Creating an Electronic Payments File for Online Banking
Activate Electronic Payments
Cashflow Manager also allows you to create an electronic payments file that can be transmitted to your bank if you have that facility.
Note: this is not making payments via BPay or Funds Transfer options offered by your bank. It involves the creation of an electronic payments file that includes multiple transactions that are processed as a batch by your bank. If you do not have this facility and would like to know more, contact your bank. As not all businesses use this facility you must switch this option on to use it.
Click on the [Options] icon on the tool bar at the top of your screen. Select Advanced Preferences and click on the Use Electronic Payments option. Click [Save].
Master Electronic Payments File Details
To make electronic payments you need to record your bank details and information required to communicate electronically with your bank when you create your first electronic payments file.
1. Open the electronic payments module by clicking on the [Electronic Payments] icon on your tool bar.
2. Record your name of your bank account as recorded by the Bank in [Account Name]. Refer to your Bank Statement or your Bank for this information.
3. Your User ID will be supplied by your bank when you apply for Online Banking Approval. Type this in the [User ID] box.
4. The Bank Code is a 3 letter code that identifies your bank. For example, the code for Westpac is WBC. Other valid bank codes are ADL, ANZ, BML, CBA, CBL, NAB and STG. Your bank will advise you of their code when giving you Online Banking Approval.
5. Record the BSB (Bank State Branch) number in the [BSB Number box]. This is a 6 digit number with a hyphen in the middle. Refer to your Bank Statement for this information.
6. Record the number of your account in the [Account Number] box.
7. Some banks require a balancing entry to be included with any electronic payment file. If your bank has this requirement, tick the [Include Balancing Entry] box under the Individual Electronic Payments File Details.
Individual Electronic Payment File Details
These details are recorded for each individual electronic payment file that you create.
1. Record the date on which you want the bank to process your electronic payments in the File Processing Date box. This date can be selected by clicking on the down arrow at the side of the box and selecting the date from the calendar.
2. Record a description of your file in the [File Description] box. For example, if your file includes all wages you may call your file Wages.
Record Electronic Payments
1. Record the payment in Money Out (including a reference number if you require).
2. Right click on the grey selector box at the left side of the transaction row.
To select multiple transactions, click in the grey selector box at the left side of the row for the first cheque, then hold down the ‘Ctrl’ key on your keyboard as you select the others that you wish to include. (If all the cheques you wish to select are together you can also hold down your ‘Shift’ key on your keyboard and click on the first and last.) They will all be highlighted to show they have been selected. Right click on the grey selector box for one of the highlighted cheques to activate the functions.
3. Click on [Add to Electronic Payments] to add the payment to the list to be processed electronically.
4. When you are ready to create your electronic payment file, click on the [Electronic Payments] icon on the tool bar at the top of your screen.
5. Your payments will appear in the order that you selected them in the Payments Record. If you do not wish for a specific transaction to be included, click on the [Selected] box in the last column for that payment so there is no tick in the box.
Each transaction must include the details necessary for processing.
Description: This is the description to appear on your payee’s bank records
Account Name: The payee’s bank account name. If you have previously paid this person electronically, click on the selector button and select the account name (which will also include the BSB and Account Number.) If it is a new payee click on the selector button to add the details for this person.
BSB Number: The payee’s BSB Number
Account Number: The payee’s bank account number
Transaction Type: There are two different transaction types. Type 50 is for general purchases and type 53 is for pay cheques.
Remitter Name: The name of your bank account
Amount: The amount of the payment
6. Once you have selected all of your payments, click on the [Create File] button.
7. Review your file and click on the [Destination File Name] button. A Windows Save As screen will appear giving you options for the name and location of your saved file. The default location is where your Cashflow Manager Application file is installed. To change this, click on the down arrow next to Save In and select the location you require.
Note: You may wish to set up a folder in the Cashflow 11 directory for Electronic Payments.
The file name is your 3 letter Bank Code with the file type .ABA. This file type should not be changed as it meets the requirements of your bank to accept your file.
The file name should be unique to match your description if required to make file identification easier. (E.g. Creditors 200707.ABA)
8. Click on the [Save] button to save the file and return you to the Online Banking Preview.
9. Click on the [Print Report] button to print a list of your Online Banking payments.
10. Click on the [Save] button (or [Cancel] if you do not wish to proceed.) A message will appear advising that the file has been created. If you click on [OK] you will be finished. If you click on the [Cancel] button you will be taken back to the Preview.
11. Send your file to the bank. This usually involves using the Bank's software, although some Banks now accept an electronic payments file through their internet banking sites or on a floppy disk. If your bank uses its own software you will need to download or obtain a copy of this software to install to process the electronic file with the bank.
If the bank accepts disks or email then save the electronic file to disk or attach it to an email ready to send to your bank.
Each time an Electronic Payments file is created, the details are used in the Bank Reconciliation. If that file is not sent to the bank then it needs to be excluded from the reconciliation. Click on the [Advanced] button and select the file that has not been sent to the bank. Then click on the [Save] button.