Banking Setup
Australia/New Zealand Accelerator Wizard
The Australia/New Zealand Accelerator Wizard guides you through:
- Updating report selections to use the documents provided with this app
- Configuring your EFT transfer file formats
- Assigning the file formats to your bank accounts and downloading pre-configured bank statement formats
note
Our standard bank statement formats include the required mapping for the Advanced Bank Reconciliation extension. We recommend installing this extension first if you intend to use it, so you don't need to update your configuration later.
EFT Setup
The EFT Setup page contains settings that control EFT functionality in Business Central. The setup is created automatically when you install the app or create a new company.
| Field | Purpose |
|---|---|
| General | |
| EFT Nos. | Specifies the number series used for EFT transfers. |
| Default Lodgement Reference | Specifies the default lodgement reference that is used for some banks when submitting the EFT file. |
| Allow Regenerate Posted EFT File | Specifies whether an EFT file can be regenerated when the payment journal has been posted. |
| Realised WHT Type Invoice | Specifies whether to enforce realised WHT type to invoice for purchases or sales of items for all WHT business and product posting groups. |
| Warning if Duplicate Payment | Specifies that a warning will be displayed when generating an EFT if the same vendor, customer, or employee will be receiving a payment more than once in a batch. If you select Always, the warning is shown before generating the EFT transfer, as well as when opening a journal batch that has a pending EFT transfer. |
| Check Applied Amount on Export | Specifies that the payment amount is compared to the applied amount when creating the EFT. This helps avoid paying the same entity more than once and also enforces that payments can only be made if they are applied. |
| Local Branch Account Format | Specifies the format of local bank accounts. This field determines how to split the bank account into the EFT Bank account fields. Bank-Branch/Account-Suffix – supports NZ bank account numbers with hyphens for formatting. Bank-Branch/Account – supports AU bank account numbers with a hyphen in the Branch No. Branch/Account – supports AU bank account numbers with no formatting. Branch/Account (7) Suffix (2/3) – supports NZ bank account numbers without formatting. |
| Force Bank Account on Suggest | Specifies that the customer or vendor bank account must exist when suggesting a payment for customers or vendors that are set up as EFT Payment. You will not be able to create an EFT transaction if there are no banking details specified, so even if you remove this validation, you will still receive an error when you generate the EFT. |
| Disable EFT Bank Changes | Specifies that changes cannot be made to the EFT Bank, branch, account, and suffix fields directly. If this is selected, you can only update the bank branch and account number fields. The values between the EFT fields and the bank/branch are synchronised irrespective of this setting. |
| Payee Name Mandatory | Specifies that payee names must be specified on the vendor and customer bank accounts. If you do not specify a value, the program will use the customer or vendor name if the payee name is not specified. |
| Maximum Payee Name Length | Specifies the maximum length that can be specified for the payee name to ensure that it does not exceed the maximum allowed by your bank. If you do not specify this, the limit is 100 characters, which is the field length. |
| Validate NZ Bank Accounts | Specifies that Business Central will validate New Zealand bank account details on bank accounts, customer bank accounts, vendor bank accounts, and employees. |
| EFT Approval | |
| Generate EFT File without Approval Check | Specifies that an EFT file can be exported before it has been through an approval process. Only specify this if you do not want to enforce that EFT transfers are approved before being exported. |
| Advanced EFT Approval | Specifies if Advanced EFT Approval is enabled and how the EFT Approval limits get enforced when approving EFT transactions. If you enable the Advanced EFT Approval, you will need to configure the EFT Approval limits for the EFT Approvers. |
| No. of Unique Approvers | Specifies the minimum number of unique approvers required to approve an EFT when the Advanced EFT Approval feature is enabled. If you use a workflow user group on your EFT Workflow, you must ensure that the value you specify here aligns with the number of approvers in the workflow user group. |
| Direct Credit | |
| Banking Details in Payment Journal - Direct Credit | Specifies whether banking details for refunds can be edited in the payment journal. If you enable this, you may consider enabling an approval workflow to enhance security. |
| Edit Customer/Vendor Bank | Specifies whether changes to vendor or customer bank accounts are allowed in the payment journal. Warning: If you enable this, you introduce the risk that incorrect bank accounts may be used during a payment run. You will need to validate this carefully. |
| Edit EFT References on Payment Journal | Specifies whether EFT references can be updated in the payment journal. Enable this if you have references that need to change in specific scenarios. While this is less risky than allowing bank details to change, editing references in the journal does introduce additional risk and should be reviewed carefully if you enable this feature. |
| Payment Schedule Report ID (DC) | Specifies the payment schedule report that gets printed for direct credit EFT transfers. |
| Print Payment Schedule (DC) | Specifies whether you want to print the payment schedule when you generate the EFT transfer. Select No if you don't want to print automatically, Prompt User if you want the user to decide and Always if you want it to print automatically without user intervention. |
| Remittance Advice Setup | |
| Print/Send Remittance | Specifies whether to print or send remittance advice. Available options are No, Always and Prompt User. Select Always to print or email the remittance advice automatically when posting the payments. Select Prompt User to print or email it based on the user response when posting payments. |
| EFT Particulars | Specifies the default EFT Particulars that will be copied to new vendor or customer bank accounts. |
| EFT Code | Specifies the default EFT Code that will be copied to new vendor or customer bank accounts. |
| EFT Reference | Specifies the default EFT Reference that will be copied to new vendor or customer bank accounts. |
| Direct Debit | |
| Banking Details in Cash Receipt Journal - Direct Credit | Specifies whether banking details for payments can be edited in the cash receipt journal. If you enable this, you may consider enabling an approval workflow to enhance security. |
| Payment Schedule Report ID (DD) | Specifies the payment schedule report that gets printed for direct debit EFT transfers. |
| Print Payment Schedule (DD) | Specifies whether you want to print the payment schedule when you generate the EFT transfer. Select No if you don't want to print automatically, Prompt User if you want the user to decide and Always if you want it to print automatically without user intervention. |
| Remittance Advice Setup | |
| Print/Send Remittance | Specifies whether to print or send remittance advice. Available options are No, Always, and Prompt User. Select Always to print or email the remittance advice automatically when posting the receipts. Select Prompt User to print or email it based on the user response when posting receipts. |
| Bank Account Defaults | |
| Default Usage - Vendor Bank | Specifies whether the vendor bank account will be used for direct credit transfers, direct debit transfers, or both. This value will be used as the default value on the vendor bank account card. |
| Default Usage - Customer Bank | Specifies whether the customer bank account will be used for direct credit transfers, direct debit transfers, or both. This value will be used as the default value on the customer bank account card. |
EFT Payment Status
Payment statuses are used with the host-to-host integration to interpret the responses from the bank.
Bank Statement Import Setup
You can use the Australia/New Zealand Accelerator Wizard to download pre-configured bank statement formats.
The app uses the standard Data Exchange Definitions functionality provided by Business Central, with enhancements to handle scenarios not supported by the standard functionality.
Additional configuration options include:
- Setting up a variable text statement import with more than three record types
- Setting up a fixed text statement import
Transformation Rule for the Westpac Deskbank Fixed Text Bank Statement
All transactions in a Westpac Deskbank Fixed Text Bank Statement are positive values. The transaction sign is derived from the transaction code using a custom transformation rule.
Data Exchange Columns
Define the transaction code and amount as a single column in the data exchange columns.
Field Mapping
Map this field to the amount and apply the transformation rule to implement the custom logic.
EFT Bank Setup (EFT Transfers)
The EFT Bank Setup page configures EFT Bank File Formats used to generate EFT files. You can create EFT file formats using the Australia/New Zealand Accelerator Wizard or manually for banks not supported by default.
- Direct Credit - View or edit EFT Bank File Formats for direct credit EFT transfers. This format is used when the EFT transfer relates to local bank accounts in the company's functional currency.
- Direct Credit (Cross Border) - View or edit EFT Bank File Formats for cross-border direct credit EFT transfers. Cross-border payments are payments in a currency different from the bank's currency, or payments to a bank account in a foreign country. You must enable cross-border payments on the bank account card.
- Direct Debit - View or edit EFT Bank File Formats for direct debit EFT transfers.
info
The cross-border EFT file format is usually different from the local EFT file format.
EFT Bank File Configuration
The Direct Credit, Direct Credit (Cross Border), and Direct Debit actions open the EFT Bank File Configuration page. The following animation demonstrates how to access the page and switch between record types.
| Field | Purpose |
|---|---|
| Line No. | An auto-generated reference number for this record. |
| Description | A description of the value to be exported. |
| Concatenation Group Code | A reference to a group of fields that will be concatenated to form a single export value. This enables combining multiple field values or constant values into one export value. See the note below for additional information. |
| Type | The type of value to export (field or constant). |
| Constant Value | The constant value to be exported. |
| Table Caption | The caption of the table from which the field is exported. |
| Field Caption | The caption of the field to be exported. |
| Field Name | The name of the field to be exported. |
| Table Name | The name of the table from which the field is exported. |
| Column Length | The maximum length of the field to be exported. |
| Transformation Rule | The transformation rule applied to the field value before any other formatting. |
| Format String | The AL format string used to format the value before export. |
| Multiplier | A multiplier to be applied to amount fields. |
| Copy Str From Position | The starting position for copying a string. |
| Copy Str Length | The length of the string to copy. |
| Uppercase | When enabled, the value is exported as uppercase. |
| Text Right Align | When enabled, the value is right-aligned. |
| Pad Character | The character used for padding when a text field is right-aligned. If not specified, a space is used. |
Concatenation Rules
The Concatenation Group Code field allows you to concatenate fields or constants defined on Bank File Configuration Lines.
Manipulation rules are divided into two sets:
- Individual field manipulation: Format String, Multiplier, Starting Position + Length
- Concatenation result manipulation: Transformation Rule, Column Length, Text Right Align + Pad Character
The first set is applied to individual fields before concatenation. The second set is applied to the concatenated result.
New Zealand Bank Account Validation Setup
The New Zealand Bank Account Validation feature includes two setup tables that are created automatically when you install the app. Access these pages from the EFT Setup card.
NZ Bank Account Validation Setup
This page contains bank information and valid ranges for branch and account numbers.
NZ Bank Account Algorithms
This page contains the algorithms used to validate bank account details.
See Also