EFT file created in old standalone EFT software rejected / returned by bank

CAUTION: 

Note: Start your company file in EFT and login as sysadmin

Method 1:

Part 1: Verify company bank information is correct

1. Select Company Profile, then Company Maintenance.
2. Verify that all information in this section is correct, specifically the Bank and Originator Number.
   • Refer to How to set up a company profile in the Sage 50 EFT Direct 2013 to 2016 stand-alone application
3. Select EFT button on bottom right of Company Maintenance Window.
4. Double-check that all the numbers listed in this area are correct (This information can also be gathered from a cheque from the institution client wishes to have setup for EFT transactions).
   • Abbreviate needs to be the same as previous version of EFT
   • Institution No. for Returns: consists of 3 parts 0-001-01234
   • One digit always a 0 (0 = Canada, 1 = USA)
   • Three digit institution ID (i.e.: Bank of Montreal: 001)
   • Five digit Branch Transit Number: (i.e.: 01234)
   • Account No. for Returns:
     • This is the bank account that you wish to have money withdrawn/deposited into

Part 2: Verify employees bank information is correct

1. Select the menu Employee, then Employee Maintenance.
2. Verify that all the information listed in this area for each employee is correct.
   • Institution No. for Returns: consists of 3 parts 0-001-01234
     • One digit always a 0 (0 = Canada, 1 = USA)
     • Three digit institution ID (i.e.: Bank of Montreal: 001)
     • Five digit Branch Transit Number: (i.e.: 01234)
   • Bank Account:
     • This is the bank account of the employee to deposited funds into

Part 3: Verify Generation # is correct sequence

• You will need to remember the last number in the sequence that you sent to your banking institution.

Note: If you are unsure contact your bank to find out what sequence number you are in.

Method 2:

Type in the bank information in Company Maintenance, then Vendor/Customer/Employee Maintenance.

Note: Do not copy/paste.

Method 3: Verify format is correct.

• Refer to How to set up a company profile in the Sage 50 EFT Direct 2013 to 2016 stand-alone application

Method 4: File rejected because vendor bank account was invalid

1. Go to the Vendors module to open the payment transaction.
2. Void the transaction.
3. Create the payment again.
4. Generate EFT file for vendor again and upload to the bank.
5. Check the Direct Deposit log:
   • Reports, Banking, Direct Deposit Log
   • Ensure the bank account used is correct for all the vendors

How do I reverse / void a transaction?