How to Setup for Direct Deposits

In order to create EFT Files to upload to your bank we need the following information from your bank.

1. Originator ID
2. Originator Long Name
3. Originator Short Name
4. Destination Data Center
5. EFT File Format
6. Financial Institution
7. Transit Number
8. Account Number
9. EFT File Name Information
10. EFT File Sequence information

Once Items 1-7 are collected from the bank or financial institution it must be entered in Deal Manager

 

Step 1 Create an EFT File Sequence

Setup --> System --> Number Sequence --> EFT File Number Sequence

 

Enter The File Sequence information collected from the bank into the form that opens.

 

Step 2 Enter all above information collected into the Bank Account in Deal Manager.

Accounting --> Accounts 

 

Open the Chequing account that you are transferring fund from using the action menu of the grid.

Click on the Banking Information tab and enter all of the above information collected

 

You can also select a folder you would like the files to be saved.

In the location field, simply browse for a folder, choose a folder and hit ok.

 

Step 3 Create a Pending EFT Account

Setup --> Accounting --> Accounts --> Pending EFT

 

Choose and account number and enter the following information in the form below

Fund =General or Commission

Group2 = Current Assets

Group3 = Cash & Bank

Number = Number of your choosing

Name = Pending EFT

 

Step 4 Create a new Outgoing Payment Method

Setup --> Accounting --> Outgoing Payment Method

Click on the new button and choose Direct Deposit Payment Method

Enter the following information into the form below.

      Fund= General/Commission

      Description = Direct Deposit or something similar

      Account = Your Bank Account you are transferring funds from

      Clearing Account = New Pending EFT account created in Step 3

      To Be Printed should be clicked.

 

Step 5 - EFT Cheque Stub Setup

 

Setup --> Accounting --> Cheque Printing

 

When the Form opens it should be filled out like the image below

          Fund = General/Commission

          Payment Method = Direct Deposit

          All Cheque setups should be enabled

          Cheque Layouts = EFT or EFTChqStub for all enabled

          Overflow Layout = Default for all enabled