This chapter discusses how to set up:
Automatic accounting instructions (AAIs)
Payment formats
Set up AAIs for goods and service tax (GST).
See Setting Up Automatic Accounting Instructions for GST.
This section provides an overview of payment formats for Australia and discusses how to set processing options for the payment format for Australia.
The Australian Payment Clearing Association (APCA) established a standardized electronic funds transfer (EFT) format for all Australian banks. You use the Create Australia EFT Payment File program (R04572OZ) to generate EFT files for Australia in the standardized format.
The Create Australia EFT Payment File program (R04572OZ) writes only credit transactions; it does not write debit transactions.
Required Setup for EFT Payments
Processing EFT payments in Australia involves these additional setup tasks:
Verify that the value P04572OZ exists in the Produce Bank File UDC table (04/PP).
Use the Payment Instrument Defaults program (P0417) to assign P04572OZ to a payment instrument.
Assign this payment instrument to the suppliers that use EFT.
Set up supplier bank information.
Enter the bank/state/branch (BSB) number in the Bank Transit Number field and the reference number that is requested by your supplier in the Reference/Roll Number field. The system writes the value from the Reference/Roll Number field to the Lodgement Reference field in the flat file. If you do not complete the Reference/Roll Number field, the system writes the document number of the payment as the value for the Lodgement Reference.
Note. When you write payments that use the EFT format for Australia, the system generates the EFT flat file in the format that is required by the Australian Payment Clearing Association (APCA) and stores the data in the Text Processor Header (F007101) and Text Processor Detail (F007111) tables.
Processing options enable you to specify the default processing for programs and reports.
EFT
1. Financial Institution |
Specify the value for the financial institution. The system writes the value that you enter to positions 21 through 23 of the EFT header record (Record Type 0). The Australian Payments Clearing Association (APCA) provides approved financial institution abbreviations in its publications. |
2. File Description |
Enter the text that the system writes to positions 63 through 74 of the EFT header record (Record Type 0). The text that you enter should accurately describe the contents of the file. |
3. Indicator |
Enter the one-character code that the system writes to position 18 of the EFT detail record (Record Type 1). The APCA standards specify valid values for this code. Values are: Blank: New or varied BSB (bank/state/branch) number or name details. T: A drawing under a Transaction Negotiation Authority. W: Dividend paid to a resident of a country where a double tax agreement is in force. X: Dividend paid to a resident of any other country. Y: Interest paid to all nonresidents. |
4. Remitter Name |
Specify the name of the person or company that sends the EFT file. The system writes the value that you enter to positions 97 through 112 of the EFT detail record (Record Type 1). The APCA standards state that you must provide this information. |
1. Payment Print Program |
Specify the payment print program that the system uses when the payee prenote status is set to P. If you leave this processing option blank, the system uses the Auto Payment Write/Reset payment print program (P04572). |