EFT file in Dynamics 365 Business Central

One of the most asked question is how to create ABA file in Dynamics 365 Business Central and what is ABA file.

First, the Australian Bankers Association (ABA) or Cemtext file format is a format used by banks to allow for batch/import payment transactions.

What does an ABA file look like?

Each line in an ABA file is a "record". An ABA file has three main records, the "descriptive" record, a "detail" record for each transaction and the "file total record" at the end. An ABA record is exactly 120 characters long.

 

Example EFT Transfer File generated from Dynamics BC to be imported into Bank.

 

1.         EFT Bank Code=WWB. This is the EFT Bank Code for World Wide Bank (CRONUS data)
2.         EFT Security Name = TEST Company 
3.         EFT Security No. = 6567890. This is the EFT Security No. for World Wide Bank.
4.         EFT Payments File generated from Business Central – File Name = TEST
5.         EFT Payments File generated from Business Central – Payment Date = 071221

 

To generate EFT file, it is important to populate mandatory fields from Transfer Fast Tab on the Bank Account Card.

 

1. SWIFT Code – Required only if the company is making payments in currencies other than AUD or receiving funds in currencies other than AUD

2.  IBAN – this is only required if the company is making payments in currencies other than AUD or receiving funds in currencies other than AUD

3. EFT Bank Code – this code is specific to each Bank.

4. EFT BSB No. - This is the BSB No. and is the same as the BSB included in General Fast Tab in Bank Branch No. Field

5. EFT Security No. - this is a number specific to each Bank (ANZ, NAB etc.)

6. EFT Security Name – this can be a free text field and usually has reference to the company or to the Bank Account No

7.  Bank Statement Import Format – For Australian companies, it should be set up in csv format as the bank statement needs to be imported into Business Central. As of now, Business Central does not support direct import of the bank file from Australian banks.

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