Moving to BACS

Moving to BACS is much easier in Arbor Finance online.

There are three steps to this process once you have set up the process with your Bank.

1. Set up your Bank Account as BACS
2. Set up your suppliers ready for BACS
3. Make BACS your preferred payment method

Note:

When asking the bank to set up BACs they sometimes get confused as to what schools need and ask you for the Software Supplier and an SFP number. These details are only required where the software integrates directly into the Bank software. For the schools purposes, you will upload a file into the bank portal which does not require a SFP number. Just be clear with them what you need!

Set up your Bank Account as BACS

1. Go to the System menu and choose System Setup.
2. Click on the Bank Details tab.
   
3. Click the Edit button (pencil icon) for the bank you want to set up as the BACS bank. You will be presented with details of your bank.
4. Click the Allow BACS payments toggle.
   
5. From the BACS Transfer format choose the format for your bank. If you are not sure please contact your bank.
   
6. Finally save your changes and the bank will be marked as BACS on the menu of banks.
   

   Note:

   If you are using Lloyds commercial please choose the Lloyds - multiple standard CSV. This file format should also be displayed on your online banking screen, when you select the file type to import. If this is not present, please contact Lloyds directly. They may need to add a new import type to your online account. ie MAP Name - RMFINANCEBACS, Description - RM Finance Multiple Standard CSV.

   

Set up your suppliers ready for BACS

For each supplier you wish to pay by BACS you will need to turn on the option and enter their bank details.

1. Click the Records menu and choose Contacts.
2. Use the search option to find your supplier and click on them to highlight the supplier.
   
3. Edit the supplier by clicking the pencil icon on the right.
4. Tick the BACS checkbox.
5. Another tab will appear next to the General Tab says BACS. Click this to enter the supplier's BACS details. You can leave the Cheque option ticked if you want to allow a printed cheque to be used as an alternative to BACS, the system will default to BACS.
   
   Typically the 'Bank Account Name' will be the same as the details that appear on the Full Name on the General Tab. ie if you're paying TTS, the Full Name on the General Tab will be TTS, and the same would be entered on the BACS tab as the Bank Account Name.
   
   Where a supplier gives instruction that the bank account to be paid is different, you would set up an alternative pay with the General Details showing the name of the alternative payee, and the BACS details showing the same Bank Account Information. Please see Alternative payees for more information.

   

6. Click Save to complete.

7. Repeat for your other suppliers as required.

Make BACS your preferred payment method

1. Click on the System menu and then choose System Settings.
   
2. On the Organisation Details Tab Click Edit on the right hand side (pencil icon).
3. On the payment settings tick the Payment Settings to make BACS the preferred payment method.
   
4. Click Save and the set up process is complete.

Setting the Payment options to BACs

1. In the System > system set up area click the Options tab.
2. Then choose the Transactions sub-tab.
3. Change the Payments Printing option to On, Cheques/Bacs
   
   
4. Click Save to complete.