Electronic Transfer File

Is the file that the system creates in "NACHA" format?

Yes.

What is the difference between file date and settlement date?

The file date is the date that the information is transmitted to the bank. Settlement date is the date the money changes hands. Settlement date cannot be less than two days after the file date.

What date in my computer does the system use for determining the electronic payment file dates?

For these functions, the system date (maintained by the Windows operating system) is used.

If you are using the software for transmission, will it delete the file that is created after it has been transmitted?

No. However, if you do not change the name of the file the next time you create an electronic payment file, the system will overwrite the previous file with the new information.

Can we calculate our electronic payments more than 2 banking days before we send the file to the bank?

Yes. Use the Settlement date when the file is sent to determine when the bank should transfer the funds.

What path should I use for the electronic payment file when I am creating it?

Although you can use any path that you want, we suggest creating the file in the EpayAP folder (subdirectory). It is located in the MIP Share folder on the root of the C drive at the server.

How do I create an electronic payment file and give it a new name?

Create the file and enter the desired path and name using Activities>Accounts Payable>Create/Send A/P Electronic Payments.

When I attempt to transmit our electronic payment file to the bank, I receive a "no carrier" message when attempting to connect with the bank. I have connected with the exact same settings before. What is wrong?

Re-check the modem settings and try again later. "No carrier" means that the modem and the bank are unable to establish a connection. Sometimes the bank communication lines are busy and cannot accept your connection at that time.

Beyond the obvious, are there any other differences between using MIP to send my electronic payment file to the bank and sending it with a third party application?

While we provide a communication package with the EFT for A/P module, its use is not mandatory. You may already have another software provided by the bank to transmit the files.

If you do not use the communications package sent with the EFT for A/P module, we will not be able to verify that the bank accepted the file.

Thus, if the bank rejects a file, you will either have to manually "fix" the .TXT file or void the vouchers and run Activities>Accounts Payable>Pay Selected A/P Invoices and Create/Send A/P Electronic Payments again.

If the communications portion of the module is used and the file is rejected, we will roll back all the records in the file to enable you to create and send the file again.