Once the EF transactions have been processed, all accepted EF transactions are passed to an EFT file generation process (EF ACH Transaction job). This process generates an EFT file in record formats consistent with National Automated Clearing House Association (NACHA) aka the Electronic Payments Association standards. The formats supported by CGI Advantage Financial are:
Cash Concentration and Disbursement (CCD+): Developed by NACHA for the electronic transfer of funds between companies and trading partners.
Corporate Trade Exchange (CTX): An electronic funds transfer format compatible with ANSI ASC X12 that carries information about both payments and transferring values.
Prearranged Payment or Deposit (PPD+): Developed by NACHA for the electronic transfer of funds between companies and trading partners.
International ACH Transactions (IAT): Developed by NACHA for the electronic transfer of funds between countries.
This process only selects those EFT transactions that are greater than zero and includes them in the output file that will be sent to the Banks. For more information on this job, please refer to the associated run sheet in the CGI Advantage Accounts Payable Run Sheets guide for more information about the EF ACH Transaction chain job.