SSI Insights

Cleaning Up EFT & Export File Folders

Cleaning Up EFT & Export File Folders

June 16, 2022

The EFT Folder

For those using EFTs, the EFT sub-directory file folder might be getting a little crowded, packed with all those old EFT files. After a few days, you don't need them. So why let the folder get crowded with all of those old EFT files you don't need? Have you ever gone back and actually looked at any of those old EFT files? Probably not. They're encrypted, so they won't be accepted at the bank after a couple days anyhow. And remember - SSI has all the paid history for Accounts Payables/Vendor check writing in AP05 ‐ Vendor/Expense Inquiry, as well as for Revenue Payables owner check writing in RP26P ‐ Owner/Well Inquiry.

Where is the EFT folder? Find it in your SSIF/EFT directory. Double click to open and see all the EFT export files.

Clear out the clutter. If you're uncomfortable, keep maybe the last 6 months of EFT files. Older than that? Delete them ‐ don't waste your computer file space, not to mention heading off possible security issues. It's a good idea, and there's no need to have those old files. You can get everything you need from the SSI paid history. Check amounts, vendors, etc., and all at your fingertips.

The beauty of EFTs! Are you using EFTs to pay vendors and owners? If not, consider the benefits! EFTs alone save time, and save money on postage and check stock. It's a WIN-WIN.

And EFTs coupled with the ability to email backup? This process makes the check writing process of collating, folding and stuffing SO. MUCH. FASTER. Much more efficient, not to mention the monetary savings on postage, paper, and envelopes. EFTs with the ability to email the backup is truly one of THE MOST EFFICIENT ways to save time and money. WIN-WIN-WIN!

Skeptical? Let us prove to you the SAVINGS! Type SAVINGS into your SSI Expert box (top right of your main SSI screen). Select the JIB/Revenue company, answer a few brief questions, select the blue printer icon, and an SSI Mail Analysis report will be magically presented for review. You'll be surprised at the results.

FYI - the EFT files that SSI generates are in the standardized NACHA (National Automated Clearing House Association) format, which conforms to all bank requirements. There are some small tweaks for individual bank requirements, such as “Balanced File Yes/No” (an unbalanced file shows the payees bank account info and dollars only, versus a balanced file which shows the payees bank account info and dollars and also the payer bank account info and the total dollars being paid). And different banks have different “Control Record 9” requirements (which is basically telling the bank that it is the end of the file). Confusing? Maybe, but SSI has all of the options covered. Your bank will know and can give you the answers for their specific requirements. All you do in SSI is pick the correct option and SAVE. Easy!

The Export Folder

About that… did you know? Every time you export an SSI report to Excel, a copy of the Excel spreadsheet (including 1099 Export files) is saved in the SSIF/Export directory. Unless you've already done some house-keeping, every single export ever executed will be there. Waste of space ‐ especially since you've probably done a SAVE on any Excel spreadsheets you want to keep and storing them elsewhere. Therefore, the Export folder just has more clutter that can be deleted.

  • Sidenote on 1099 Export files ‐ in accordance with our SSI Oil & Gas Accounting Software 1099 Year-End processing checklist ‐ you should be making a copy of your 1099 Export file. Store the 1099 Export files in a separate location on your server or on a flash drive. Unless you're re-naming the 1099 file SSI creates, it will get written over next year anyhow. Per our 1099 Year-End checklist, for historical purposes move it or copy it to a safe place.

  • A SHAMELESS PLUG for using the SSI Checklist. Where is it? Easy to find. From the main SSI menu click Help, then Checklists from the drop-down. See the Year- End folder? It's got everything you could ever want and need to know on 1099 and Year-End processing. We are diligent in our review and updates on the Year- End documentation and instructions, and we modify as needed for necessary changes, etc. Use it! It can save your life!!!

Fun facts ‐

  1. For fast and easy access to the SSIF directory, try this. Use the Explorer tab at the top of your main SSI screen. Click Explorer and File Explorer from the drop down. Double click the EFT or Export sub-directory ‐ and voila! You're right where you want to be!

  2. Sort your EFT file by date. Simply click on the Date Modified column heading. Sort oldest to newest to review and delete the oldest EFT files. Clicking on the column headings works for other things to ‐ like clicking on the Name column heading to sort alphabetically. That might help when reviewing the Export folder.

Contact us! We have lots of ways to help you make your SSI Oil and Gas Accounting Software more efficient and work for YOU. SSI is dedicated to making your job easier.

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