Step 1.  To Process EFT Transactions:

1. Click on the  Chart   toolbar option
2. Click on the  Banks  tab
3. Click on the relevant bank account so it is highlighted blue, then click on the   Edit  button (or double-click on the relevant bank account)
   

• Fill in the bank  EFT Details :
  
• Payer Name  - name that appears on your bank statement
• BSB Number
• Bank Account No.
• EFT Number
• Select the appropriate  Bank Software Package  from the drop-down list. e.g. CBA Netbank  
  

  Note: This will automatically select the required  File Setup  options for that bank
• Click on the  OK  button to save
  

Step 2. Make sure you have entered the supplier bank details:

• Click on the  Creditors  toolbar option,
• Click on the  Suppliers  tab
• Click on the relevant supplier so it is highlighted blue, then click on the  Edit  button (or, double-click on the relevant supplier)
• Click on the  EFT Details  tab
• Tick the  Pay by EFT  box
• Enter the supplier's banking details ( BSB Number  and  Acct # )
  

Step 3. Entering an EFT transaction:

• Click on the  Cashbook  toolbar option
• Select the required bank account from the  Selected Bank  drop down menu
• Click on the  Add  button
• Enter transaction information e.g. Date, Reference, Paid To, Amount  
  
• 

  Note: If you have setup the Supplier correctly the  EFT File  check box will be automatically ticked. The  EFT File  box must be ticked to process this EFT transaction.
  

• You must enter a  Payee Reference . e.g. your client number, your name, an invoice number. This is a message sent to the recipient (supplier), that will appear on their bank statement to assist them in identifying the transaction. (i.e. showing them you are paying your bill and/or what invoice it applies to.)
• Click on the  OK  button to save
  

Step 4. Processing an EFT Transaction:

• Click on the  Transaction s >  Process EFT  menu option

• This will display a list of all payments that have been marked as "EFT" (and have not yet been processed).
• In the Date to be processed by bank  box, set the required date for the transactions to be processed by the bank.
• Tick the  M ark processed transactions as cleared to bank statement  box, if you wish to mark the processed transactions as 'cleared' for bank reconciliation purposes. 
  
• 

  Note: Any transactions dated past the end of the financial year, will not be marked as 'cleared', regardless of this setting.
  
• Right-click in the Pay column next to the relevant transaction/s, so a   appears to include the payments you wish to be made by the bank. (Similarly, right-click to remove the tick and exclude transaction/s.)
• Right-click in the Remit column next to the relevant transaction/s, so a   icon appears, to include those transaction/s you wish to produce a printed or e-mail remittance advice. (Similarly, right-click to remove the print icon and exclude printing.)
• Click on the  Process  button to produce the file - you will be prompted for a file name and destination.  This is the file you will need to import via your banking software e.g. online banking.
  

Note: Payments that are not ticked will not be processed to the current file and will remain on the EFT list for later processing.

Note: To remove a payment from the EFT list (without processing it to an EFT file), tick   the required transaction/s and click the X Remove Items From EFT List button.

 

• Click  Yes  to the following Confirm message:

 

• Select a location somewhere on your computer to save your EFT file (e.g. CBA.aba)
• Click on the  Save  button
  

 

• Click  Yes  to confirm:

 

• Click  OK  to the Information message: ' All transactions updated.'
  

From here you will need to log in to your internet banking website and upload this file for payment.

Article ID 782