In
ContactsLaw, the
general payment aggregation activity is used to record bulk electronic funds transfers (typically performed using Internet banking). This type of
transaction aggregation, therefore, only supports the EFT payment method.
Authorised, unprocessed payments of this type will appear in the grid. The payments to include in the transfer are selected using checkboxes and a banking date is added. Sufficient details are provided in order to complete the transfer (i.e. BSB/account numbers,
contact names and the requested bank narration where applicable). The transaction date for all included payments is updated to reflect the banking date. When the transfer has been performed, the bank reference number must be entered. This is then propagated to all included payments.
This aggregation activity also includes the total value of EFT transactions posted thusfar on the banking date, for both the current
member and
the practice as a whole. These totals include the sum of any payments selected in the grid. This allows members to avoid exceeding any daily transaction limits which may apply.
Note: This type of aggregation relies on the fact that most banks provide some sort of bulk EFT facility, and that this mechanism produces a single line on the bank statement. If this is not the case for your bank, do not adopt this type of aggregation. |
Export feature
General payment aggregation includes a facility to export the details of the bulk electronic payment to a file or external application, such as the Australian Banking Association (ABA) direct entry format. With this mechanism, it is possible to automate the online banking step of the process.
See also