EFT Bank Codes Table
If you use Fund Accounting's Electronic Funds Transfer feature for processing vendor payments, you need to set up records in the EFT Bank Codes table for the banks used by the vendors you are paying. You then assign the bank records to your vendors in the Vendor List. For a description of how EFT works and how to do the necessary set up, refer to Payable Entry - Electronic Funds Transfer.
The EFT Bank Codes table is also used in the Human Resources System to manage direct deposit of employee pay checks.
To generate the Bank Table report, click Print. The report's default file name is banks.rpt.
Menu Path: Fund Accounting > Reference Tables > Reference Tables > EFT Bank Codes
Fields
Field | Description |
|---|---|
Bank Code | Code to identify the financial institution where the vendor payments are to be deposited. Integer/6 |
Bank Description | Name of the bank. Character/35 |
Check Title | Abbreviated version of the bank’s name. This information is not used for EFT transactions. It is referenced by Human Resources System’s Pay Run Processing option for printing on employee pay checks and direct deposit vouchers. Character/10 |
Bank Routing Number | Routing or transit number identifying the vendor’s bank in the Federal Reserve System. Character/9 This number is included in the ACH file generated for your bank when the associated vendor is paid through vendor check processing. The ACH file, in turn, contains the appropriate amounts to send to each vendor bank. |