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Sparkrock's Customer Success Center

Processing EFT Payments

Now that the setup steps are complete, you can begin processing payments. When you are ready to transmit an EFT payment to a vendor, there are some tasks you need to perform to create a record of the payment, provide the required details to the bank and the vendor (remittance advice), and then finally, transmit the funds.

Capturing the Transaction in the Payment Journal

The Payment Journal is a journal that captures transactions that will be processed.

When processing EFT transactions, you can select filtering options to ensure the batch process only captures items flagged as EFT based on the vendor configuration you set up.

To capture vendor payment transactions:

  1. Click Tell Me and search for Payment Journals. Select the page from the drop-down list.
    The Payment Journals page displays.

  2. Click the Batch Name drop-down arrow and select the appropriate batch.
    TIP: You may want to create a separate batch to process electronic payments independent from other check payments.
  3. On the Action Bar, click Process > Select Vendor Payments.
    The Suggest Vendor Payments dialog displays.

  4. In the Options section, complete the following fields specific to the EFT process:
    • From the Bal. Account Type drop-down, select Bank Account.
    • Click the Bal. Account No. drop-down arrow to open the Bank Account List.
    • Select the bank used to transfer the funds to the vendor account and click OK.
    • From the Bank Payment Type drop-down, select Electronic Payment.
  5. In the Vendor section, complete the following fields (this step is optional):
    • From the Where drop-down, select Payment Method Code.
    • From the Is drop-down, select EFT.
  6. Click OK.
    The payment journal is populated with the appropriate entries based on your selections.

Creating the Remittance Advice and Bank Transfer Files

You can create the remittance advice document that combines all letters in one file and the bank transfer export file simultaneously.

To generate a full remittance advice document and bank export file:

  1. On the Payment Journals page, on the Action Bar click Process > Export
    The Edit - Vendor Remittance Advice page displays.
  2. The Bank Account No. field defaults to the last bank account number used. Verify that this is the correct account to use for these transactions. If not, select a different bank account.
  3. Click OK.
    A notification dialog displays confirming that the Payroll Journal Lines have been exported.

Note: Action Transmit on the Payment Journal is conditionally enabled. The system first checks the Payment Journal Batch. If Bal. Account Type = Bank Account and if the Bank Account's Country Export Format is blank or Other, then the Transit action is enabled. It is not used when the Country Export Format is CA, US or MX.

Generating the EFT File

  1. On the Action Bar, click Generate EFT File
    The Generate EFT Files page displays, showing the lines from the payment journal that have been exported.
  2. On the Action menu, click Process > Generate EFT File.
    This process generates a flat file to be uploaded to the bank.

Generate Vendor Remittances

  1. On the Action menu, click Vendor Remittances
    The Edit Vendor Remittance Log page displays.
  2. To send all unsent vendor remittance emails, on the Action Bar click Process > Send Email
  3. Click Close.

Review and Resend Vendor Remittances

  1. To view the vendor remittance, on the Action Bar click Process > Preview Remittance Advice.
    A PDF copy of the vendor remittance is downloaded:
  2. To review and/or edit the vendor remittance email details, on the Action Bar click Process > Edit Email.
    The Edit Remittance Email page displays.
  3. To toggle the Email Sent slider, on the Action Bar click Process > Toggle Remittance Sent.
  4. Update the remaining fields as required and click OK to return to the  Edit Vendor Remittance Log page.
  5. To resend a vendor remittance email, on the Action Bar click Process > Resend Single Email.
  6. Click Close.

Uploading the File to the Bank

Once you have the export file prepared, you need to send the file to the bank for processing. After the file is transmitted to the bank, you get a notification from the bank indicating that the process completed without errors.

To upload the export file to the bank:

  • Follow the instructions provided by your financial institution.

If you receive an error or notice that something prevented the file from transmitting successfully, you can void the transmission and try again.

Posting the Payment to the General Ledger

Now that the payment file has been exported and transmitted to the bank you can complete the next step, which is to post the payment to the Payment Journal.

You have two options:

  • post the payment
  • post the payment and print a copy as a report

To post the payment to the general ledger:

  1. From the Payment Journals page, on the Action Bar, click either Post or Post and Print.
  2. A confirmation message window opens. Click Yes to complete the posting process.
    When complete, another confirmation window displays.
  3. Click OK.

Voiding the Payment Transmission Process in the Event of an Error

Should anything go wrong with the electronic file sent to the bank, the full payment process can be reversed by voiding the batch. The EFT process only voids full batches and NOT item by item.

To void the payment process:

  1. From the Payment Journal page, on the Action Bar click Process > Void.
    The Void/Transmit Electronic Payments dialog box displays. 
  2. In the Bank Account No. drop-down list, select the bank to which you originally transmitted the export file containing the electronic payment details.
  3. The E-Pay Operation field displays Void by default. Leave this option as selected.
  4. Click OK.
    The Void process begins. This process deletes (voids) the batch. Once the void is complete, you can attempt to re-transmit the payment to the bank.
    Voiding the payment lines from the Payment Journal deletes the entries from the email log.
    Note: A financial void (voiding transactions after they have been posted) removes the attachments from the database so a vendor remittance advice cannot be reprinted or resent.

Working with Vendor Remittance Log

You can view the vendor remittance email log from the Vendor Card and Check Ledger Entries pages.

Viewing the Vendor Remittance Log from the Vendor Card

To view the vendor remittance log from the Vendor Card:

  1. From the Vendors list, select a vendor to open the Vendor Card.
  2. From the Action Bar, click Navigate > History > Vendor Remittance Log.
    The Vendor Remittance Log displays.
  3. To resend the vendor remittance, on the Action Bar click Process > Resend Single Email.

Viewing Vendor Remittance Log from the Check Ledger Entries Page

To view the vendor remittance log from the Check Ledger Entries page:

  1. Click Tell Me and search for Check Ledger Entries. Select the page from the drop-down list.
    The Check Ledger Entries page displays.
  2. Select an entry and from the Action Bar click Navigate > Vendor Remittance Log.
    The Vendor Remittance Log displays.
  3. To resend the vendor remittance, on the Action Bar click Process > Resend Single Email.

Deleting Vendor Remittance Logs

To delete old records from the EFT Email Log:

  1. Click Tell Me and search for Delete Vendor Remittance Log. Select the page from the drop-down list.
    The Delete Vendor Remittance Log displays.
  2. In the Created Date field, specify a date before which entries are deleted.
    A confirmation dialog appears. Click Yes.
  3. Click OK.


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