Accounting Finance:Electronic Fund Transfer-Manual Customer EFT

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Overview

All EFT customers are balance forward statements which mean they will have statements which only show current transactions and past transactions are in the opening balance. The system will automatically settle the EFT during the Auto Cash process to the oldest invoice/credit note and will post any applicable discounts. Upon request, you might have to run a manual EFT which is not part of the usual 10th and 25th EFT batches. This is required as an 'one off' request in which a customer has requested an EFT to be run earlier/later than the usual 10th and 25th or if the original EFT did not go thru and therefore a manual EFT is required.

Updating EFT Worksheet

In order to upload an EFT file to the bank, the file number must be in sequence and there should be no duplicate numbers. Therefore, you should first update the worksheet to obtain the next Run ID number.

  1. Go to CIBC-0100033237-0100023576- Upload Batch Control Log File
  2. Click either EFT-Credits or EFT-Debits sheet
  3. For credits there will only be one Run ID but for debits, there will be two Run IDs (first Run ID is blank)
  4. Enter the next Run ID
  5. Enter Date
  6. Enter Detail (i.e. Store and account number)
  7. Enter the EFT amount under Stmt Balance
  8. Enter any discounts under discount
  9. Enter Handler

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Set-up Manual EFT

  1. Goto UWD Extensions→1 UWD Extenstions→7 STM -- Statements→11 View Statement Control Periods
  2. Enter Type EF
  3. Enter Statement Period (Run ID - next number from your worksheet)
  4. Press Enter
  5. Press F6
  6. Enter Statement Type EF
  7. Enter Period ID (next number from your worksheet)(If it is a EFT debit, please use the period ID for the EFT debit as the import file, as the system will use one period ID for EFT credit in order to reach EFT debit)
  8. Enter Start and End Dates (Eg. SEP 25 20)
  9. Enter Run Type M
  10. Enter Timing NA
  11. Enter Status FI
  12. Press Enter
  13. Press F12 twice

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Create Manual EFT

  1. Enter 11 (View Statement Control Periods)
  2. Press Enter
  3. Enter Statement Type EF
  4. Enter Period ID
  5. Press Enter
  6. Enter EE next to batch
  7. Press Enter
  8. Press F6
  9. Enter Customer
  10. Enter A/R Payment Mode EFT
  11. Enter System EFT Amount
  12. Press Enter
  13. Press F12 twice
  14. Enter EP next to batch
  15. Go to Work with Printer Output, highlight printout, click Change, page-down, enter lp05, tab, delete library. and press Enter twice.

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Post Manual EFT

EFT Credit

  1. Enter EC next to batch (to export EFT Credit - if not an EFT credit, nothing will process)(Note: Make sure the EFT credits are correct before running EC)
  2. Press Enter
  3. Enter document date (today's date if the credit has to go through immediately <- generally the case. Does not have to be the same as the start date)
  4. Press Enter
  5. Enter Voucher type 27
  6. Enter Document type EFT
  7. Enter Identity PY
  8. Change printer queue lp05
  9. Press Enter (if not an EFT credit, the message Identity PY does not exist in payment file)
  10. Press F12
  11. Enter E1 next to batch
  12. Enter date
  13. Press Enter
  14. Email manager for approval to process the EFT Credits. Attach the following documents, (1) cover page of EFT Credits portion from Payment Reconciliation worksheet, (2) Customer Statement Summary of EFT Credits (which is generated after running report of EFT < 0 report), and (3) GCFP852 report (which is generated after EC1 have been completed in mocha, look for file printout in Work with All Spooled Files for the report).

EFT Debit

  • You do not have to continue if you are only processing an EFT credit.
  1. For EFT debit, enter ED next to batch
  2. Press Enter
  3. Enter document date
  4. Press Enter
  5. Enter Voucher type 27
  6. Enter Document type EFT
  7. Enter Identity PY
  8. Change printer queue lp05
  9. Press Enter (if not an EFT credit, the message Identity PY does not exist in payment file)
  10. Press F12
  11. Enter E2 next to batch
  12. Enter date
  13. Press Enter

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Forward Document to be uploaded to Bank

  1. Place an EFT Authorization sticker on top of all the documents.
  2. Date and sign the submitted portion of the sticker.
  3. Forward to Manager, Finance
  4. The Manager, Finance will uploaded the EFT batch to CIBC and obtain a second authorization signature.
  5. The Manager, Finance will print confirmation EFT sheet and staple to batch and file in storage box.
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