> EFT System Introduction

EFT System Introduction

SYSPRO's Electronic Funds Transfer module (EFT) is designed to allow for electronic payments to be processed for Accounts Payable suppliers and user-defined Cash Book beneficiaries.

The final output is an XML file (if required) that can contain combined EFT information for both Accounts Payable suppliers and Cash Book beneficiaries.

The XML file is used by 3rd party software developers to generate the information in the format required by a specific bank. Alternatively, 3rd party developers can interrogate the SYSPRO EFT data files directly to extract the information required by a bank.

The EFT system includes a trigger program which can be used to interrogate the XML file or the SYSPRO EFT data files directly for the required bank information.

A custom form option enables the entry of additional information against suppliers, beneficiaries and banks. All information captured in custom forms is output to the XML file. These custom forms are useful if a bank requires additional information (e.g. pertaining to a batch of EFT payments) which is not catered for by the standard EFT fields.

Alternatively, custom form data could be used for internal information purposes only. In addition to the custom forms, user defined fields have been created enabling the entry of additional information against Accounts Payable suppliers and Cash Book beneficiaries.

The amount of information that can be entered and exported from the EFT system means that it should cater for the requirements of banks in any country.

Operator activity and field security can be set against relevant EFT fields and actions. A full audit trail, numerous reports and query facilities enable users to interrogate the status of EFT transactions.

XML File Format

If you selected to create an XML file (Browse on Banks), then an hierarchical XML file is created in the path you defined.

This file can contain combined EFT information for both Accounts Payable suppliers and Cash Book beneficiaries and is used by a 3rd party software developer to generate the information in whatever format is required by a bank.

Sample XML File

Below is a sample of the XML file that is created for EFT transactions.

The email address defined against the supplier (Supplier Maintenance - Purchasing tab) is entered in the EFTEmail field of the XML file by the EFT Payments Extract and EFT Payments Re-extract programs. If this email address is deleted after running the EFT Payments Extract program, no email address is written to the XML file created by the EFT Payments Re-extract program.

The Company Address line 1-3 in the EftHeader section is your company's address as defined in (Company Maintenance). Similarly, the Delivery address is your company's delivery address.

The SupRemit fields are the remittance name and address for Accounts Payable suppliers and are only applicable to EFT payments for AP suppliers.

              
<?xml version="1.0" encoding="Windows-1252"?>
<EftPayments>
  <EftHeader>
    <EftBatch>1EF0000000</EftBatch>
    <LastSequence>001</LastSequence>
    <ActionDate>2012-12-20</ActionDate>
    <OriginalRunDate>2012-12-20</OriginalRunDate>
    <ReRunDate/>
    <Bank>FB</Bank>
    <Description>First United Bank</Description>
    <PostCurrency>$</PostCurrency>
    <BankCurrency>$</BankCurrency>
    <LocalCurrency>$</LocalCurrency>
    <Operator>Moniq</Operator>
    <EftXmlExtractType>By Supplier</EftXmlExtractType>
    <EftGlobalRef>EFT Payment</EftGlobalRef>
    <CompanyAddressLine1>P O Box 777</CompanyAddressLine1>
    <CompanyAddressLine2>Great Outdoors</CompanyAddressLine2>
    <CompanyAddressLine3/>
    <DeliveryAddressLine1>15 West Street</DeliveryAddressLine1>
    <DeliveryAddressLine2>Great Outdoors</DeliveryAddressLine2>
    <DeliveryAddressLine3/>
    <BankAccount>541762315</BankAccount>
  </EftHeader>
<EftDetails>
    <SupplierDetail>
      <SupplierNumber>      1</SupplierNumber>
      <Supplier>000000000000016</Supplier>
      <SupplierName>Splash Paints</SupplierName>
      <SupplierChName>Splash Paints</SupplierChName>
      <TrnSource>CB</TrnSource>
      <CurrencyValue>           500.00</CurrencyValue>
      <PaymentValue>           500.00</PaymentValue>
      <EftStatementRef>EFT Payment</EftStatementRef>
      <CreditLineCATS/>
      <CreditLineNED/>
      <EftEmail/>
      <BankBranch>North</BankBranch>
      <BankAccount>457 154 36952</BankAccount>
      <EftBankAccType>1</EftBankAccType>
      <Currency>$</Currency>
      <SupAddr1>P O Box 748562</SupAddr1>
      <SupAddr2>Northern Suburbs</SupAddr2>
      <SupAddr3>North</SupAddr3>
      <SupAddr4/>
      <SupAddr5/>
      <SupPostalCode/>
      <SupRemitName/>
      <SupRemitAddr1/>
      <SupRemitAddr2/>
      <SupRemitAddr3/>
      <SupRemitAddr4/>
      <SupRemitAddr5/>
      <SupRemitPostalCode/>
      <Truck/>
      <Route/>
    </SupplierDetail>
  </EftDetails>
  <EftTotal>
    <TotalSuppliersPaid>           1</TotalSuppliersPaid>
    <TotalCurrencyValue>           500.00</TotalCurrencyValue>
    <TotalPaymentValue>           500.00</TotalPaymentValue>
  </EftTotal>
</EftPayments>

Configure EFT

The following steps are required to configure the EFT system for processing EFT payments.

  1. Define the EFT setup options using the EFT Setup program.

  2. Activate EFT payments by bank using the Banks program.

  3. Ensure that the selection for Check print requirements (Accounts Payable Setup - General tab) is not set to Not required. If the option: Not required is selected, then no EFT transactions for Accounts Payable are created for the payment extract (see EFT Payments Extract).

  4. Define a document format for EFT remittance advices using the AP Check Format program.

  5. Activate suppliers for EFT payments using the Supplier Maintenance program.

  6. Define Cash Book beneficiaries using the Browse on EFT Cash Book Beneficiaries program.

  7. Optionally set and define the actions for the EFT Payment Extract trigger (Trigger Programs).

    This trigger can be used to assign actions that can be executed automatically each time an EFT payment batch is created using the EFT Payments Extract or EFT Payments Re-extract programs.

    This means that each time a payment batch is created, the 3rd party translation software can interrogate the XML file or the SYSPRO database directly and create the required file(s) for the bank.

Define the EFT setup options

This process enables you to rename the field descriptions for the EFT user-defined fields in the Accounts Payable and Cash book modules.

In addition, it enables you to define your requirements for EFT beneficiary amendment journals.

  1. From the SYSPRO menu, select Setup, select Financial Setup and then select the EFT Setup program.

  2. From the General tab, select the beneficiary amendment journal options you require.

  3. From the User defined tab, enter the field descriptions you require.

    [Note]

    It is not necessary to change the default field descriptions.

  4. Select the Save function to save your selections.

Activate EFT payments by bank

This process is required to activate a bank for EFT payments.

You will need to follow this process for each bank from which you want to process EFT transactions.

[Note]

You need to activate the bank(s) from which you want to process EFT payments before you can define cash book beneficiaries for the bank(s) and before you can activate suppliers for EFT payments.

  1. From the Cash Book menu, select the Browse on Banks program.

  2. Enter the bank code from which you want to process EFT payments.

  3. Select the option EFT payments required.

  4. Select the other EFT options your require.

  5. Select the Save function.

  6. From the Browse on EFT Bank Control screen displayed select the XML output options you require and enter a path for the XML file. This screen also enables you to enter a global statement narration for EFT transactions.

    [Note]

    If you do not require an XML file to be created and you do not want to define a global narration for EFT payments, then you need not make any selections on this screen. Simply use the Close function to return to the Browse on Banks screen.

Define a document format for EFT remittance advices

This process enables you to define the document format for remittance advices for EFT payments.

[Note]

The system defaults to using the same remittance advice document format for EFT payments as is used for check payments.

If you have defined a remittance advice format for checks and you want to use the same format for EFT payments, then you may skip this process.

You may also skip this process if you do not want to print remittance advices.

  1. From the Accounts Payable setup menu, select the AP Check Format program.

  2. If you want to use the same document format for EFT payments as you use for check payments, then make sure the option Same as check remittance is selected.

    If you want to define a different remittance advice document for EFT payments to the one you use for check payments, then select the option Separate remittance for EFT. Define the remittance advice format for your EFT payments.

Activate suppliers for EFT payments

This process is required to enable you to pay selected suppliers using the EFT system.

You need to complete the process for each supplier you want to pay via EFT.

  1. From the Accounts Payable setup menu, select the Supplier Maintenance program.

  2. Enter the supplier code of the supplier you want to pay via EFT.

  3. Navigate to the General Details pane.

  4. Set the option EFT payments required to Yes.

    If a custom form with mandatory fields is defined for EFT suppliers, then you need to complete the custom form.

  5. Select the Save function to save the information you entered for the supplier.

Define Cash Book beneficiaries

This process enables you to define EFT beneficiaries who will be paid directly from the Cash Book. These beneficiaries are companies or individuals who are not defined as suppliers in the Accounts Payable module.

[Note]

Before you can define cash book beneficiaries against a bank, you need to activate the bank for EFT payments (Browse on Banks).

  1. From the EFT menu, select the Browse on EFT Cash Book Beneficiaries program.

  2. From the listview of the Browse on EFT Cash Book Beneficiaries program, select Add from the Edit menu.

    Alternatively select the Add icon from the toolbar.

  3. Enter the details for the new beneficiary.

  4. Select Save to save the details you entered.

Process an EFT payment in the Cash Book

  1. Select the Deposits and Withdrawals program to enter the details of the withdrawal.

  2. Select the EFT Cash Book Release Selections program to release the transaction.

  3. Select the EFT Cash Book Payments Release program to release the withdrawal for payment.

  4. Select the EFT Payments Extract program to extract the payment.

  5. Optionally select the EFT Payments Re-extract program if you want to re-extract the payment.

  6. Print the completed payments report using the EFT Completed Payments program.

Process an EFT payment in Accounts Payable

  1. Run the AP Release Schedule program for the system to select invoices for payment according to the due date and discount date of the invoice (based on the terms code held against the supplier).

  2. Release invoices (selected by the Release Schedule) for payment, using the Payment Cycle Maintenance program.

  3. Print a list of invoices selected for payment, using the Released Payments Report program.

  4. Run the Payment Cycle Maintenance program to pay all invoices that have been released for payment and process manual and void check entries.

    [Note]

    You must select the EFT payment option.

  5. Print the EFT remittance advices using the Payment Cycle Maintenance program.

  6. Print a register of the EFT payments using the Payment Cycle Maintenance program.

  7. Select the EFT Payments Extract program to extract the payment(s).

  8. Optionally select the EFT Payments Re-extract program if you want to re-extract the payment(s).

  9. Print the completed payments report using the EFT Completed Payments program.