MicrOpay can generate payments to Creditors (e.g. Health Funds, Unions, ATO) as an .ABA file which can be transferred to your bank in the same manner as EFT payments for wages. The Creditor EFT file contains one record per Creditor detailing the total contributions payable.
Only values calculated after the Creditor record has been created will be included in Creditor EFT Files & reporting. Likewise, when you attach a new Deduction to the Creditor record, the Creditor EFT File and report will only include values from pay periods that occur after you added it.
There are four steps to complete:
Define the EFT Institution - this is the company bank account you pay from. You can use the same EFT record for multiple payroll companies or create different EFTs, one per company if paying from different bank accounts.
Attach the EFT Institution to the Payroll Company.
Create the Creditor Record
Modify the ATO Creditor Record
Skip to Step Three if the Creditor EFT has already been defined and attached to your Payroll Company.
Step One - Define the EFT Institution
Go to Payroll, Maintenance, General, EFT Parameters.
Click Add for a new EFT Institution for Creditor payments or right click and select Copy on an existing EFT, if the Creditor payments are made from the same account.
Enter a unique Code and Institution Name.
Tick Creditor Payments.
Enter or confirm company bank account details in the Identification Information section.
Key a description for the EFT file in General Description of Entries.
Define where the file will be created in EFT File Path.
Enter a unique file name in EFT File Name.
Click OK to save.
Step Two - Assign Creditor EFT Institutions to Payroll Company
For each Payroll Company, you must nominate which Bank Account funds will be drawn to make Creditor Payments.
Go to Payroll, Maintenance, General, Payroll Companies.
Edit the Payroll Company.
Select the EFT Institution in Creditor Details. (Only EFT institutions with the Creditor Payments checkbox ticked are available.)
Enter your ATO EFT Code if intending to remit your PAYG Tax via EFT. This is used as the Reference in the EFT file.
Click OK to save.
Step Three - Set up the Creditor Record (except ATO)
Go to Payroll, Maintenance, General, Creditors.
Click Add to create a new Creditor.
Enter a unique Code, Description and ABN.
Enter the Bank Details for the Creditor, i.e. the Creditor's Bank Account.
Enter the Lodgement Reference supplied by the Creditor (if applicable).
On the Contact Details tab, complete the Contact and Address details. This is optional.
Select the Payroll Companies tab.
Click Select to choose which Payroll Company to include in the Creditor setup.
On the Deductions tab, use the Select button to choose existing deductions that are used to collect the amounts for the Creditor. If the deduction doesn't already existing, you can use the Add button to create it.
Click OK to save.
Note: If the BSB is not available you will need to add it. To do this right click in the BSB Number field and select Add New. Complete the relevant bank details and click OK to update the BSB list.
Step Four - Modify the Creditor Record (ATO only)
The ATO Creditor record is set up by default.
Go to Payroll, Maintenance, General, Creditors.
Edit ATO. You will receive an information pop-up. Click OK.
The Bank Details will already be complete, go to the Payroll Companies tab.
Click Select to choose which Payroll Company to include.
On the Deductions tab, check that your Tax Adjustments have been included.
Click OK to save.
To Generate the Creditor EFT File
Deduction values from processed pay periods will be included in the EFT file.
Go to Payroll, Transactions, Import and Export, Creditor EFT Export.
From the Creditor drop down list, select the Creditor(s) you wish to pay. Superannuation Funds and the ATO must be run separately. All other Creditors can be included in the same file.
Payroll Company and Location default to All. Select particular records if required.
For all Creditors except the Super, the EFT Institution will be greyed out. For Super you will need to select this.
In the Date to be Processed by Bank field, enter the date on which the payments are to be made.
The Process Date lists all processed pay periods which can be included in the EFT file that have not already been paid. When you select a period outstanding amounts for periods up to and including the chosen one will be included.
If this is the first EFT file that you have sent to the bank for this bank account, tick the First Live Run with this Bank checkbox.
Overwrite File if Exists is used when you want to overwrite any existing file on the destination path. If this is not selected, the transactions will be appended to the existing file.
To check the amounts to be paid, click Print or Preview to generate the Creditor EFT Report. The values can be checked against the Payroll or Additions and Deductions Reports.
To create the file, click EFT File.
Click the Close button.
How to check how much is owed to the Creditor
The Creditor Reconciliation Report lists values owed to Creditors for the date range.
Go to Payroll, Reports, End of Pay, Creditor Reconciliation.
Payroll Company and Location default to All. Select particular records from the drop-down lists if required.
From the Creditor dropdown list, select the Creditor(s) you wish to include.
You may produce this report using values from only one Pay Frequency or accept the default for All.
The From Period End and To Period End dropdown fields list all closed pay periods, based on the Pay Frequency Selection. Select the date range required.
Click Print or Preview to generate the Report.
The Report will include all periods within the date range and whether the Creditor has been generated by including a date in the Date EFT Generated.