Electronic Funds Transfer - Bank Tab

Access this tab with Administrative user rights using Organization>Set Up Modules>Electronic Funds Transfer.

Use this tab to enter bank information—Routing Number, Bank Name, and Immediate Destination.

Contact your financial institution to set up the proper information and complete the appropriate documentation before using the module. They provide the bank ID, password, telephone number, script commands, and an ID number to identify your organization. This ID is used in several places throughout the system.

 

Routing Number: Enter the bank's routing number, including the check digit, for the account being accessed.

Bank Name: Enter the name of the financial institution handling your organization's account.

Immediate Destination: Enter the routing number for the ACH Operator (such as Federal Reserve Bank) receiving the file. Your bank supplies this information.

Discretionary: Some banks require that you provide Company Discretionary Data in your ACH file transmissions (if this does not apply to your bank, then this field is optional). Your bank determines what information should go in this field (see your bank's NACHA file specifications), and individual banks decide if the description is displayed on the recipient's statement. This field is limited to 20 alphanumeric characters - spaces count as characters.

Note: The information entered in this field populates the Batch Header Record position 4 in the ACH file transmission.

Check Boxes

Same Day Clearing: Check the box to enable same day ACH clearing. The default is unchecked.

Include Filler Records: When checked, the 10 filler records are included when the block count is divisible by 10. When not checked, the 10 filler records are not included when the block count is divisible by 10. The default is unchecked.

To display a warning message every time the system is opened and there is a file that has not been transmitted, select the "Warn if Direct Deposit File not sent" check box on the Payroll>Options>Customize Workstation Settings>Alerts tab.
To display a warning message every time Accounting is opened and there is a file that has not been transmitted, select the "Warn if A/P Electronic File not sent" check box on the Options>Customize Workstation Settings>Alerts tab.