EFT Processing

This step is used to generate a file containing all EFT transactions from the current payrun.
This file can then be uploaded to your bank for payment to each employee.

You can access this screen during the payrun process, and can also generate an EFT file from a previous payrun if required.

1. Ensure that at least one employee's payment method is EFT.
2. Complete the data entry in payrun.
3. Proceed with the Payrun Update.
4. On the Update screen click Nextto reach the EFT Processing screen.
   
5. Complete the following information:

Field	Explanation
Company Bank Accounts	This is a list of all existing company bank accounts. Payments will be taken from the selected account. The system will automatically select the first account in the list. Sort the list if you require a different account to be first.
Processed Date	Enter the date you want the bank to process this payment. You may enter a date in the future if required, but check with your bank to see if any limits apply.
Lodgement Ref	This will appear on the employees bank statement. If required you can change it here.
EFT Format	For Australian companies this will always be ABA. For New Zealand companies this will be the Alternative EFT Format selected in Company Bank Accounts
Filename	This is the default location and file name of the EFT file which will be generated. The path is the default. The filename includes a date and time stamp, the current run number and the company name.
Browse	Click on the Browse button if you wish to change the path or filename.
Generate	Once your settings are complete, click Generateto create the EFT file in the specified location.