Accounting Finance:Electronic Fund Transfer-Manual Customer EFT

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 a '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.

Entering Manual EFT into A/R

Click Cash Management→AR Cash Management Tasks→AR Payment Tasks→Enter Financial Transactions
Enter Voucher type (20)
Enter Batch amount
Press Enter

9. Enter Document type (VT)

10. Enter Document number

11. Enter Document date (use date on notification)

12. Enter Debtor number

13. Enter Transaction amount

14. Press Enter

15. Enter Transaction ref (payment # entered will be more visible in cashbook reconciliation)

16. Press Enter

17. Enter Doc no and press Enter after each document entry OR

Click Settlement Diff (this option allows you to enter any differences to a specific account (ex. discount)) OR

Click Fnc list and 21 (this option allows you to post the unsettled portion of the payment to the account) OR

Click Maintain item settlement (if the store does not take discount, change the paid amount trans to what it was before discount and delete the discount amount)

18. Press Update when completed