In the Payroll and Accounts sections have an option for paying wages/invoices via Electronic Funds Transfer (EFT) rather than just by Chq

• ADMIN RESPONSE

  Jan 17, 2019

  EFT currently exists for paying accounts and invoices (bills) by selecting the Bank (Online) option - see attached image. 

  The use of the word 'CHEQUE' is simply a naming convention that goes back to the beginnings of the application. You can in fact think of the CHEQUE form as any payment method (EFT, Petty Cash etc...). In essence... it simply records money leaving a particular bank / asset account. 

  

  Payroll is a little different. If the employee has a Pay Method of Bank (Online) in their employee record, the payment will be sent to the Online Banking Centre automatically when the pay is created.

  

  TIP: To avoid seeing a cheque number on the employees paycheque, in the Review and Create Payment screen > select Assign cheque numbers to handwritten cheques > type EFT or Direct Deposit (or wording of your choosing - no numbers) in the text field for First Cheque Nu...

  

  This method can also be used any time a cheque number is requested however you do not want the transaction to be send to the Online Banking Centre for payment with an ABA file. eg. Pay Bills by cheque.

  Summary

  • If you do NOT want to create an ABA file to use with your online banking, and you do not want cheque numbers to appear on a Reckon Accounts cheque form, use the 'pay by Cheque' option and replace the cheque number with the text EFT.

   

  

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