EFT - Electronic Funds Transfer

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The green ball now indicates that we are at the Electronic Funds Transfer step of the pay run, the final step. This step is responsible for generating the bank file containing member bank details and member pay details.

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 There are several points to note on this screen, as can be seen above:

·          The EFT Date field defaults to the period ending date, but this may be changed to another date.

·          The Export Directory field defaults to an export folder, but this may be changed to any folder that the user wishes to save the file to.

·          The Export File Name defaults to the period ending date, but again may be changed to any file name the user wishes, and would typically conform to the naming standards defined by the company’s bank.

·          The ‘See EFT Parameters’ button allows the user to view the bank details of the account from which the member pay will come out from.

Click on the ‘Generate Bank Transfer File’ button to generate the file. A confirmation message is displayed informing the user that the ABA¹⁶ file has been generated.

Click on OK and then click the ‘Close Off Pay Run’ button to mark the pay run as complete. The following screen is then displayed. Click the ‘Close’ button to close the screen. The pay run is complete.