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EFT file (TAS) vs EFT Payment journal

  • 1.  EFT file (TAS) vs EFT Payment journal

    GOLD CONTRIBUTOR
    Posted 28 days ago
    Hi,

    We had created an EFT journal payment batch and then we transferred this batch information to bank with EFT file in TAS (Treasury Automation Suite).

    One of the lines were rejected by the bank. So the AP clerk return in the EFT Journal to correct the batch, He had changed the "Payment status" of the rejected line to Rejected, and then he delete the line. After he also changed the "Payment status" of all the other lines to None (instead to keep it at Sent). So we cannot Post this Payment journal batch.

    Does someone know how we can correct this situation? Because some amounts were already transferred to bank.

    Thanks

    Richard

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    Richard Malouin CPA, CGA
    Senior analyst
    PSP Investments
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  • 2.  RE: EFT file (TAS) vs EFT Payment journal

    TOP CONTRIBUTOR
    Posted 28 days ago
    Are you able to change the line status back to Sent for the remaining lines and then Post?

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    Christopher Ho Yee
    Altius Consulting
    Richmond BC
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  • 3.  RE: EFT file (TAS) vs EFT Payment journal

    GOLD CONTRIBUTOR
    Posted 28 days ago
    Hi Christopher,

    I already try it, and it's impossible.

    Thanks

    ------------------------------
    Richard Malouin CPA, CGA
    Senior analyst
    PSP Investments
    ------------------------------



  • 4.  RE: EFT file (TAS) vs EFT Payment journal

    TOP CONTRIBUTOR
    Posted 28 days ago
    I believe the proper way to handle a failed payment, is to post the payment journal unaltered.  You should then void the failed payment in the same way you would void a check.

    We've had similar problems with a payment batch getting in a state where it will not post, but the file has been processed at the bank.  I think you need to get the payments back in an unprocessed status, generate a new bank file, but intercept the file on your FileHub server before it is sent to the bank.  Your payment journal will no longer align to the actual file that the bank processed, but the bank account should still reconcile.

    Good luck

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    Mark Schurmann
    Accounting Systems Manager
    Automobile Protection Corp
    Norcross GA
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  • 5.  RE: EFT file (TAS) vs EFT Payment journal

    Posted 28 days ago
    I'm not sure how your transmissions are setup, but you could possibly pause the sending to the bank process, transmit again, and then intercept the file that would be sent to the bank. Or advise the bank that a duplicate file will be sent and needs to be discarded.

    They should see the same payment reference number on the transmission so they will probably already ignore it as a duplicate. At least that's how our bank is with our TAS transmissions.

    Then hopefully the system will put the payments back into a sent status so you can complete the transaction.

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    Geoff Faulkner
    Network and Systems Manager
    Musco Family Olive Co
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