Field

.Explanation

Period

Default is the current period.  It is possible to select a prior period that may have been closed before making payment.

Transfer Date

Date that the payment will be processed to employee accounts

Serial Number/ Batch No.

Version 4 layout uses a Serial number, but all other transfers use Batch numbers which are automatically generated by the system to identify the batch being processed.

Version

Select export layout being used.  Previously Computer Society Version 4 (CSV4) was predominantly used, now use the dropdown menu to select the layout used by your bank.

Transaction Code

Select which Transaction Code is being paid.  Most often this will be the 'Net Paid' code.

Receiver ID

Code allocated by your bank to identify your organization.  Many organization's banks no longer require a Reciever ID and process the transfers without it.

Description

Describe the payment being made.  This description will display on your statement for the payment amount as well as on employee statements for the receipt of funds.

Multi Currency Transfer

If employees have amounts calculated in different currencies then tick the box to enable payment in these currencies.  This requires both the employee and employer having bank accounts in these currencies.  If it not ticked the payment will converted and made in the organization's base bank currency

Divide Export Amount By

If the organization requires to pay the amount in installments then divide the export by the number of installments required.

Threshold Amount

If the total transfer amount for all employees should not exceed the threshold amount then any balance exceeding this amount will be carried into a second or subsequent transfer.

Multi Currency Transfer

Tick if the export will be in more than one currency.  For Zimbabwe clients your export will have an ZiG amount and US Dollar amount and the transfers would go to a NOSTRO account for the US Dollar transaction and the ZiG amount would go to the ZiG account.

Set Export File Threshold

This feature is not commonly used.  It was created to allow entry of a maximum value for the total EDI transfer.  

Set Transaction Max Amount

Enable the setting of a maximum amount that should be paid to an individual.  There may be instances where cash flow dictates that higher paid employees should only receive up to a maximum amount then set this limit.  The balance would be paid when it is appropriate, using the 'Net already Paid' Transaction Code to deduct what has already been paid.  

Maximum Amount

Enter the maximum amount that can be paid to an individual.

ID

Enter the Organization ID allocated by your bank for your organization.  Many organization's banks no longer require a Organization ID and process the transfers without it.

Bank

Select the organizational bank from which to make the payment, if there is more than one bank account

Reference 1

Enter any reference for this transaction, the dropdown menu prompts for either the Employee Code or the National ID

Reference 2

Enter any reference for this transaction

Reference 3

Enter any reference for this transaction, normally the company name (especially for Version 4 exports)

Reference 4

Enter any reference for this transaction

Destination

Select the destination file and folder for this export to be sent to.

Export to Excel

Select whether the exported file should be in Excel format or in the standard text format.  Your bank will determine which format is to be sent to them.