Set Up EFT Payments

AptaFund supports electronic funds transfers (EFTs) for Accounts Payable vouchers.

In order to use EFTs, you must

• configure vendors to receive electronic payments

• complete some parameters in Purchasing Configuration, if you're going to use the ACH Data Export

Set up the vendors

1. Select Vendor Management from the Vendor menu, and the Vendor Management window opens.

2. Select a vendor, and click the Edit button, or click the Vendor link, and the Edit Vendor window opens.

3. Complete the Electronic Funds Transfer fields as described. EFTs are available for AP vouchers and Payroll liabilities. Note: In order to change a vendor to an EFT vendor, there can be no unpaid vouchers to those vendors.

   • Routing Number: Enter the bank routing number for the vendor's bank account that will receive the electronic transfer.

   • Pre-Notification: Select Yes if the bank requires pre-notification.  If you select Yes, then this account is prepared for a pre-notification and will change to Complete once the pre-notification is complete. The vendor is paid using a printed warrant one time even if the method of payment isn't Printed Warrant.

   • Account Number: Enter the vendor's bank account number in up to 17 alphanumeric characters.

4. Complete the Payment fields as described.

   • Type: Select Commercial.

   • Method: Select Credit. Note: You must select Credit for EFT payments.

5. When finished, click Save.

Complete the parameters in Purchasing Configuration

While it's likely that many AP payments will be made through bank transfers on the bank’s website, users can generate the ACH Data Export to send to the bank. In order for the export to generate, you must complete the following parameters in Purchasing Configuration > General tab.

• A/P ACH EFT:

• • ACH Operator Name: The name of the ACH operator.

  • ACH Operator Routing Number: The routing number used by the ACH operator.

  • Company ID: The company ID used for the export.

  • Create Balanced File: If yes, complete the offset account number, description, and routing number parameters as described below.

  • District Bank Name: The bank that handles all electronic funds transfers.

  • District Bank Routing Number: The routing number for that bank

  • EFT Header Lines: A semicolon-separated list of header lines for the export (optional).

  • Fill Last Physical Block: Specifies whether the last physical block of the AP ACH EFT export file will be filled with 9's.

  • Offset Account Number: The account number used in the offset row for balanced ACH EFT files.

  • Offset Description: The description used in the offset row for balanced ACH EFT files.

  • Offset Routing Number: The routing number used in the offset row for balanced ACH EFT files.

  • Originating DFI: The originating depository financial institution that acts as the interface between the Federal Reserve or ACH network and the originator of the transaction.

  • Separate A/P EFT Records: A Yes/No box which determines if the records in the export will be separated by a carriage return and line feed character.

Return to Payment Management Overview