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finance:maintenance:eftprocessing:createeftfile

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finance:maintenance:eftprocessing:createeftfile [2018/07/24 18:19] – external edit 127.0.0.1finance:maintenance:eftprocessing:createeftfile [2022/08/12 13:50] (current) – emoreno
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 //**Finance > Maintenance > EFT Processing > Create EFT File**// //**Finance > Maintenance > EFT Processing > Create EFT File**//
  
-<WRAP round intro>Electronic fund transfer (EFT) is a method of electronically transferring funds to a vendor for payment. The transfer is accomplished by creating an EFT file during a payment run. The file is then given to the local education agency's (LEA) bank to be transmitted to an automated clearing house (ACH). The ACH is a centralized, federal reserve bank that transmits the necessary data for electronically transferring funds to the vendor's participating depository financial institution (DFI).+<WRAP round intro>Electronic fund transfer (EFT) is a method of electronically transferring funds to a vendor for payment. The transfer is accomplished by creating an EFT file during payment processing. The file is then given to the local education agency's (LEA) bank to be transmitted to an automated clearing house (ACH). The ACH is a centralized, federal reserve bank that transmits the necessary data for electronically transferring funds to the vendor's participating depository financial institution (DFI).
  
-**Note**:  All fields on the [[finance:tables:bankcodes:eft|Tables > Bank Codes >  EFT tab]] must be populated. Otherwise, the create EFT file process cannot be performed.+The EFT process is completed in the logged-on file ID. 
 + 
 +**Notes**: 
 +  * The vendor's bank information must be completed on the [[finance:tables:bankcodes:eft|Finance > Tables > Bank Codes >  EFT]] tab. Otherwise, the create EFT file process cannot be performed. 
 +  * Grants and Projects EFT files cannot be created in Finance and vice versa. 
 </WRAP> </WRAP>
  
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 ^Finance|If selected, all EFT checks (i.e., payments) for the selected date time stamp(s) are included in the EFT file. If multiple date time stamp records are selected, all records will be included in the same file. A list of data from the last ten check runs is displayed in the grid.| ^Finance|If selected, all EFT checks (i.e., payments) for the selected date time stamp(s) are included in the EFT file. If multiple date time stamp records are selected, all records will be included in the same file. A list of data from the last ten check runs is displayed in the grid.|
 ^Pre-Note|If selected, all vendors with **PreNote** selected on the Maintenance > Vendor Information > Vendor Miscellaneous tab are included in the file. The file is sorted by vendor number. After the prenote file is generated, the **PreNote** field is cleared. | ^Pre-Note|If selected, all vendors with **PreNote** selected on the Maintenance > Vendor Information > Vendor Miscellaneous tab are included in the file. The file is sorted by vendor number. After the prenote file is generated, the **PreNote** field is cleared. |
-^Effective Date|Type the effective date for the EFT file in the MMDDYYYY format.|+^Effective Date|Type the effective date for the EFT file in the MM-DD-YYYY format. This is the date that the bank will transfer the funds to the vendor's bank.| 
 + 
 +VCV Click **Create EFT File** to create the EFT file. If **Pre-Note** is selected, the Finance EFT Pre-Note Report is displayed with a zero transaction. Otherwise, the Finance EFT Report is displayed with a list of transactions to be processed. [[general:printreport|Review the report.]]  
 + 
 +VCV Click **Process** to proceed. A dialog box is displayed with a preset File name.  
 +  * If **Finance** is selected, the Finance_EFT_MMDDYYYY.txt file is generated with the actual EFT payments for each vendor. 
 +  * If **Pre-Note** is selected, the Finance_Prenote_MMDDYYYY.txt is generated for those vendors with **Pre-Note** selected on their bank information record.
  
-^Create EFT File|{{page>general:create_eft}}| +<div indent>You can type a different name for the file and save the file on your computer or network. 
- +</div> 
 +\\ 
 +VCV Click **Cancel** to close the report and return the Create EFT file tab.
  
  
finance/maintenance/eftprocessing/createeftfile.1532456387.txt.gz · Last modified: 2018/07/24 13:19 (external edit)

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