Setting Up Your Electronic Funds Transfer Option
If you select
EFT Format 1 from the
Electronic File drop-down in
Module Preferences, you need to set up EFT information so Denali’s electronic file will work with your EFT for Windows© software. If you select EFT Format 2, you can generate the file and send it directly to your bank; you do not need additional setup.
Before you can
send electronic payments to your vendors, you need to gather bank account numbers for each vendor to whom you will make EFT payments.
You’ll need to enter a code of up to three characters for each bank account you will use for electronic transfers in your EFT software. The EFT account codes you set up in Denali need to correspond to the account codes you enter in your EFT software.For questions about this setup, refer to the documentation that came with the EFT software.
If Accounts Payable is not integrated to Bank Reconciliation:
• If you want to establish a default EFT Account Code to use for all vendors, enter a default account code on the
General tab of the
AP Module Preferences window.
• If you want to establish a default account code for each AP Code, leave the code in Module Preferences blank and enter the default EFT Account Code in the
AP Codes window.
• If you want to use an EFT Code different from a default you established or you want to enter an EFT Account Code for each vendor, enter the account code on the
Remit To tab of the
AP Vendors window for each vendor you’ll pay electronically.
If Accounts Payable is integrated to Bank Reconciliation, the
bank account associated with the AP Code for each vendor will be automatically used, but you can change it on the
Remit To tab in the
AP Vendors window if necessary.
Once you set up your EFT software, establish EFT account codes in Denali, and process
bills or
payments, you can
generate the EFT output file.
Published date: 12/03/2021