In part 1 – We went thru the Steps to setup the Company EFT Information. In part 2 – We went thru the Steps to setup the Employee as a Vendor and the Steps to setup the Employee Bank / EFT Information. In part 3 – We went thru the Steps to Generate an EFT PreNote File to send to the Bank and the Steps to Enter the Employee Expenses. In this Section we will go thru the Steps to pay the Employee Expenses via EFT and send the File to the Bank.
In part 1 – We went thru the Steps to setup the Company EFT Information. In part 2 – We went thru the Steps to setup the Employee as a Vendor and the Steps to setup the Employee EFT Information. In this Section we will go thru the Steps to Generate an EFT PreNote File and the Steps to Enter the Employee Expenses.
In part 1 – We went thru the steps to setup the Company EFT Information. In this Section we will go thru the steps to setup the Employee as a Vendor and to setup the EFT Information for that Vendor.
Step One – Create a Vendor Class – this class will be assigned to all Employees setup for Expenses
Go To Purchasing >> Setup >> Vendor Class
Why Pay Employee Expenses as an EFT (Electronic Funds Transfer)?
1) Ensure Employees receive their expense reimbursements in a timely manner
2) Save time not printing checks / getting checks signed / stuffing envelopes / mailing payments
3) Automatically Email EFT Remittances to Employees
Steps to Setup the Company Side of the EFT Transaction
Setup Company EFT Information (You will need to work with your Bank for the file layout specifications and preferred transmission method)
1) Go To Financial >> Cards >> CheckBook
2) Select the Appropriate CheckBook
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