Steps to generate EFT output file

1. Create payment file template
   1. Go to payments > setup > payment file templates
   2. Create new payment file template
2. Create company bank details
   1. Go to Payment > setup > Company Bank Details > New
   2. Enter values in company details such as Name, GL Bank Account, Legal Name, Print Company Name,EFT template, File Cabinet Location ID. 
   3. Click Save button
   4. Enter approval routing details under the approval routing subtab.
   5. Enter following details
      1. Select Approval Type based on how approval routing should be triggered. There are 3 options in Approval type:

• Bill Payment – payment amount limit for each bill in a batch
• Vendor Payment – payment amount limit for each vendor in a batch
• Batch Payment – total payment amount limit of a batch payment

2. Payment Limit

Enter the maximum amount that a bill payment, vendor payment, or batch payment can be processed without approval. If the payment exceeds this amount, it is automatically routed for approval.

3. Level

Set the approval level for each payment approver. Start with the level 1 approver.

4. Payment Approver

Select the payment approver for each approval level.

5. Payment Approval Limit

Enter the maximum amount that a payment approver can approve for bill payment, vendor payment, or batch payment.

6. Click SAVE to save the company bank details.

3. Create or edit vendor
   1. Lists > Relationships > Vendor
   2. Create a new vendor or edit existing Vendor

The Subsidiary of the company bank details and the primary subsidiary of the vendor should be the same.

3. Go to Bank payment details subtab
4. Check EFT Bill payment checkbox
5. Save vendor records.
6. Edit the same vendor record
7. Go to Bank payment details subtab
8. Create entity bank details by clicking on the New Bank Details Button

9. Select EFT Template in the Payment File Format field.
10. Enter correct values in fields and Primary in the Type field.
11. Click the Save button to save entity bank details.

4. Create Vendor Bill
   1. Go to Transaction > Payable > Enter bills
   2. Enter the necessary information and create vendor bills for this vendor.
   3. Approve bill

5. Bill Processing
   1. Go to Payments > Payment processing > Bill payment processing
   2. Select company bank details in the Bank account field, it automatically updates the subsidiary 
   3. Select Bank account in A/P Account field which is used in vendor bill.
   4. Bills will display under the transaction subtab
   5. Enter EFT file reference note. 
   6. Click submit button
   7. If the total transaction amount exceeds the approval amount limit, then the transaction goes to the batch process otherwise it goes to payment file Administration.

6.  Payment file Administration
   1. Go to Payments > Payment processing > Payment File Administration.
   2. We can download our file in the file reference field.
7. To approve or reject payment batches
   1. Go to Payments > Payment Processing > Bill Payment Batches.
   2. From the list of payment batches with Pending Approval status, select a payment batch to approve or reject and then review its details.
      1. If you approve the payment batch, the next-level approver is notified to review and approve or reject the payment batch. If there is no next-level approver, the payment batch is queued for processing.
      2. If you reject the payment batch, the user who created the payment batch is notified. The bills in the rejected payment batch are included in the next batch assignment (Saved Search), either manually or through scheduling.
   3. After Approving the payment batch, the transaction goes to payment file administration and we can download the payment template from there.

Reversing Payments

• we can reverse payments if the bank has not yet processed the associated payment file. To reverse the payment process click on the Reverse Payments button on the payment file administration page.
• When clicking on the Reverse Payments button, the page redirects to the Payment reversals page.

• Users can enter REVERSAL REASON, REVERSAL DATE, REVERSAL POSTING PERIOD on this page.
• the user needs to check the select box next to each payment that you want to reverse. If you do not select all payments, partial reversal is applied.
• If each payment has a different reason for reversal, enter the reason in the Reversal Reason column. It overrides any text you previously entered in the Reversal Reason field under Payment Information. After entering values Click Submit. The Payment File Administration form is displayed.
• A new payment file template is created with the remaining payments or deletes the existing payment file if all payments are selected, And the payments are reprocessed. The reverse process voids the selected bill payment, sets the related bill back to open status and creates a reversal journal entry.