Export BACS files in Microsoft Dynamics NAV 2017

Hello, everyone. My name is Christos Pittis, and I am a Microsoft Dynamics NAV Consultant. In this episode, I am going to show you how to export BACS files in Microsoft Dynamics NAV 2017.

In Microsoft Dynamics NAV, you can use Bankers' Automated Clearing Service (BACS) to process financial transactions electronically. Bacs is a system in the UK for making payments directly from one bank account to another. The system is operated and managed by Bacs Payment Schemes Limited, a membership organization consisting of 16 of the UK's leading banks and building societies.

 

Types of bank-to-bank payment:

 Direct Debit

 Bacs Direct Credit

 Faster Payments

 CHAPS

To use BACS as the default vendor payment method, you must set export vendor payments to a BACS file using the Export BACS option. The resulting file can then be read by third-party applications to allow electronic bank payments.

You can keep track of BACS events, such as exporting and voiding, with the BACS Ledger Entry table. You can also keep track of BACS transmissions using the BACS Register table.

Open the Vendor Card and scroll down to the Payments fast tab.

In the BACS Account No. enter the default Vendor’s Bank Account No. (PAY TO)

Vendor Card

Make sure IBAN is filled in the Vendor Bank Account Card.

Vendor Bank Account Card

Click OK to close both cards.

Open the Bank Account card (PAY FROM).

Scroll down to the Transfer tab and enter BACS in the Payment Export Format field.

Bank Account Card

Click OK to close the BANK Account Card and go to the Payment Journal.

Payment Journal

Click on Batch Name and place a checkmark in the Allow Payment Export field. Click OK to select the Batch.

Enter the payment line

Click on the Export Payments to file button

Place a checkmark in the Create BACS File field and enter a root directory in the BACS FileName field.

Click Preview.

Viola! The file is now exported, and it can send the Bank.

Exported file

Pay attention to the Exported to Payment File field. It is now checked which means that the file has been exported (at least once) successfully.

Once the Payment is made through the BANK, you can post the transaction in the Payment Journal too.

Check the BACS Ledger Entries

BACS Ledger Entries

The Entry Status is set to Posted.

If you now would like to Void BACS Ledger Entries, you can go to the NAVIGATE tab and click on the Void BACS button.

The Entry Status is now set to Financially Voided.

Thanks for reading this blog post and watching my YouTube video. You can connect with me on LinkedIn https://uk.linkedin.com/in/christospittis or 365 talent portal https://www.365talentportal.com/

Christos Pittis

Microsoft Dynamics NAV/Dynamics 365 Business Central Consultant