EFT

Note: You must have the authority, "Edit Agency EFT Information," to access this function.

The EFT node is active after an agency has been saved or when editing an existing agency. This is used to record EFT account information for an agency.

Add an EFT Account

With the EFT node selected:

1. Select Add.

2. When the Add EFT Account screen displays, enter or select:

• Account Use: Agency / Agency Commissions - Select one (1).

• Routing Number: Bank routing number; nine (9) digits.

• Account Number: Bank account number.

• Account Type: Checking or savings account type "Checking" or "Savings."

• Transaction Type: Debit / credit.

Note: You may have up to four (4) total accounts: Two (2) for Agency Debit / Credit and two (2) for Agency Commission Debit / Credit. The EOD EFT file will not include Agency Commission records. This will need to be run manually with an EFT Group of Agency Commission. The regular EFT Group will only include EFT Payments etc., and will not include Agency Commission records.

3. Selecting Cancel exits the Add EFT screen; entries or selections not retained. Choose Save EFT to return the EFT Account Grid View with the account record displayed. The option to designate the account as both "Credit" and "Debit" is available upon saving the EFT record. Respond accordingly to the prompt displayed: "Is this account also the debit (credit) account?" If "Yes" is selected, the EFT Account Grid View returns with the account record displayed twice; once as "Debit" and once as "Credit."

If you are going to pay agency commissions via EFT payments, select this field to place a check mark in it. When selected, it sets a field in the database (EFT Commissions) to "True." If the field is true, when End of Month Processing runs, the Create Direct Bill Process adds an EFT Record to the EFT Records table representing the agent’s commission. If agents receive their commission via EFT, they will not be able to receive it through an actual check or vice versa. Users are able to view this payment in the Agency Activity screen in Diamond. Any EFT payments will have (EFT) prefixing them.

Edit an EFT Account

To edit an EFT account:

1. From the EFT node, select the pencil icon opposite the EFT account being changed.

2. When the Edit EFT Account screen displays, make any changes necessary.

3. Click Save EFT.

Delete an EFT Account

To delete an EFT account:

1. Click the X (red X) opposite the account you are deleting.

2. Answer Yes to the question: "Delete selected EFT account?"

3. The EFT account is removed from the Grid View.

Note: If the account has been established as a credit AND debit account, only the account highlighted is deleted. Repeat the procedure to delete the corresponding account.