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general:vendoreftprocess_createeftfile
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Create EFT File
Finance > Maintenance > EFT Processing > Create EFT File
Create the EFT file. The file is then given to the local education agency's (LEA) bank to be transmitted to an automated clearing house (ACH) as a request to electronically transfer the payment to the vendor.
The File Type defaults to Finance.
| Field | Description |
|---|---|
| Finance | When 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. |
| 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. |
It is recommended to set the Effective Date to allow the bank one to two days to process the file (similar to Payroll EFT dates). You should not enter the actual day you are running the checks/EFT unless your LEA has a special arrangement YOUR bank.
❏ Select the appropriate check run. Notice the check number assigned will begin with an “E” for EFT.
❏ Click Create EFT File to create the EFT file. The Finance EFT Report is displayed with a list of transactions to be processed. Click 
to print the report prior to processing.
❏ Click Process to proceed. A dialog box is displayed with a preset File name. The Finance_EFT_MMDDYYYY.txt file is generated with the actual EFT payments for each vendor.
Your EFT file is ready to be emailed to your EFT bank contact or your LEA's preferred method of handling EFT files.
The next morning at 6:00 AM, ASCENDER generates an email that is sent to the vendor notifying them that an EFT payment (deposit) has been issued to their bank account. The system uses the vendor's EFT email address from the Vendor Name/Address tab.
general/vendoreftprocess_createeftfile.1698682087.txt.gz · Last modified: 2023/10/30 16:08 by emoreno