The Sagicor Bank Download was updated to use the new format required by Sagicor. The setup is similar to the old bank download except that there is one extra field BankFld4 - to complete. The following four (4) Download options are available:
- Sagicor Clients
- Other Local Banks
- International Transfer
- Jamaica Bank Download
Step 1 – Set up the Bank Download for Sagicor Bank Jamaica
This first step is the setup of the standard Bank Download that existed already. This setup applies to the following options for Sagicor:
- Sagicor Clients.
- Other Local Banks.
- Jamaica Bank Download.
POWERpay>>Maintenance>>Downloads/Uploads>>Bank Download Setup:
If the Bank Download is already set up, then update the existing record to enter the Payment Details in Bank Fld4 (1.1 below).
1.1 Update Bank Fld4
POWERpay>>Maintenance>>Downloads/Uploads>>Bank Download Setup:
If the Bank Download is NOT set up, then follow the steps below (1.2, 1.3, 1.4) to do so. Please ensure that you enter the Payment Details in Bank Fld4.
1.2 Head Office Mapping Table
Create a Mapping Table for Sagicor Bank Jamaica Head Office and enter mapped values for all Sagicor’s Head Offices. These mapped values are obtained from Sagicor Bank Jamaica.
POWERpay>>Maintenance>>Downloads/Uploads>>Bank Download Setup:
Click New Record. Select Head Office for the Mapping Table Type.
Enter a user-defined Code and Description for Mapping Table Code and Mapping Table Description respectively.
Save and expand the record to enter the Mapped Values for all the Head Offices. Save.
1.3 Payees' Mapping Table
Create a Mapping Table for Sagicor Bank Jamaica Payees and enter mapped values for all Sagicor’s Payees. These mapped values are obtained from Sagicor Bank Jamaica.
POWERpay>>Maintenance>>Downloads/Uploads>>Bank Download Setup:
Click New Record. Select Payee for the Mapping Table Type.
Enter a user-defined Code and Description for Mapping Table Code and Mapping Table Description respectively.
Save and expand the record to enter the Mapped Values for all the Payees. Save.
1.4 Company Link
Link Sagicor Bank Jamaica to the relevant Company.
POWERpay>>Maintenance>>Downloads/Uploads>>Bank Download Setup:
- Company = select the relevant company.
- Bank = = select Sagicor Bank Jamaica.
- BankFld1 = Mapping Table Code for Head Office (as set up in 1.1).
- BankFld2 = Mapping Table Code for Payee (as set up in 1.2).
- BankFld4 = enter Payment Details.
Step 2 - Generate Download Files
Once Step 1 has been completed, navigate to Payroll Reports to generate the four (4) available downloads. There may be details that are specific to each download and these are explained in the relevant section.
1. Sagicor Clients
POWERpay>>Payroll Reports>>Payroll Reports>>Payment Reports>>Sagicor Bank File Download>>Sagicor Clients:
(a) Multi-Currency Filter
Example 1 (Incorrect)
Only one (1) currency per file is allowed. Therefore, if multiple currencies are being used, you MUST indicate if the currency is Local or Foreign for the pay group.
Example 1 (Incorrect)
If multiple currencies are used where the pay group’s:
- Local Currency = TT
- Foreign Currency = USD
Then if the following fields are set as:
- Currency Type = Local (the system will generate the amount in the local currency TT).
- Pay Currency = USD (the system will generate the currency as USD).
The following screenshot shows the results of the Download. Note that the Currency generated is USD but the amount is TTD. This is clearly INCORRECT:
Example 2 (Correct)
If multiple currencies are used where the pay group’s:
- Local Currency = TT
- Foreign Currency = USD
Then if the following fields are set as:
- Currency Type = Foreign (the system will generate the amount in the foreign currency USD).
- Pay Currency = USD (the system will generate the currency as USD).
The following screenshot shows the results of the Download. Note that the Currency generated is USD and the Amount is USD. This is CORRECT
Example 3 (Correct)
If multiple currencies are used where the pay group’s:
- Local Currency = TT or USD or BD or JMD
Then the following fields should be set as:
- Currency Type = Local (the system will generate the amount in the local currency).
- Pay Currency = TT (the system will generate the currency as TT or USD or BD or JMD).
The following screenshot shows the results of the Download. Note that the Currency and the Amount are generated correctly in the Local Currency:
2. Other Local Banks
POWERpay>>Payroll Reports>>Payroll Reports>>Payment Reports>>Sagicor Bank File Download>>Other Local Banks:
(a) Bank Identification Code (BIC)
The Bank Identification Code (BIC) field shown in the screenshot below is determined from the Bank Download Setup and is a concatenation of the Mapped Values from Head Office and Payee:
BIC = 0030503 (Head Office = 003; Payee = 0503)
(b) Updating the Bank Identification Code (BIC)
Two (2) options are available to update an incorrect BIC as follows:
1. Update the Mapped Values from the Mapping Tables.
2. Add a 3rd Mapped Table.
(i) Option 1 – Update the Mapped Values from the Mapping Tables
(a) Navigate to Bank Download Setup:
POWERpay>>Maintenance>>Downloads/Uploads>>Bank Download Setup:
Find the mapped table values in Bank Fld1 and Bank Fld 2. In the above screen these values are JSHMAP and JSPMAP
(b) Navigate to Mapping Tables to update the value for Head Office:
POWERpay>>Maintenance>>Downloads/Uploads>>Mapping Tables>>+Head Office:
(c) Navigate to Mapping Tables to update the values for Payee (Branch).
POWERpay>>Maintenance>>Downloads/Uploads>>Mapping Tables>>+Payee (Branch):
- Expand the Payee (Branch) field you wish to edit. Edit the Mapped Value. Save.
The above screenshots show that the BIC for JS Bank Tunapuna is 0030503 (003 + 0503)
(ii) Option 2 – Add a 3rd Mapped Table
(a) Navigate to Mapping Tables:
POWERpay>>Maintenance>>Downloads/Uploads>>Mapping Tables>>New Record:
- Complete the fields on the screen and Save.
- Expand the record:
In the Mapped Value field, enter the BIC codes for each Payee.
(b) Navigate to Mapping Tables to update the value for Bank Fld3:
POWERpay>>Maintenance>>Downloads/Uploads>>Bank Download Setup:
- Open the record. Enter the same Mapping Table Code that was added in (i) above (PYSWFT). Save.
(c) Download the file again to view the updated BIC:
POWERpay>>Payroll Reports>>Payroll Reports>>Payment Reports>>Sagicor Bank File Download>>Other Local Banks:
3. International Transfer
The wire transfer information must be set up first before the file can be downloaded.
(a) Set up Wire Transfer
POWERpay>>Maintenance>>Downloads/Uploads>>Wire Transfer Form Setup:
Click New Record and complete the fields on the screen to add a new Wire Transfer record. Ensure that the new field Payment Details is completed. Save:
(a.1) Import Beneficiaries
To import multiple Beneficiary information: Click the Download Template to download a blank Excel spreadsheet:
Complete the fields on the Excel spreadsheet paying special attention to the instructions provided:
Click the Import button to import the data:
(b) Download Sagicor Wire Transfer
POWERpay >>Payroll Reports>>Payroll Reports>>Payment Reports>>Sagicor Wire Transfer Download:
4. Jamaica Bank Download
This is the old bank download and the setup is the same as in Step 1
POWERpay >>Payroll Reports>>Payroll Reports>>Payment Reports>>Sagicor Jamaica Bank Download>>Foreign Currency:
0 Comments
Add your comment