Firm Banking Overview

In compliance with The Japanese Bankers Association (JBA), the system provides adherence to the Zengin-Tejun protocol which defines additional data content and file format for Electronic Funds Transfer (EFT).

Use these forms for this feature:

Accounts Payable Parameters - On this form, you can choose the Zengin File (JBA) format in the (EFT) Format field and define the EFT Bank Fee account.

Bank Addresses - On this form, you can specify the Account Holder Name, Account Type, Bank Branch Name, Zengin Bank Code, Zengin Branch Code, and Zengin Account Number.

EFT Bank Fees - On this form, you can define a schedule of bank fees based upon the draft amount for a given Bank Code, EFT Bank Fee Type, and Effective Date.

Vendors - On this form, you can define data necessary for the generation of the Zengin format EFT file. Use these fields: Account Owner Name, Bank Branch Name, EFT Bank Fee Terms, Account Reference 1, Account Reference 2, Zengin Bank Code, Zengin Branch Code, and Zengin Account Number.

Bank Reconciliations - On this form, view the Vendor Check Number in the grid.

EFT Files - On this form, view the transmission status for EFT files.

AP EFT Posting Example

The system provides for the generation of EFT files according to the Zengin (JBA) EFT file format. The process to generate EFT files also records EFT File entries and attaches the EFT file using SyteLine Documents. A/P EFT Posting determines necessary bank fees, records them as Bank Reconciliation detail items, and uses the General Journal to record the journal entry.

Consider this example using a vendor where the agreement for EFT Bank Fee Terms uses Telegraphic transfer, fee borne by Payer. The Zengin Bank Code and Zengin Branch Code values are the same for the vendor bank and the Bank Code on the Accounts Payable Parameters form.

EFT Bank Fees have been defined for the same Bank Code assigned on the Accounts Payable Parameters form according to the data in this table:

The EFT payment is recorded to the vendor in the amount of 2,400.0000. Posting creates journal entries for the AP DIST journal using the same methodology found in base SyteLine and are not reproduced here. Given that the EFT Bank Fee Terms has been defined where fees are paid by the payer, the appropriate fee is determined using EFT Bank Fees data where the Tier Amount is less than the draft amount and then adding values from Charge 1 and Charge 2. In the example, the EFT payment amount of 2,400.00 corresponds with Tier Amount 1.00 for the result of 12.00. The Transaction Date matches the Transaction Date from the EFT Payment record.

The Bank Code on the Accounts Payable Parameters form defines the currency code and cash account.

This journal entry is recorded in the General Journal:

(1) Defined on the Accounts Payable Parameters form.

(2) Defined for the Bank Code on the Accounts Payable Parameters form.

(3) BBB = BankCode, FEE = Literal for FEE type, APP = Literal for AP Payment, VVVVVVV = VendNum

Here are the values from the Bank Reconciliation entry:

Related Topics

Using EFT Bank Fees