Recording EFT transactions

How do I record a transaction that I can subsequently process as EFT?

Before you can process an EFT transaction, make sure you have:

• Entered Your bank account/EFT Details in Cashbook. Click on the link: Setup Your Bank Account Details for EFT Processing.
• Entered bank account/EFT Details for each supplier in Cashbook. Click on the link: Setup Supplier Account Details for EFT Processing.
• Entered bank account/EFT Details for each employee in Cashbook (if applicable). Click on the link: Setup Employee Bank Account Details for EFT Processing.

To add an EFT transaction to Cashbook:

Step 1 -

• Click on the Cashbook toolbar icon.
• Select the required bank account from the Selected Bank drop down menu.
• Click on the Add button.

Step 2 -

• Click Yes to the Confirm message: 'Do you eant to enter transactions for "your bank account", in company file "your company name"?

• Enter payment transaction as usual. (i.e. Date, Reference, Paid To, amount, etc.)
• In order for these to form part of the electronic payment file, you also have to:
  • Tick the EFT File check box.
  • Enter a Payee Reference. (This is usually your account number with the supplier, and/or an invoice number.)
  • Note: A payee is a person or businees entity receiving a payment. A Payee Reference is sent to the recipient (the payee) to assist them in identifying your payment to them.
• Click OK to save.

• This transaction is now available for EFT Processing.