Using Instant Electronic Bank Payment File Creation

Depending on your Electronic Bank Payments license, you can instantly generate payment files from payment transactions that have been tagged for electronic bank payment. Use transaction saved searches for retrieving the payment transactions to be processed.

• Electronic Bank Payment Tagging on Payment Transactions

• Defining Transaction Saved Searches for Electronic Bank Payment

• Creating Payment Files from Transactions for Electronic Bank Payment

• Managing Electronic Bank Payment Files

• Generating Bank Files for Vendor Prepayment Transactions

Electronic Bank Payment Tagging on Payment Transactions

Before creating payment transactions for electronic bank payment processing, be sure to set up entity records with bank details and enable any of the following options:

• EFT Bill Payment – on vendor and partner records

• Direct Debit – on customer records

For more information about these required options and other setup procedures for electronic bank payment processing, refer to the Payment Formats topic for your country in Setting Up Payment File Formats.

For considerations when creating payment transactions for electronic bank payment, see Limitations and Considerations for Instant Electronic Bank Payment File Creation.

Electronic bank payment tagging is done using the following boxes on payment transactions:

• For Electronic Bank Payment – on bill payments

• For Electronic Bank Payment (Direct Debit) – on customer payments

If entity records have been set up properly, electronic bank payment tagging is done automatically when you create payment transactions through the following options:

• For entities with electronic bank payments enabled, the electronic bank payment box is checked automatically when you create payment transactions using the Make Payment or Accept Payment option on entity or transaction records.

• Transactions > Payables > Pay Bills (for bill payments)

  Unless you select or set another payment method by default, the electronic payment box is checked automatically when you create bill payments per account, in bulk. For example, if you check the To Be Printed box on the Bill Payments page, the For Electronic Bank Payment box is not checked on the created payment transaction.

• Transactions > Payables > Pay Single Vendor (for bill payments)

  Transactions > Customers > Accept Customer Payments (for customer payments)

  When creating single payment transactions, the electronic bank payment box is checked automatically if you select a payee or customer that has been set up for electronic payment. This behavior is true regardless of your default payment settings. When you select an entity for electronic payment, the For Electronic Bank Payment box is checked and any fields related to your default payment settings are cleared automatically.

On payment transaction records, you can still manually check or clear the electronic payment box. Be aware of the following behaviors:

• To prevent multiple payment processing, the electronic payment box is cleared automatically when you select or enter details in any of the following payment option fields available in your account:

  • On bill payment records: To ACH, To EFT, To be Printed, Check #, and Bill Pay

  • For customer payment records: Select other Payment Methods, Check #, CC Approved, and Charge Credit Card

• In the same way, if you check the electronic payment box, fields for other payment options are cleared automatically.

• On bill payment transactions, the Check # field is initially blank and is populated with the payment file transaction ID during payment file creation.

  Note:

  On bill payment transactions, changing the values in the following fields, including custom fields or validations if you are using a customized form, might clear the For Electronic Bank Payment box automatically: Account, Payee, Currency, and Subsidiary. Be sure to check the box again to continue processing through electronic payment.

  Note:

  The Charge Credit Card box cannot be cleared by default on customer payments, even if the For Electronic Bank Payment box is checked automatically. In this case, however, default credit card information is cleared automatically for electronic payment processing to proceed. You can manually clear the Charge Credit Card box if you want to.

  Note:

  When changing a customer payment record if the Direct Debit box is checked, the For Electronic Bank Payment (Direct Debit) box is checked and undeposited funds are selected for payment.

  When changing the account number, the For Electronic Bank Payment (Direct Debit) box remains checked.

  When selecting the payment method, the For Electronic Bank Payment (Direct Debit) box is cleared.

  Note:

  When creating a bill payment record, by default, the For Electronic Bank Payment box will be checked if the corresponding customer has the EFT Bill Payment box checked.

  When changing the account number, the system will clear the default setting, that is, the For Electronic Bank Payment box is cleared and the Check# field is automatically filled.

Limitations and Considerations for Instant Electronic Bank Payment File Creation

• If your account does not have an active Electronic Bank Payments License, the Company Bank Account list will not include a company bank account that uses the following:

  • A company bank detail record that uses standard templates not based on your account’s country of operation.

  • A company bank detail record that use custom templates.

• Only EFT bill and direct debit customer payments are supported.

• Only payment file templates in FreeMarker syntax are supported. For more information about using FreeMarker syntax on your custom templates, see Working with Advanced Templates.

• You can process up to a maximum of 5,000 payment transactions or less for each payment file. If you exceed the limit, only the first 5,000 transactions are included in the payment file. You can process the remaining transactions in separate payment files.

• When creating payment transactions for electronic bank payment:

  • You must avoid voiding bill payment transactions during electronic bank payment processing. This action currently causes payment file creation to fail, regardless if there are transactions that have not been voided.

  • Accounts selected on payment transactions, especially customer payments, must be the same as the G/L account associated with the company bank record to be used for electronic bank payment. If other accounts are selected, the payment transaction is not processed through electronic bank payment, even if the For Electronic Bank Payment box is checked. For more information, see the setting up company bank records topic in Setting Up Bank Records.

  • As with other payment options, you must assign transactions for electronic bank payment processing to unlocked accounting periods. For more information, see Rules for Future Accounting Periods.

• When In-Transit Payments feature is enabled on the account and approval routing for Vendor Payments preference is turned on (Setup > Accounting > Accounting Preferences > Approval Routing):

  • Only bill payments with status In-Transit are supported.

  • Recreating electronic bank payment files is only available for approved in-transit payments.

  • Reprocess, reverse, and is not supported for in-transit payments.

• To review other limitations for electronic bank payment processing in general, see Processing Payments.

General Notices