file during a payment run. This file is then given to the local education agency's (LEA) bank to be transmitted to an automatic clearinghouse. The automatic clearinghouse is normally a centralized federal reserve bank that transmits necessary data for electronically transferring funds to the vendor's participating depository financial institution (DFI).
Set up an EFT code:
| Field | Description |
|---|---|
| Immediate Destination |
Type the nine-digit Federal Reserve routing number used to identify the receiving point. This number is provided by the individual bank.
The field length is ten digits, since some banks require a leading space before the nine-digit routing number. If you type the nine-digit routing number and later need to add a space before the number, you must do the following:
Only follows these steps when you need to add a space before a number that was previously saved. |
| Company ID Type 5 | |
| Originating DFI ID Code | |
| Company ID Type 8 | |
| Employer Offset Account | |
| Immediate Origin | |
| Originator Status Code | |
| Bank Code |
Click Save.
**NOTE:
Other functions and features:
finance/tables/bankcodes/eft.1499269170.txt.gz · Last modified: 2017/07/05 10:39 (external edit)