How to Set up EFT Payments Within Dynamics GP - Sikich

First check that your GP company is registered for EFT for Payables · Set up your EFT File Format · Set up your checkbooks that you will use for ... ServicesServicesTechnologySolutionsTechnologySolutionsModernWorkplaceERPServicesCRMServicesCybersecurityITandSecurityManagedServicesCloudServicesDigitalTransformationCRMandERPProductsWatchLivestreamsAccounting,Audit,Tax&ConsultingAccounting,Audit,Tax&ConsultingAccountingAudit&AssuranceTaxConsultingServicesAdvisoryAdvisoryBusinessSuccessionPlanForensic&ValuationInsuranceServicesHumanCapitalManagement&PayrollWealthManagementTransactionAdvisoryEconomicDevelopmentRegulatory,Quality&ComplianceInvestmentBankingSupplyChainMarketing&CommunicationsRetirementPlanServicesWorkforceRiskManagementIndustriesIndustriesManufacturingDiscreteManufacturingIndustrialEquipmentManufacturingManufacturingLifeSciencesAgricultureGovernmentContractorsFinancialServicesConstruction&RealEstateNot-For-ProfitGovernmentFederalGovernmentState&LocalGovernmentGovernmentDistribution&SupplyChainProfessionalServicesTitleIVAudit&ConsultingInsightsInsightsCOVID-19ResourcesBlog&ResourcesNewsEventsLessonsFromLeadershipAboutAboutOurCompanyOurPeopleLocationsAwardsPartnershipsCareersContactBackHomeInsightsHowtoSetupEFTPaymentsWithinDynamicsGPHowtoSetupEFTPaymentsWithinDynamicsGPApril10,2019ReadingTime:6minutesShare:ShareonfacebookShareontwitterShareonlinkedinInthisarticleIamgoingtoshowyouhowtosetupEFTforPayablesinDynamicsGPfromtheinitialsetuptoretrievingthefileyousendtoyourbank.Thiswillinclude:RegisteringforEFTPayablesSettingyourcheckbooksupforEFTpaymentsSettingyourvendorsupforEFTEmailingremittancestoyourvendorsGeneratingactualEFTfilesandemailingremittancestovendorsFirstcheckthatyourGPcompanyisregisteredforEFTforPayables(Administration>Setup>System>Registration)MakesurethattheEFTPayablesboxischecked.Ifnot,selectitandclickOK.SetupyourEFTFileFormat(Financial>Cards>EFTFileFormat)ThisiswhereyousetuptheEFTfileformataccordingtothespecificationsofthebankyouuse.Youwillneedtogetthisinformationfromthebank,whichwilltellyouwhatfeaturesyouneed.Typically,youcanuseoneofthedefaultonesinGP,butyoucancreateacustomizedoneunderUser-DefinedinFormatType.US–NACHAPPDandPPD+areintendedforpaymentstoindividuals/personalcheckingaccounts.US–NACHACCDandCCD+areintendedforpaymentstoorganizations/corporateaccounts.Youcaneditthedescriptionsforeachline,butrememberthatyouwillbetheonlyonethatseesthat.Toseewheretheinformationispullingfrom,clickthedoublearrowintheright-handcornertoseetheGPfieldsbeingusedintheformatortotypeinauniquevalue.SetupyourcheckbooksthatyouwilluseforEFTpayments(Financial>Cards>Checkbook)IntheCheckbookMaintenancewindow,selectaCheckbookIDandclickEFTBank.IntheCheckbookEFTBankMaintenancewindow,enterthebankinformationrelatingtothatcheckbook.Afteryou’veenteredthebankinformation,clickPayablesOptions.SelectanEFTFileFormatunderSingleFormatandyourEFTPaymentNumberchoice.SelecttheEFTFileformatthatyoucreatedearlier.IrecommendselectingEFTnumbersasitmarksacleardifferenceinyoursystem.SelectfilelocationsforprenoteandEFTACHoutput.(Hint:Sometimesaddingspaces,characters,orperiodscangiveyouanerrormessagewhengeneratingfilessotrytoavoidthose!)YoucanclickGeneratePrenotestotesttheoutput.SetupforEFTVendors(Purchasing>Cards>Vendor)SetupthevendorsyouwouldliketopayviaEFTfiles.ClickontheblueunderlinedRemitTotoupdatetheaddresstoincludeEFToptions.ClickEFTBankintheright-handcorner.EnterthenecessarybankinformationfortheEFTtransfer.MakesuretheCurrencyIDandBankCountrymatchwiththevendorandcheckbook.ClickOKinthiswindowandthenSaveintheVendorAddressMaintenancewindow.RepeatthesestepsforeveryvendoryouwouldliketopayviaEFT.ConfigureEmailandEmailedRemittancestoVendorsNowlet’ssetupemailremittances(DynamicsGP>Tools>Setup>Companies>EmailSettings).ClicktheformatsyouwouldliketoallowthenselectPurchasingSeries.InthePurchasingEmailSetupwindow,checkenableatthetopofthescreenandthenClickOKinthiswindowandthenext.OpentheVendorcardyouwouldliketoconfigureemailfor(Cards>Purchasing>Vendor).ClickontheWorldbuttonnexttotheAddressfieldtoopentheInternetInformationwindow.TypeyourownemailinthisInternetInformationwindowtotest.YoucanchangethistotheVendor’semailaddresslater.Saveandclosethewindow.Aftersavingyouremail,clicktheEmailbuttonontheVendorcard.IntheVendorEmailOptionswindow,checkthattheVendorRemittanceboxischeckedunderSendFormsasEmailandconfirmtheformatyouwouldlike.ClickOKandthenclickSave.EnterPayablesTransaction(Purchasing>Transactions>TransactionEntry)EnteratransactionentryfortheEFTVendoryoujustsetup.Putinyouramountandthedocumentnumber.Postthattransaction.NavigatetotheBuildPaymentBatch/SelectCheckswindow.EnteranewbatchintheBatchIDfieldandtaboffthefield.ClickAddtocreateanewbatch.SelectEFTforPaymentMethodinthiswindow.SelecttheEFTCheckbook.ClickSave.EnterintheVendorIDrestrictionandclickInsert.ClickBuildBatch.ThedollaramountofopeninvoicesforthatvendorshouldpopulateintheBatchTotalfield.ClicktheEditPaymentBatchbutton.Taboffthefieldtoseeallopenvendors.ScrolldownuntilyouseetheVendorwejustpostedtheinvoicefor.ChecktheboxnexttotheVendorID.Selecttheinvoiceyoujustposted.ClickProcess.Onceyou’vecreatedthebatch,youcanpostitasyounormallywould.YoucanonlyuseVendorsthatyouhavepreviouslysetupasEFTvendors.InthePrintPaymentswindow,youwillseesomecheckfieldsgreyedoutsinceGPknowsnottoprintaphysicalcheck.VerifytheCheckDateandGLPostingDate.ClickProcess.TheProcessPayablesRemittancewindowwillopen.Inthiswindow,youcanprintoremailremittancesordoboth.Toemailremittancestoyourvendors,selecttheRemittanceFormoptionandclickProcess.IfyoudonothavethissetupinGP,thentheremittanceswillprint.ToposttheEFTbatch(whetherornotyouchoosetoemailremittances),youmustselectthePostradialbuttonandthenclickProcess.GeneratingtheEFTACHfile(Purchasing>Transactions>GenerateEFTFile)OpentheGenerateEFTFilewindow.ChoosethecheckbookyouhavesetupforEFTandclickRedisplay.Thenselectthebatchyouhaveposted.ClickGenerateEFTFile.LookforthiswindowconfirmingthatyourEFTfilehasbeengeneratedinthepathyouspecifiedearlierinyourCheckbookEFTPayablesOptionswindow.Nowyoucanbrowseouttothelocationtoseeyourelectronicpayment.Andthat’sit!NowyouhavefullysetupyourGPsystemforEFTpaymentsandknowhowtopayyourvendors!NeedhelpmaximizingyourDynamicsGPsolution?Wehaveateamofexpertsreadytohelp!ThispublicationcontainsgeneralinformationonlyandSikichisnot,bymeansofthispublication,renderingaccounting,business,financial,investment,legal,tax,oranyotherprofessionaladviceorservices.Thispublicationisnotasubstituteforsuchprofessionaladviceorservices,norshouldyouuseitasabasisforanydecision,actionoromissionthatmayaffectyouoryourbusiness.Beforemakinganydecision,takinganyactionoromittinganactionthatmayaffectyouoryourbusiness,youshouldconsultaqualifiedprofessionaladvisor.YouacknowledgethatSikichshallnotberesponsibleforanylosssustainedbyyouoranypersonwhoreliesonthispublication.SIGN-UPFORINSIGHTSJoin14,000+businessexecutivesanddecisionmakersUpcomingEventsExpertPanel:PlanningInsightsForManufacturersMovingtoMicrosoftDynamics365April26@8:00am-9:00amCDTPavingthePathtoIPO:HowtoBuildCompliantFinancialSystemsandProcessesApril28@1:00pm-2:00pmCDTReviewingandDefendingAgainsttheLatestCybersecurityAttacksinManufacturingMay3@8:00am-9:00amCDTViewAllEventsLatestInsightsTechTipstoSpringCleanYourDataApril22,2022TheImpactofInflationonAgribusinessesApril21,2022SevenReasonsforLifeSciencesOrganizationstoChooseSikichApril21,2022ViewAllInsightsAboutTheAuthorElaineFoleyElaineFoleyisaseniorfunctionalDynamicsGPandD365BusinessCentralconsultantinthefirm’stechnologygroup.Elaine’sexpertiseisinthecorefinancialmodules.InadditiontoERPimplementationsandsupport,ElaineassistswithfinancialreportingandotherISVsolutions,includingSolverandJetReports.Sheworkscloselywithclientsonadailybasistohelpanalyzeandreviewcompanyprocessestostreamlineandimprovethebusinessprocedures.©2022AllRightsReserved. PrivacyPolicy DisclaimerWeareusingcookiestogiveyouthebestexperienceonourwebsite.Youcanfindoutmoreaboutwhichcookiesweareusingorswitchthemoffinsettings.AcceptRejectCloseGDPRCookieSettingsPrivacyOverviewStrictlyNecessaryCookiesPoweredby GDPRCookieCompliancePrivacyOverviewThiswebsiteusescookiessothatwecanprovideyouwiththebestuserexperiencepossible.Cookieinformationisstoredinyourbrowserandperformsfunctionssuchasrecognisingyouwhenyoureturntoourwebsiteandhelpingourteamtounderstandwhichsectionsofthewebsiteyoufindmostinterestinganduseful.StrictlyNecessaryCookiesStrictlyNecessaryCookieshouldbeenabledatalltimessothatwecansaveyourpreferencesforcookiesettings.EnableorDisableCookiesIfyoudisablethiscookie,wewillnotbeabletosaveyourpreferences.Thismeansthateverytimeyouvisitthiswebsiteyouwillneedtoenableordisablecookiesagain.EnableAllSaveSettings