Payment File Administration Error: "Error in retrieving bank details. Verify that bank accounts have been assigned to the following entities: xxxx"

Scenario

When this error pops up in Payment File under the Processing Errors field the numbers mentioned in the error pertains to a missing information in the entity (Customer, Vendor, Employee, etc.) whose Internal ID is mentioned.

Solution

To correct the error:

1. View the entity record
2. Under Bank Payment Details > New Entity Bank Details, enter the Bank Information
3. Ensure that desired Entity Bank Details has Type = Primary
   
4. Also Check if the EFT Bill Payment checkbox is marked
5. Click Save

User may then choose to Reverse Payments or Rollback then Reprocess the Payment File Administration. Make sure that there are no other Payment Files in Queue during reprocessing.