Initial Setup Before You Can Make ACH (NACHA) EFT Vendor Payments

If you pay vendors via ACH (NACHA) EFTs, review the settings that you must complete for banks, vendors, the vendor payment template, and automatic payment numbering.

Location in Vantagepoint	Setting
Settings > Cash Management > Banks	For banks that you use to make ACH payments to vendors, make these selections on the Bank Codes settings form: On the Banks tab: set the Export to Text Format field to User Defined. On the NACHA File Format tab: Enter information for the NACHA-formatted file that is generated when you process ACH payments in Vendor Payments.
Hubs > Firms	For vendor-type firms that will receive ACH payments: In the Banking Information section of the Vendor tab: Click beside the Electronic Payment Method field. On the Electronic Payment Method dialog box that displays: Select NACHA. Enter information for the vendor's bank that will receive the ACH direct deposit payments. Enter information such as the bank ID, account type, and account number. Select whether to print or email remittance advices for payments to the vendor.
Settings > Cash Management > Accounts Payable	On the Payments tab, the format that you select in the Printed Payment Format field and the template that you enter in the Template field control what the vendor payments look like when you print any type of vendor payment using the Print Payments or Other Actions > Print File Copy actions on the Payments grid on the Printing and Numbering page in Vendor Payments. The printed payments for ACH EFTs have "NON-NEGOTIABLE" printed on them. The file copies have "COPY" printed on them.
Settings > Accounting > Transactions	In the Bank Transactions section, you can specify that the payment transactions for a bank be automatically numbered and enter a starting number to use for the next payments that are processed. You specify whether the auto numbering applies for all types of payments or only electronic payments. When auto numbering is not turned on, you assign a starting number for each bank's payments in a vendor payment run by clicking Assign Numbers on the Printing and Numbering page in Vendor Payments.

Making Vendor Payments with ACH (NACHA) EFTs

For links to all related procedures for making these vendor payments, see How to Pay Vendors with ACH (NACHA) EFTs, in the Cash Management section of the help.