Electronic Funds Transfer (EFT)

You can pay vendors using the electronic funds transfer (EFT) system in New Zealand.

Setting up Electronic Funds Transfer in Business Central

Business Central can export EFT files that you can then upload to your bank’s website for additional processing. To submit EFT files, you must set up the following information:

• You must add EFT information to the bank account or bank accounts that you will use to pay vendors electronically. The EFT-specific fields are in the Transfer FastTab on the Bank Account page.
• For those vendors that you want to pay electronically, you must select the EFT Payment check box and specify the vendor bank account in the EFT Vendor Bank Account Code field on the Vendor page.

When you have set up bank accounts and vendors, you can create EFT file that are based on entries in the payment journal. When you create an EFT file, an entry is made in the EFT Register table. On the EFT Register page you can drill down to see the vendor ledger entries for the EFT file. On the Payment Journal page,you can also import existing EFT register entries to the payment journal by using the Transfer EFT Register batch job.

See Also

Export Payments to a Bank File
New Zealand Local Functionality

© 2019 Microsoft. All rights reserved.