Posting Electronic Funds Transfer Transactions

  1. Open the A/P EFT Posting form.
  2. Specify this information:
    Vendor Starting/Ending
    Select the range of vendors to include in the utility.
    Pay Date Starting/Ending
    Select the range of dates to use in the utility.
    Name Starting/Ending
    Select the range of names to include in the utility.
    Bank Code
    Select the bank code for the transactions that you are processing.
    Sort By
    Select the method to use to sort the report: name or number.
  3. Before posting, to print and review this report, select A/P EFT Posting Report. This option produces a list of the EFT payments to be posted. Note that the grid shows the list of items to be posted.
  4. After printing the report, to begin the posting process, select Final Register and Post.

    This step also creates the EFT payments output file, using information from EFT fields in the Accounts Payable Parameters form. These actions are performed:

    • Writes the file in the format specified by the EFT Format field.
    • Writes payment records to this file, which has an incrementally numbered file name (continuing from the number in the Last EFT File field).
    • Places the file in the directory specified in the EFT Directory field.
    • Creates the EFT Output File Report. This report logs all output EFT records.

    When you post an EFT payment and distribution, a Bank Reconciliations record stores the payment. The system marks the record as Not Voided.

  5. If the Remittance Advice option is selected for EFT on the Accounts Payable Parameters form, you must also select Print Remittance Advice.