EFT System Introduction

> 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.

Configuring EFT

This task outlines the procedures you should follow to set up your Electronic Funds Transfer system before you begin to process transactions.

Electronic Funds Transfer Setup

Define the Preferences, History and User Defined Fields setup options you require for EFT.

This process enables you to rename the field descriptions for the EFT user-defined fields in the Accounts Payable and Cash book modules. It is not necessary to change the default field descriptions.
Ensure that the option for Check print requirement (Cash Book Setup>) is not set to Not required.

When the option: Not required is selected, then no EFT transactions for Accounts Payable are created for the payment extract (see EFT Payments Extract).

Navigate to the Banks program and indicate the EFT options against the banks from which you want to process EFT transactions.


	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.

Navigate to the EFT Bank Control program and indicate details of EFT bank control information required.

This only applies if you require an XML file to be created and you want to define a global narration for EFT payments.

See XML File Format.
Navigate to the Suppliers program and enable the EFT payments required option against suppliers for whom you want to process EFT transactions.

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

Navigate to the EFT Cash Book Beneficiaries program and define the Cash Book beneficiaries you want to pay directly from the Cash Book module, using the EFT system. These beneficiaries are companies or individuals who are not defined as suppliers in the Accounts Payable module.


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

Navigate to the AP Check Format program and define a document format for EFT remittance advices.

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

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 enabled.

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 and define the remittance advice format for your EFT payments.

This step only applies if you want to print remittance advices.
Optionally set and define the actions for the EFT Payment Extract trigger (Trigger Program Setup).

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.

Processing EFT payments

Processing an EFT payment in the Cash Book

This task describes the steps required to process an EFT transaction for a Cash book beneficiary.

Navigate to the Cash Book Deposits & Withdrawals program and process a Withdrawal transaction.
Use the EFT Cash Book Release Selections program to release the transaction.
Use the EFT Cash Book Payments Release program to release the withdrawal for payment.
Use the EFT Payments Extract program to extract the payment.
Optionally use the EFT Payments Re-extract program to re-extract the payment if required.
Use the EFT Completed Payments program to generate the completed payments report.

Processing an EFT payment in Accounts Payable

This task describes the steps required to process an EFT transaction for a supplier from the Accounts Payable module.

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).
Release invoices (selected by the Release Schedule) for payment, using the Payment Cycle Maintenance program.
Print a list of invoices selected for payment, using the Released Payments Report program.

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


	You must select the EFT payment option.

Print the EFT remittance advices using the Payment Cycle Maintenance program.
Print a register of the EFT payments using the Payment Cycle Maintenance program.
Select the EFT Payments Extract program to extract the payment(s).
Optionally select the EFT Payments Re-extract program if you want to re-extract the payment(s).
Print the completed payments report using the EFT Completed Payments program.

XML File Format

If you selected to create an XML file (EFT Bank Control) 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 (Suppliers) 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 CompanyAddress line in the EftHeader section is your company's address as defined in Company Setup. Similarly, the DeliveryAddress 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>

EFT Period End Processing

There is no procedure for closing the EFT system at the end of the month or year.

You can, however, you can use the EFT Purge program to delete EFT information that is no longer required in the system as and when required.