EFTXpress: Streamline EFT Processing and Bank Reconciliation

2. Overview EFTXpress is an add on product which enables Cashbook users to select EFT as a Cashbook batch type. During posting of the EFT batch an EFT file is generated in the specific format your bank requires to process the EFT payments.Once your bank has processed the EFT payments, EFTXpress imports the Reference Numbers generated by your bank. EFTXpress will match these payment entries to the EFT transactions in the Cashbook and update the Reference Numbers in the Cashbook Bank Reconciliation to facilitate reconciliation to your bank statement. The list of bank formats available for EFTXpress is increasing all the time as more and more users provide Peresoft with their EFT bank formats to take advantage of the new EFT functionality. Consult the Bank Formats Available for EFTXpress list to see which bank formats are available. Provide us with your EFT bank format and we will add it to the list of formats already available. 

3. From the Bank Format drop down list you can select your bank format. Consult theBank Formats Available for EFTXpress list to see which bank formats are available.If your bank format is not on the list Peresoft will develop it for you. EFTXpress Bank Setup

4. EFTXpress requires additional information for Vendors and Customers depending on which bank format you are using.You are able to enter additional information for multiple banks for each Miscellaneous Code.To link a Miscellaneous Code to an existing Vendor or Customer, use the same Vendor or Customer number that you used in ACCPAC Accounts Payable and Accounts Receivable. When creating an EFT batch and entering the Vendor or Customer number in Batch Entry, Cashbook will retrieve this information from the CB Miscellaneous Codes table. Setup Miscellaneous Codes for EFTXpress

5. An extra batch type is now available called EFT Batch. Use this batch type to create an Electronic Funds Transfer file to submit to your particular bank for processing. Creating an EFT Batch

6. Security Rights on Vendor Payment Information Security Rights on the EFT Tab in Miscellaneous Codes where Bank Account Payment information for the Vendor is setup.

7. EFT Bank Audit Audit List in C/B Register Reports to print any fields that have been modified in the EFT Tab of Miscellaneous Codes where Bank Account Payment information for the Vendor is setup.

8. Re-generate EFT file for posted EFT Batches Re-generate an EFT File from a posted EFT Batch in Batch List. Useful if you need to update the Account Payment information for a Vendor without having to repost the EFT batch.