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finance:maintenance:eftprocessing:createeftfile
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Create EFT File - FIN3700
Finance > Maintenance > EFT Processing > Create EFT File
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).
Note: All fields on the Tables > Bank Codes > EFT tab must be populated. Otherwise, the create EFT file process cannot be performed.
Create an EFT file:
There are two types of EFT file options available on this tab:
| Field | Description |
|---|---|
| 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. |
| Effective Date | Type the effective date for the EFT file in the MMDDYYYY format. |
Click Create EFT File to create the EFT file. Based on the selected EFT file option, either the Finance EFT Report or the Finance EFT Prenote Report is displayed.
Click Process to continue the EFT file process. A dialog box is displayed with a preset (Finance_EFT_mmddyyyy.txt for a Finance file and Finance_Prenote_mmddyyyy.txt for a prenote file) File name. You can type a different name for the file. Save the file on your computer or network.
Click Cancel to close the report and return the Create EFT file tab.
finance/maintenance/eftprocessing/createeftfile.1596554562.txt.gz · Last modified: 2020/08/04 10:22 (external edit)