About AFT Electronic Payments
An automatic funds transfer (AFT) is an ongoing banking arrangement whereby transfers from your account are made on a periodic basis.
You can add or edit AFT electronic payment account information in the Account Code File Maintenance screen. See Edit Electronic Payment Account Information.
In Canada, Spectrum follows the Canadian Payments Association Standard 005 format, also known as the 1464 byte format. When you use the Canada (AFT) file format in Spectrum, negative payments are not added to the data file. Instead, invoices and credit memos that comprise the net negative payment are returned to open items during payment updates. See A/P Payment Update.
Note: Spectrum AFT file specifications provide the ability to record negative payments in the Logical Record Type E, however, Canadian banks do not currently support this feature.
