Electronic Funds Transfer (EFT) streamlines payment and collection processes. EFT Processing transfers Sage 300 (Accpac) receipts and payments through to the electronic funds transfer functionality of your banking software.
- Reduced bank transaction fees.
- Process both receipts and payments.
- No duplicated data entry, saving time and eliminating errors.
- Expensive check stationery not required.
- Manage AR Due Dates on Posted Documents to facilitate auto-receipt processing Improved security on vendor/customer bank account details.
- Improved security on issuing checks – no checks lost in the post.
- Reduced postage costs as you can email remittance advices.
- Reduced processing time, instead of taking several hours to print, fold and post checks - an EFT batch can be created, imported and remittances emailed in a matter of minutes.
- Environmental benefits through the reduced use of paper.
- Automatically creates EFT files required by the bank, for both payments and receipts.
- Creates Electronic Funds Transfer files in the format required by many major banks based on the standard Sage 300 Accounts Payable payment and customer refund routines.
- Creates Electronic Funds Transfer files for receipts (direct debits) from customers using receipt batches.
- Ability to define an EFT Clearing bank account, to enable bank reconciliations by EFT transfer total.
- Warning if duplicate EFT bank branch codes and bank accounts are entered for Vendors or Customers.
- Holds vendor and customer banking details.
- Optionally stores vendor’s bank account details by remit-to code.
- Optionally stores vendor and customer bank account details by Payor Bank.
- Works with numerous Bank formats worldwide. User definable Bank formats and screen labels to reflect Bank terminology.
- When generating bank files, optionally elect to skip or error on vendors or customers who are not defined in EFT Processing.
- Summary transaction log.
- Audit log of changes to Vendor and Customer bank account details.
- Remittance advices can be emailed using standard Sage 300 functionality; specific email contacts possible for EFT Vendor Payments and EFT Customer Direct Debits, instead of AP Vendor or AR Customer e-mail contacts; Remittance advices can be sent via SMTP and SSL.
- Periodic processing task to delete inactive records.
- Clear down EFT Details when associated Vendor/Customer is deleted.
- Configure to work with posted or unposted batches.
- The ability to have an e-mail cc to keep copies of e-mail remittance advices.
- Configure to select from a range of batches or selected entries within a batch.
- Define default remittance advices.
- Approval process with enhanced security for amending customer and vendor bank account details.
AR Receipt Generation
- Automatically create customer receipts and associated bank files from AR invoices.
- Option to change Invoice Due Dates on posted AR Invoices.
- Automatically create AR receipts from transaction balances. Select by document date, due date, customer range, customer group, customer optional field and optionally group by National Account, (amongst other selection criteria).
- Enhanced Create Receipt batch functionality for National Accounts.
- Developed in the Sage 300 SDK providing its look and feel.
- Standard Sage 300 security, customization capabilities, data integrity checking and more!
- Supports Customer Number Change and Vendor Number Change.
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