CREATE EFT FILE

Use this screen to create the ACH file of electronic funds transfer (EFT) payments to vendors. This file will be used to transmit payment data to your company's bank.

Your bank:

• Debits your company's bank account for the total amount of the payments.

• Credits the accounts of any vendors who use the same bank.

• Transmits payment data for the remaining vendors to each vendor's individual bank.

You can include only one bank/bank account combination in an ACH file. When creating files for many bank/bank account combinations, make sure you give each ACH file a unique name, or Costpoint will overwrite the existing file with the new one.

Costpoint collects EFT payment information for each Entry Detail record based on the bank account abbreviation you enter on this screen. When you click the Create EFT File button on the Action menu, Costpoint first checks the Cash Accounts table to find the cash account/organization combination mapped to the bank account abbreviation entered in this screen. Costpoint uses the cash account/organization to identify which vouchers in the Open Accounts Payable table can potentially be paid by EFT. It searches only those vouchers that have PAY status, and are thus eligible to be paid by either check or EFT. (Select vouchers for payment on the Select Vouchers for Payment screen.)

After Costpoint finds vouchers with PAY status written to the cash account/organization that is mapped to the bank account abbreviation, it eliminates vouchers using the following criteria:

• Costpoint eliminates vouchers for pay vendors without bank account abbreviations in the Vendor table (Manage Vendors screen) for the address code assigned to the voucher. These vendors are not EFT vendors. Vouchers to these vendor/addresses will be paid by check.

• Costpoint eliminates vouchers for vendors for which the EFT Active option was not selected on the Addresses subtask of the Manage Vendors screen for the address code assigned to the voucher. These vendor/address combinations are EFT vendors, but are not currently active EFT vendors. Vouchers to these vendor/addresses will be paid by check.

• Costpoint eliminates unapproved vouchers.

The remaining vouchers will be paid by EFT. To create the Entry Detail record for each vendor, Costpoint uses the following information from the Vendor table (entered in the Manage Vendors screen): ACH Code, Bank Account Abbreviation, Pay Vendor ID, Vendor Name, and Address Code.

To calculate the Amount of Transfer for each vendor, Costpoint totals the payment amounts for all vouchers to the vendor. (For all prenote vendors, Costpoint sets the Amount of Transfer to 0.00 and adds the text Prenotification to the record. Prenote vendors will be paid by check.)

The invoice date, invoice amount, and discount amount for each voucher are also included in the Entry Detail record.

After the creation process finishes, the ACH file includes:

• A File Header Record containing the sending point and receiving point, the date, the time, and other unique file identifiers.

• A Company/Batch Header Record identifying the Depository Financial Institution (DFI) from which you will be making payments to vendors and a description of the file transfer as a whole.

• Addenda records that give detailed payment orders and remittance information for each vendor per NACHA (North America Clearing House Association) standards, in accordance with ANSI ASC X12 820 version 5010.

• Addenda records begin with a record code type of 7.

• You can create an addenda record as an EDI 820 Transaction Set for which the detail record is sent without the NACHA envelopes or you can include NACHA envelopes around the addenda record.

• There are three envelopes that you can create around the addenda record depending on the screen selections:

• ISA/IEA — The Interchange Control envelope consists of an Interchange Control Header (ISA) and an Interchange Control Trailer (IEA). This envelope identifies the originator and receiver of the transmission. This envelope is included if the EDI 820 Transaction Set is not selected.

• GS/GE — This envelope is the Functional Group envelope with a Functional Group Header (GS) and a Functional Group Trailer (GE). This envelope identifies the sending and receiving companies within the file. This envelope is included if the EDI 820 Transaction Set is not selected.

• ST/SE — The innermost envelope is the Transaction Set which begins with a Transaction Set Header (ST) and ends with the Transaction Set Trailer (SE). This envelope contains the last four characters of the EDI Control No and wraps around the 820 detail addenda record. This envelope is included with the addenda record regardless of the screen selection.

• Three data segments within the EDI 820 transaction set. This record is created whether or not the EDI Transaction Set is selected and includes the ST/SE envelope.

• Payment Information:

• BPR — Details the payment amount, EFT Transfer Type (CTX, CCD, PPD), bank information from the sender, and bank information from the receiver.

• TRN — Trace codes for the bank to identify the transactions that are being referenced.

• N1/N1 — Originator and receiver identification information.

• Invoice Information:

• RMR — Invoice number, invoice amount, discounts taken, and amount paid.

• REF — Voucher number and date.

• A Company/Batch Control Record that contains counts and total currency amounts for the preceding Entry Detail Records.

• A File Control Record containing total currency, entry, and hash amounts from the preceding Company/Batch Control Records.

Before you can create a file on this screen, you must enter EFT information on:

• The Manage Banks screen

• The Company EFT Bank Info subtask of the Manage Company Bank Accounts screen

• The Manage Cash Accounts screen

• The Manage Vendors screen

After you create the file, print the EFT Edit Report to review the file's contents. If the file contains inaccurate bank abbreviation information for either your company or for vendors, of if the vendor's address code or ACH code is incorrect, edit this information on the Company EFT Bank Info subtask and/or the Manage Vendors screen and recreate the ACH file.

Do not change the vendor ID before paying posted vouchers. Posted vouchers are not updated with changes to the vendor ID. If you change the vendor ID on the Manage Vendors screen, Costpoint will not be able to find vouchers for the new vendor ID, and the vendor will not be paid the correct amount.

Do not use the following characters for data stored in the VEND (Vendor) or the VEND_ADDR (Vendor Address) tables since doing so might disrupt the structure of the Electronic Data Interchange (EDI) file, thus compromising the bank submission process:

(Data Element Separator) = *

(Data Segment Separator) = \

(Component Element Separator) = ~

Each time that you recreate the ACH file using the same file name, Costpoint overwrites the old file with new information.

You must post vouchers, select them for payment, and approve them before they are eligible to be paid by EFT.

See Electronic Funds Transfer (EFT) for related information.

Location

Options

Select Bank Abbreviation

Bank Abbr

Enter, or click to select, the bank account abbreviation for the bank from which EFT payments will be made. This field is required. Costpoint validates that the bank account abbreviation was entered on the Manage Company Bank Accounts screen. If this validation fails, Costpoint displays an error message and you cannot save your settings or create the EFT file.

You can create the EFT file for only one bank/bank account combination at a time.

After you enter a bank account abbreviation, a description of the bank account abbreviation displays in the adjacent field.

Currency

This non-editable field displays the bank account currency linked to the bank abbreviation.

Taxable Entity

Enter, or click to select, a valid taxable entity number.

Company Tax ID Qualifier (ICD)

Enter your company's tax ID qualifier in this field. The Identification Code Designator (ICD) is the first character of the company identification field. The default value for this field is 1.

File Information

Effective Date

Enter, or click to select, the date on which the bank should credit the vendors' accounts. This is the date the payment becomes effective. The current system date automatically defaults into this field.

ACH File Name

Enter the name of the file Costpoint will create, and the path, if necessary, in this required field. Each time that you create an EFT file with this name, Costpoint overwrites the old file. To keep previous copies of the EFT file, Deltek recommends that you develop a system of naming that produces unique names for each file. For example, you could use a month/date approach, which would identify a file created on July 1 as BANK0701.DAT, a file created on July 31 as BANK0731, and so on. There is no default for this field because all ACH file names are dependent on the instructions from your bank.

Location

Enter, or click to select, the location code that identifies where the file is to be created.

Overwrite File

Select this check box if you want to overwrite the existing EFT file.

EDI Control No

Enter the control number for the Electronic Data Interchange (EDI) output file. The EDI is the electronic exchange of business transaction information in machine readable format. This number will be used to build the control numbers within the file.

EFT Transfer Type

EFT Transfer Type

From the drop-down list, select the EFT transfer type that your bank has specified:

• CTX — Corporate Trade Exchange

• CCD — Cash Concentration or Disbursement

• PPD — Prearranged Payment and Deposit Entry

• 820 Transaction Set — Creates the EFT file using only the 820 Transaction Set; the ISA/IEA and GS/GE envelopes are not created around the 820 detail transaction set.

ACH Addenda

Include Addenda Records

Select this check box to include addenda records with the EFT.

The CCD and PPD transfer types cannot have more than one addenda record for each vendor; otherwise, the bank will reject the record. Review the Print EFT Edit Report screen to see if the file contains too many addenda records.

Addenda Format

Select one of the following options as the format for the addenda records:

ASC X12

Costpoint creates the addenda records using the ASC X12 format.

Non-standard

Costpoint creates the addenda records using a non-standard format.

Create EFT File

Click on the toolbar to create the EFT file.

• Table Information

  This screen uses the following tables:

  • Default Cash Accounts (DFLT_CASH_ACCTS) —Costpoint uses this table to identify which cash account/organization combinations are mapped to the bank account abbreviation and account entered in this screen. Because all vouchers are assigned to a specific cash account/ organization, Costpoint can use this information to identify which vouchers in the Open A/P table can potentially be paid by EFT.

  • Open A/P (OPEN_AP) —This table contains outstanding vouchers. Costpoint uses the voucher approval and pay status contained in this table to eliminate certain vouchers from inclusion in the EFT file. The payment amounts contained in this table are summed for all vouchers belonging to a vendor to arrive at the Amount of Transfer.

  • Vendor (VEND) — This table contains the vendor's EFT bank and bank account information, address code, ACH code, active flag, ID, and name. (All except the active flag are inserted in the vendor's Entry Detail Record in the ACH file.) Costpoint uses the Active flag and the presence or absence of bank information in combination with the address code to include or exclude the vendor from the EFT file. The ACH code contained in this table determines whether the vendor is a live EFT vendor or a prenote vendor.

  • Voucher Header History (VCHR_HDR_HS): — This table contains all the information entered in the headers of posted vouchers (voucher number, invoice date, invoice amount, and so on.). Costpoint retrieves the invoice date, invoice amount, and discount amount from this table for each voucher and inserts this information into the Entry Detail Record for the vendor to whom the voucher belongs.