Create an EFT File

EFT files allow you to generate disbursements automatically based on finalized company statements. You can filter statements and select which statements to process. Opt to leave these statements as disbursements or print the checks for them immediately.

Note that you must perform these steps to use an EFT file for Disbursements:

1. Define a bank account to use NACHA as the Default disbursement type in the Transmission File Default Information section and configure the mapping.
2. Confirm that an Import/Export Payment Transmission File exists.
3. Ensure that bank account information has been added on the Payment Method tab in Contact Detail for the account.
4. Add a Disbursement to the client account.
5. Create the EFT File from the Disbursements area by performing the Create EFT File action or by selecting the EFT option during the Batch Process Statements action.

To create and save an EFT file, do the following:

1. Access the Disbursements area.
   1. To access the General Ledger area from the Home screen, do one of the following:

   1. • Click General Ledger on the navigation panel.
      • Click Areas > General Ledger on the menubar.
      • Click the down arrow next to Home on the options bar and select General Ledger.

   To access the General Ledger from another area of the program, do one of the following:

   • Click Home > General Ledger on the menubar.
   • Click the down arrow next to Home on the options bar and select General Ledger.

   2. Click Disbursements on the navigation panel or Areas > Disbursements on the menubar.
2. Do one of the following:
• Click Actions > Create EFT File on the options bar.
• Click Actions > Create EFT File on the menubar.
3. Select the bank account.
4. The Execution Date defaults to the system date but can be changed if necessary.
5. Choose the disbursement Type:
• BACS-DATA: Banks Automated Clearing System
• BACS-RBS: Royal Bank of Scotland
• CHAPS: Clearing House Automated Payment System
• IAT: Inter-Account Transfer
• NACHA: National Automated Clearing House Association
6. Choose your EFT file. This dropdown menu populates based on the Type you selected above.
7. Click Browse. In the pop-up window that displays, select a location in which to save the EFT file and click OK.
8. In the Available Payments section, use the search bar to locate your payment.
9. Select the checkbox for each payment you would like to send. A running count of the number of payments selected and their total amount display below the list.
10. Click Finish.
11. The Save Plain Text File window displays. Update the file name or location for your EFT file if needed.
12. Click Save. You have the option to open the file immediately if you choose.