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Processing EPFs
After setting up EPF profiles
Detailed descriptions of an electronic payment file; after setting up an EPF profile, you are then able to quickly process an EPF using the information described in the profile., you can then quickly process an EPFElectronic Payment File; this action is an automated payment process. That is, a file received from the bank is imported and records a payment on multiple accounts simultaneously. This action creates a series of transactions with the same affect as paying on the account, reconciling the cash drawer, and making a deposit. using the setup information described in the profile.
Processing EPFs is, in most cases, a daily process and can be accomplished in the Periodic Processing area of the Tenant Accounts Receivables program.
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On the Main Menu screen, click PERIODIC. The Periodic Processing screen opens. |
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Select the Daily tab and click PROCESS ELECTRONIC PAYMENT FILE. The Process Electronic Payment File Wizard is initiated. |
Note: Even though the Process EPF option is available on the Daily tab, there are several options of processing EPFs depending on the bank: daily, monthly, and annually.
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Click START, select the electronic payment file profile you want to work with from the drop-down list and click OK. This is your agency-defined list of EPF profiles, which you maintain in Setup. See "Setting Up EPFs" |
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Click NEXT to continue to the next step of the wizard. A window appears where you can browse for the file in your computer’s files. |
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Select the EPF you want to import and click OPEN; the file is validated. |
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Click NEXT to continue. The Electronic Payment File Exception Listing appears. If there are errors/exceptions in the file, they display here. If there are no exceptions, click CLOSE to exit the screen. |
Note: The file will not process if exceptions are found. Please call your bank if there are exceptions and give them the file location of the error.
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Click NEXT. The Electronic Payment File Pre-Posting Listingopens. |
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Review and confirm the electronic payment file details and click NEXT to process the payments. |
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Click NEXT again to display all the payments and, if necessary, SAVE or PRINT the Posting report for your records. You can now post the processed payments to General Ledger. |
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