Hank the Tank. mow indicates that we are at the Electronic Funds Transfer step of the pay run, the final step. This step is responsible for generating the bank file containing member bank details and member pay details.
There are several points to note on this screen, as can be seen above:
· The EFT Date field defaults to the period ending date, but this may be changed to another date.
· The Export Directory field defaults to an export folder, but this may be changed to any folder that the user wishes to save the file to.
· The Export File Name defaults to the period ending date, but again may be changed to any file name the user wishes, and would typically conform to the naming standards defined by the company’s bank.
· · The ‘See EFT Parameters’ button enables users to view the bank account details from which member payments will be processed.
Handy Hint
It is not possible to go back from this step.
If the user clicks on the ‘Back’ button at this stage, a message will display stating that the Print Payslips stage has already been completed for the current period, and it is not possible to return to that stage.
Click on the ‘Generate Bank Transfer File’ button to generate the file. A confirmation message is displayed informing the user that the ABA16 file has been generated.
Click on OK and then click the ‘Close Off Pay Run’ button to mark the pay run as complete. The following screen is then displayed. Click the ‘Close’ button to close the screen. The pay run is complete.
IMPORTANT: Do not close the pay run until you have confirmed that your bank has successfully processed and accepted the ABA file. Closing the pay run before receiving this confirmation can result in payment discrepancies or missed transactions. Ensure the funds transfer is fully accepted by your bank before proceeding to close off the pay run.
Next Step is to Email/Post the payslips now!