EFT Payments posting to Bank Register

Question

Is there a way to have the total EFT payment made in Payment Processing post to the Bank Register (credit side) in total.  So, the Debits all record on the vendor record as paid (GL Accounts Payable) and the Credit posts as one total to the Cash GL in the bank register?  Right now, when we do an EFT payment of say 40 items, all 40 items show up on the bank register which I then have to add up to clear to the total on my bank statement.  Help :)

Kevin Brazell · Answer

That's what I was explaining. They designed them individually , just like checks. Would require a complete programming change since you need the individual "EFT Checks" in the register to allow you to void them. Thus each EFT Check has it's own DR/CR based on the invoices you're paying with them, just like computer checks.  You can submit an idea to idea bank but that's your only recourse for FENXT's core ACH workflow.  But if you've not looked into payment assistant, it would mimic this for you in you're register since repay takes all the money as one transaction from your bank.

Peggy Thordarson · Answer

Thanks Kevin.  You can still void payments since the debit side posts to the vendor.  It's just the credit side we want to post to the bank register in total.

Kevin Brazell · Answer

There isn't. It's always worked that way. Partially because each payment is listed so if there is a problem, you can void and remake the ACH individually as needed vs voiding the whole run and remaking all 40 again, which would be problematic if you're bank has executed all that were successful. You could submit it as an idea in the idea bank, but with the ability needed to void them individually, I don't see it gaining much traction to change the established workflow. Now an alternative, if you use payment assistant, they take the money from your account and they do the EFT's themselves to your vendors. In that sense , they take 1 lump sum for each payment run. Would achieve your goal but would have to use the payment assistant to pay the invoices, regardless if vendor is getting EFT, Checks, etc.