EFT processing

Based on a pay-through due date, a batch process selects and extracts open items for payment. If the customer requires pre-notification of this process, then an extracted list of open items are printed for the customer. With the ability to handle exception open items, an electronic fund transfer is executed from a customer's bank to the Receivables solution user's bank. Receivables can accommodate zeros and credit balances that result in a direct deposit versus a direct debit. The open items that are selected for EFT are flagged pending records and are processed from the open item file using the automatic cash application process.