EFT Trust Transfers

Modified on Mon, 12 Feb at 6:18 PM

Problem

Where is the payee for EFT trust transfers located?

Solution

The payee for the trust transfer looks at the entity id located on the Company Codes - Accounting parameter, e.g. Company 2; where Company 2 is your trust bank. You need to confirm the bank account details for this Entity.

In the example above where Company 2 is used:

Go to Parameters > Accounting > Company Codes - Accounting. Select Company 2 - see below
Take note of the entity id for that Company
Then go to that Entity Id
Go to the Other tab where the Bank Account details are stored
Have a look at the bank account details for that Entity
This is where the transfer of trust monies will go to
If it is your trust bank you will need to modify it to be your general bank account