EFT Prenotes

This option allows you to create an ACH file containing prenote data for all EFT vendors in your database with a prenote transaction code. That way, you are able to verify vendor bank account information separately from processing a vendor check run. The system prompts you to select the format template to apply to the ACH file.

This is especially useful in the following circumstances:

• When you first set up your EFT vendors with prenote transaction codes in the Vendor List. The EFT Prenotes option lets you create prenote information for your bank without having to wait until there is a vendor check run to process.
• When you add a new EFT vendor with a prenote transaction code to the Vendor List. Again, this option gives you the chance to create prenote information for your bank, providing sufficient time to verify the vendor's bank data before an actual EFT payment is made.

Menu Path: Fund Accounting > Entry & Processing > Vendor Checks > EFT Prenotes

Prenote Transactions

Based on Vendor List setup, you can generate prenote data for verifying a vendor's deposit information using the EFT Prenotes option. The data is included in an ACH file with a transaction code indicating you are not making an actual payment but are instead performing a test.

The following Vendor List Trans Codes designate the vendor for a prenote transaction:

34 - 1st Savings Prenote - Creates first savings account prenote when prenote data is generated.
33 - 2nd Savings Prenote - Creates final savings account prenote when prenote data is generated.
24 - 1st Checking Prenote - Creates first checking account prenote when prenote data is generated.
23 - 2nd Checking Prenote - Creates final checking account prenote when prenote data is generated.

You cannot generate an EFT payment for a vendor until the Trans Code is 22 - Checking Credit or 32 - Savings Credit. Vendors with prenote codes are automatically included in the ACH file generated by the EFT Prenotes option or from a check run with a Payment Type of A - All or E - EFT Only.

When prenote data is created for a vendor with a transaction code of 34 or 24, the system moves the vendor to the next transaction code of 33 or 23, as appropriate. This means prenote information must be created and sent to your bank one more time before the vendor can have EFT payments processed.

When prenote data is created for a vendor with a transaction code of 33 or 23, the system moves the vendor to transaction code 32 or 22, as appropriate. Future payables for the vendor may then be processed as EFT transactions.

Remember, the vendor's transaction code is automatically updated when you generate prenote data for that vendor. EFT payments can be made to the vendor as soon as the transaction code is either 22 or 32.

Therefore, make sure you leave adequate time between creating final prenote data for a vendor and processing payments to the vendor in an AP check run. That way, you have a chance to verify the vendor's information with the bank handling your EFT payments.

Generating Prenote Data for Your Vendors

1. Use the Fund Accounting Reference Tables' Vendor List option to confirm which vendors in your database have prenote transaction codes (23, 24, 33, and 34).
   Refer to the Trans Code field in the Vendor Information page's EFT/ACH tab.
2. Select Fund Accounting > Entry & Processing > Vendor Checks > EFT Prenotes to display the EFT/ACH Prenotes page.
3. Select the Child Support Prenote checkbox if the funds transfer is for a child support payment.
4. In the EFT Description field, select the file format template your bank requires for the Automated Clearing House (ACH) file.
   When you select a format, data displays in the Bank Description Name and EFT File Format fields based on entries in the EFT Destination table.
5. In the Date Entries to be Posted field, enter the transaction date to include in the ACH file.
6. In the File Creation Date field, enter the date to apply to the header record of the ACH file to indicate when the file was created.
7. Click OK.
8. In the Print window, enter settings for generating the ACH file. Make note of the file name and server directory you use for storing the file. The system's default file name is eftprenotes.tpe.
9. Click OK to generate the ACH file. The file is stored on your application server in the directory you defined in the Print page. Your site is then responsible for sending the file to the bank.
10. In the next Print window, define the printing parameters for the EFT report, and then click OK.
    • The default file name for the report is eftprenotes.rpt. To avoid overwriting previous reports, you should change the default file name.