Automated banking is the preferred method of payment in CFPwinMan. It provides a quick and easy method of paying your clients, reduces human error and simplifies bank reconciliation.
The steps below outline how to set up automated banking and BACS for exporting and uploading to your online banking, for payments to your Landlords, Contractors, Tenancies and Tenants.
A folder called Autopay should already be created in the Data folder within your WinMan32;\SQL directory. This will have been created on install.
This article includes:
- Set up automated banking preferences
- Set up Landlord and Contractors bank details
- Set the default payment type for new records
- Set up agency account
- Set up agency account for multi office users
- Create a payment file to upload to your bank
- Automated banking formats
Set up automated banking preferences
- Click Information on the main toolbar
- Select Banks from the dropdown menu
- Select the bank you wish to set up the AutoBanking functionality for
- Click Automated Banking Preferences
- Type Name - Select the relevant AutoBanking type, including any other format options as necessary (i.e. Sage is the format to use with Metro Bank)
- File Ext – Once the bank is selected, a File Extension type will be displayed. For example .txt, .sif or .csv file ext
- File Path - This is where the file that you send to your bank is created. This should automatically complete to show the path from your Network drive to the Autopay folder
(If a different user performs the payment, you may want to store it on a shared drive, for example: W:\WinMan32\Database1\SQL\AutoPay\) - Click Save & Exit
To produce your auto banking file, please see Create a payment file to upload to your bank below.
Set up Landlord and Contractors bank details
- Double click Landlords from the side menu
- Click the first active Landlord in the list
- Or select a Branch if multi branch is set up on your CFPwinMan
- The Landlord Information will display. The Bank Details tab will already be selected
- Payment Type - Select AutoBanking from the dropdown menu
- Sort Code - Add the Landlords sort code to which you deposit their funds
- Account Number - Add the Landlords account number to which you deposit their funds
- Account Name - Add the Landlords account name to which you deposit their funds
- Reference - Add a reference such as the property address or your agency name for the landlord to identify where the money has come from on their bank statement
- BDC Number (Beneficiaries Debtor Code) - Check with your bank and enter a code if required
- Itemised AutoBanking Payments - If your Landlord owns several properties, associated with this Information record, each time you create a Landlord Payment, the updated amount will remain separate for each payment being made on the AutoBanking file
- Click the disk icon, Save this record, on the toolbar
- Repeat these steps for every active Landlord, and, repeat these steps for every active Contractor, but note that Payee Name replaces Account Name
Set the default payment type for new records
Note
You will need access to User Defaults, to edit your default settings. These can be accessed by those who have the correct permissions
You can set up a default, so all new records added to your database are already selected as a Payment Type of AutoBanking.
For more information on Can I set receipt and payment types as a default on records, click here
Set up agency account
Note
You will need access to User Defaults, to edit your default settings. These can be accessed by those who have the correct permissions
- Click Defaults on the main toolbar
- Click User Defaults from the dropdown menu
- Click Information
- Scroll down to Agency Account Information
- Sort Code - Add the agencies current account information, NOT client account
- Account Number - Add the agencies current account information
- Account Name - Add the agencies current account name
- Reference - Add your agency client account name to identify where the money has come from on your bank statement
- BDC Number (Beneficiaries Debtor Code) - Check with your bank and enter a code if required
- Default Payment Type - Select AutoBanking from the dropdown menu
- Click Close
Set up agency account for multi office users
If your agency has Multi office switched on, the agency account information is accessed in a different way.
Note
You will need access to User Defaults, to edit your default settings. These can be accessed by those who have the correct permissions
- Click Defaults on the main toolbar
- Click User Defaults from the dropdown menu
- Click Passwords
- Click Multi office settings
- Click on your branch from the side menu
- Click Branch Details
- Multi Office Settings will display. Click Locate Agency Account, the ... to display a list of accounts, then select to insert
Create a payment file to upload to your bank
Once the set up steps above have been completed and arrangements confirmed with your bank, you are ready to generate an AutoBanking file to upload to your online banking for payment.
- Click Postings on the main toolbar
- Click Miscellaneous on the toolbar
- Click Print auto banking report from the dropdown menu
- A list of payments, selected as AutoBanking Payment Type will display. This can be filtered as follows:
- Any entries appearing in red will identify those who have some AutoBanking details missing. The details missing message will confirm which record it is referring to
- All items are selected ready to process
- Items can individually be deselected by removing the tick
- Select or deselect by Type - Remove or add a tick to each category to include or exclude from the payment file
- Any items deselected will remain on the list until they are ticked and processed
- Batch Details
- The next batch number will be allocated, enabling you to search for a batch in the future
- The date of payment is today
- Select the bank account if using more than one
- Select the payments you wish to include and click Update. The following messages will appear:
- Do you want to update now - Click Yes to confirm
- Are you sure you want to update - Click Yes to confirm
- The operation cannot be reversed, do you want to continue - Click Yes to confirm
- Payment File Store As - Displays the file location which the report will be saved - Note the name of the file. To retrieve when uploading to your online banking, click OK
The updated batch and its total will appear on the bank reconciliation as a Batched Payment. You can then import the file into the software provided by your bank to process the transactions.
For more information on Bank Reconciliation, click here
Note
If you have more than one client account, you can set up an AutoBanking path for each bank account
Automated banking formats
Displayed below in alphabetical order, are the automated banking formats currently available in CFPwinMan, with a single payment example for each of them.
Normally your bank should give you guidance on which format to use. Some banks will accept multiple formats, but are likely to have one that is preferred. You may also be restricted depending on which product/service you use, some formats might provide expedited transfer of funds and may also incur further charges from your bank.
Note
If you are in doubt about which format to use, or other implications, contact your bank for advice in the first instance
When using auto banking for the first time (or changing format), we recommend that you test a transaction before, for example, running multiple landlord payments. You can do so by adding yourself to the database and paying a negative fee for £1. Alternatively, pay one of your favourite friendly landlords who will co-operate in the event something goes wrong.