Export Payments to a Bank File
When you are ready to make payments to your vendors, or reimbursements to your employees, you can export a file with the payment information on the lines in the Payment Journal window. You can then upload the file to your bank to process the related money transfers.
In the generic version of Finance and Operations, Business edition, a global provider of services to convert bank data to any file format that your bank requires is set up and connected. In North American versions, the same service can be used to send payment files as electronic funds transfer (EFT), however with a slightly different process. See step 6 in the "To export payments to a bank file" section.
Before you can export payment files from the payment journal, you must specify the electronic format for the involved bank account, and you must enable the bank data conversion service. For more information, see Set Up Bank Accounts and Set Up the Bank Data Conversion Service. In addition, you must select the Allow Payment Export check box in the General Journal Batches window. For more information, see Working with General Journals.
You use the Credit Transfer Registers window to view the payment files that have been exported from the payment journal. From this window, you can also re-export payment files in case of technical errors or file changes. Note, however, that exported EFT files are not shown in this window and cannot be re-exported.
To export payments to a bank file
- Choose the icon, enter Payment Journals, and then choose the related link.
- Fill payment journal lines, for example, by using the Suggest Vendor Payments function. For more information, see Suggest Vendor Payments.
- Fill in the fields on the payment journal lines as necessary. Choose a field to read a short description of the field or link to more information.
If you are using EFT, you must select either Electronic Payment or Electronic Payment–IAT in the Bank Payment Type field. Different file export services and their formats require different setup values in the Bank Account Card and Vendor Bank Account Card windows. You will be informed about wrong or missing setup values as you try to export the file.
- When you have completed all payment journal lines, choose the Export action.
In the Export Electronic Payments window, fill in the fields as necessary.
Any error messages will be shown in the Payment File Errors FactBox where you can also choose an error message to see detailed information. You must resolve all errors before the payment file can be exported.
When you use the bank data conversion service, a common error message states that the bank account number does not have the length that your bank requires. To avoid or resolve the error, you must remove the value in the IBAN field in the Bank Account Card window and then, in the Bank Account No. field, enter a bank account number in the format that your bank requires.
In the Save As window, specify the location that the file is exported to, and then choose Save.
If you are using EFT, save the resulting vendor remittance form as a Word document or select to have it emailed directly to the vendor. The payments are now added to the Generate EFT File window from where you can generate multiple payment orders together to save transmission cost. For more information, see the following steps.
In the Payment Journal window, choose the Generate EFT File action.
In the Generate EFT File window, all payments set up for EFT that you have exported from the payment journal for a specified bank account but not yet generated are listed on the Lines FastTab.
- Choose the Generate EFT File action to export one file for all the EFT payments.
- In the Save As window, specify the location that the file is exported to, and then choose Save.
The bank payment file is exported to the location that you specify, and you can proceed to upload it to your electronic bank account and make the actual payments. Then you can post the exported payment journal lines.
To export payments that represent customer refunds
The following describes a work-around for exporting electronic refund payments.
The resulting payment journal lines cannot be posted, deleted, or voided.
- Set up the customer as a vendor. Name it "Customer X for Refunds", for example. For more information, see Register New Vendors.
- On the payment journal line for the customer, set the Account Type field to Customer, and the Document Type field to Refund.
- Perform the normal steps for payment export as described in the "To export payments to a bank file" section.
To plan when to post exported payments
If you do not want to post a payment journal line for an exported payment, for example because you are waiting for confirmation that the transaction has been processed by the bank, you can just delete the journal line. When you later create a payment journal line to pay the remaining amount on the invoice, the Total Exported Amount field shows how much of the payment amount has already been exported. Also, you can find detailed information about the exported total by choosing the Credit Transfer Reg. Entries button to see details about exported payment files.
If you follow a process where you do not post payments until you have confirmation that they have been processed in the bank, you can control this in two ways.
- In a payment journal with suggested payment lines, you can sort on either the Exported to Payment File column or the Total Exported Amount and then delete payment suggestions for open invoices for which payments have already been made and you do not want to make payments for.
- In the Suggest Vendor Payments window, where you specify which payments to insert in the payment journal, you can select the Skip Exported Payments check box if you do not want to insert journal lines for payments that have already been exported.
To see information about exported payments, choose the Payment Export History action.
To re-export payments to a bank file
You can re-export payment files from the Credit Transfer Registers window. Before you delete or post payment journal lines, you can also re-export the payment file from the Payment Journal window by simply exporting it again. If you have deleted or posted the payment journal lines after exporting them, you can re-export the same payment file from the Credit Transfer Registers window. Select the line for the batch of credit transfers that you want to re-export, and then use the Reexport Payments to File action.
Exported EFT files are not shown in the Credit Transfer Registers window and cannot be re-exported.
- Choose the icon, enter Credit Transfer Registers, and then choose the related link.
- Select a payment export that you want to re-export, and then choose the Reexport Payment to File action.