A target in FinDock determines through which bank (or Bacs service bureau) the transaction is routed for collection. Bank statements are only imported and processed for bank accounts that are defined targets in Findock.
So, before you can execute Bacs Direct Debit runs or import bank statements, you need to define at least one Bacs target.
To make creating targets easier, we recommend gathering the required details before you start creating targets. The following table includes all the settings for a manual Bacs target. A manual target generates Standard 18 files and uploads them to Chatter for manual file exchange with your bank.
|Name||The name of the target should be something that is recognizable within your organization. This name is not shown outside of your organization, but it is used to distinguish easily among different accounts.|
|Target||The payment extension to be used with this target. For Bacs targets, select PaymentHub BACS.|
|Type||This is the Bacs implementation to be used with this target. The type affects which settings are needed for the target and how the target is used. Select ‘Manual’ for a Bacs bank that uses Standard 18.|
|Bank Account Addition||The sort code for your bank|
|Bank account number||Your bank account number|
|Collection file lead time (days)||The lead time between submission and processing of collection files; contact your bank or service bureau for this information|
|Company name||The name of your organization as it will appear to your customer (max. 18 characters)|
|Company Service User Number||In order to execute a Bacs Direct Debit, your organization needs to have a Service User Number (SUN). This number is provided by your sponsor when setting up a direct debit contract.|
|DDI lead time||The lead time between submission and activation of your DDIs; contact your bank or service bureau for this information|
|DDIs per payer file||Limits the number of DDIs in a single payer file. Leave at default unless otherwise instructed.|
|Transactions per Collection file||Limit the number of transactions per collection file. Leave at default unless otherwise instructed.|
|Number of generated files||Used to generate a deduplication number for your service bureau or bank. If you didn't use Standard 18 before, enter 0 (zero). Otherwise, ask your financial officer what the last used value in the Standard 18 file was at location UHL1 record, position 38-40.|
To create a Bacs target:
- Launch the FinDock app and select Setup.
- Click the ProcessingHub tile to open up the ProcessingHub setup page.
- Click on the Targets tab and click Add Target to create a new target.
- Add the name for the new target, select ‘PaymentHub BACS’ for Target, and for type, select MANUAL for Standard 18 file exchange via Chatter.
- Once you select Type, you are taken to the target settings window where you can fill in the rest of the settings and click Save.
- If you need to change the settings later, you can go back to the Targets tab, click the button to the right of the target and select Settings.
- Repeat steps 1-5 for each new account.