What is the Direct Credit Export function?
Direct Crediting is the electronic payment of bills, where money is transferred from your bank account to your supplier’s bank account, without you having to write cheques. This saves time, as well as saving money spent on envelopes and stamps.
Cashmanager RURAL will generate a special transfer data file, which can then be imported to your bank’s software. Each bank has their own program requirements in terms of the way the information must be presented. Cashmanager RURAL caters for most of the larger trading banks and can generate files in the format they need.
Before you use the direct crediting facility ensure the following details are in place:
- Your Bank Account Number is entered into the Setup - Bank Accounts screen
- Your supplier’s bank account number, particulars, and payee codes are entered into Setup - Other Party
Once you have these details entered and you have made contact with your bank to ensure you have everything set-up that they need, then you can start to enter in your Direct Credits for payment.
How to create a direct credit transaction
You need to create a new transaction and select the other party (that you have the Direct Credit information setup for).
Once you select the other party a Direct Credit box will appear on the transaction for payment information. Complete the transaction and click Ok.
You will notice that the other party area is now yellow – this is telling you that the transaction is ready to be exported for Direct Credits.
How to export direct credit transactions
Once you have entered in all of your Direct Credits, from the Transaction screen click the Export menu and select Direct Credits. This will bring up a Direct Credit Export window, check the details, ensure the Folder (output directory) is correct and click on ok.
This will automatically create the export file and then produce a report on your screen showing all transactions involved in the export.
IMPORTANT: Once the report window has been closed you will not be able to retrieve this report again, so we strongly recommend you print this report and keep it on file.
Once the export has been completed you will notice that the other party name is now highlighted blue. This indicates the transaction has been exported and paid.
Within the Direct Credit Export window, there is a “select” tab - This shows all the payments to be included in the export. You can de-select items by un-ticking them in the pay column if you want to pay them at a later date. It also shows what the bank account balance will be after the payments have been made.
DON'T FORGET: You still need to import the file into your banking system in order for the bill payments to be made. If you would like help with this process, please contact your bank.