Dynamics NAV - How to setup and use EFT, Electronic Funds Transfer, ACH,Electronic Payment, Export Payment to File

https://archerpoint.com/using-microsoft-dynamics-nav-electronic-payment-ach-transactions/ 

 

Set up EFT for Vendor Payment in Business Central 




• Pre-Requisites 

  • Setup EFT Bank information on the following windows mainly under the Transfer Fasttabs 

    • Company Information Screen 

      • Federal ID no 

    • Bank Accounts 

       

      • Country export format - US 

      • Payment export format – US EFT DEFAULT 

      • Enter e-pay export file name 

      • Enter 9-digit Transit No. - 000000000 

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    • Vendors 

    • Vendor Bank Account 

      • Use for electronic payments must be enabled 

      • Enter bank clearing standard 

      • Enter bank clearing code 

      • Enter 9-digit Transit Number - 000000000 

    • Payment Journal Template 

  • Create a Payment Journal Batch with a Bal Account type of "Bank Account" and select a bank account 

• Navigate to Posting Exchange Column Definitions 

  • Define Column definitions for EFT Output 

• Navigate to Posting Exchange Definitions 

  • Define a format for your EFT output 

• Create Payment Journal 

• Select batch with "Allow Payment Export" enabled 

• Enter payment line for bank account with EFT setup 

  • Ensure currency matches bank account 

  • Enter a recipient bank account 

  • Enter payment type – electronic payment 

• Bank>Export 

  • Print report – this marks the lines as "exported to EFT" (Similar to check printing) 

• Actions>Functions>Generate EFT File 

  • Select all>Generate EFT files