Setting Up Electronic Funds Transfer for A/P

Electronic funds transfer (EFT) is a common way to process automatic transfer of funds from a company's bank account to its vendors. SyteLine supports various output file formats for submission to third-party EFT transmission systems.

To set up EFT:

1. On the Bank Codes form, specify information about the bank that you will use for EFT transactions. For SEPA format only, specify the business identifier code (BIC) and international bank account number (IBAN).
2. On the Accounts Payable Parameters form, set up the EFT parameters for:
   • EFT format - ALLEFT, BBMEFT, ABAFILE, NACHA, SEPA, CPA, CNAB, or ZENGIN File (JBA).
   • Bank code to use for EFT transactions
   • Directory where the EFT output files will be stored
   • User name and user number (needed only for the ABAFILE format)
   • Destination ID, and Origination ID (needed only for the NACHA and CPA format)
   • Company ID (needed only for the NACHA format)
   • Whether to use the default account (needed only for the CPA format)
   • Registration number (needed only for the CNAB format).

   After EFT processing has begun, this tab also shows the last date an EFT file was created, and the name (number) of that file.

3. In the Remittance Advice area to the right of the EFT parameters, indicate whether you want to print remittance advice after posting EFT transactions.
4. On the Vendors or Multi-Site Vendors form, set up EFT information for the individual vendors. If the vendor's default payment type is EFT, enter the following information (depending on the EFT format you use):
   • For ABAFILE - Enter the bank account, the bank's EFT (sort) number, and the account name.
   • For ALLEFT and BBMEFT - Enter the bank account and the bank's EFT (sort) number.
   • For CNAB - Enter the bank's transit number, transit reference, EFT (sort) number, and the account name.
   • For CPA - Enter the bank account, the bank's transit number, transit reference, EFT (sort) number, and the account name.
   • For NACHA - Enter the bank name, transit number, transit reference, and bank account.
   • For SEPA - Enter the business identifier code (BIC) and international bank account number (IBAN).

For posting steps, see Posting Electronic Funds Transfer Transactions.

Related Topics

A/P EFT Posting

Accounts Payable Steps

EFT Output Files

Posting Electronic Funds Transfer Transactions