Costpoint Online Help

Using the Help Search
Using the Help Search
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    Ex."system administration"
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    Ex.system + administration
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    Ex.system administration
For more information:Searching Online Help

Bank Info Tab

Use the Bank Info tab of the EFT Bank Info subtask from the Manage Company Bank Accounts (US Banks) screen to enter general information for the US bank.

Bank Info

Field Description
Debit Bank Status

Select the status from the drop-down list:

  • Active: Select this if you want to be able to transfer funds from this account.
  • Not Active: Select this if you do not want to transfer funds from this account, but you want to complete fund transfers at some point in the future. All EFT vendors paid from this bank account receive checks instead.
Debit Bank ABA

The bank ID from the main screen displays in this field.

A debit record is the charge against the company's bank for the total amount of the electronic transfer. It is normally your bank's local ABA number. Because many banks have merged and/or been acquired, however, it is not unusual to have one ABA number for your local branch and a different ABA number for the home office. In this circumstance, enter the ABA number for the local branch in this field. (A different ABA number is already entered for the home office in the Bank ID field on the main screen for the home office.)

If your bank does not require a debit record, you can delete the default bank ID number in the Debit Bank ABA field.

Accounts designated only for use with Payroll direct deposit cannot be used as the EFT bank for your company.

When banks are incorporated, they are assigned an ABA number by the Federal Reserve to identify the bank sending or receiving information. The ABA number is the first block of numbers at the bottom left portion of a check or deposit slip issued for use by individuals or corporations. This number must be exactly nine digits long, without separators such as dashes, and it must be numeric. If the number does not contain nine digits, Costpoint automatically adds enough leading zeros to bring the ID to nine digits when you tab from the field. (For example, if you enter the number"1234," then "000001234" automatically displays when you tab away from the field.) If the bank ID contains letters, you cannot save the row.

Flags

Use this group box to configure the EFT file.

Field Description
Pad Last Block

If your bank requires it, select this check box to add records until the total number of records in the file equals a multiple of 10. For example, if 28 records exist after all pre-notes and live deposits are recorded, Costpoint adds two additional records for a total of 30 records in the file. The additional records contain only nines. By default, this check box is cleared.

Hard Returns

Select this check box to include hard returns at the end of each line. If your bank does not accept files with hard returns at the end of each record, leave this check box cleared. By default, this check box is selected.

Suppress Commas

Select this check box to write vendor names to the EFT file without commas. If this box is cleared, Costpoint writes all vendor names as entered, including commas, to the ACH file. By default, this check box is not selected.

"1A" EOF Marker

Select this check box to include an end-of-file marker at the end of your EFT file. Many banks require ACH files to have an end-of-file marker. If your bank does not require this, however, leave this check box cleared to exclude the end-of-file marker from the EFT file. By default, this check box is selected.