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EFT DIRECT
PAYABLES
Sage Accpac EFT Direct Payables is
a simple yet powerful add-on
that allows you to process direct
deposits for major banks and
trust companies in Canada and
the United States. It allows
you to manage payables with improved
reliability by preauthorizing
amounts for payment to specific
vendors.
Benefits
For you:
- Eliminates the administrative
costs associated with check
production and reconciliation
- Reduces postage/delivery
costs
- Improves payment accuracy
through reduced data entry
- Provides greater cash flow
control: payments are made
on the day that they are due
- Reduces bank service charges
- Improves relationships with
vendors
For your vendors:
- Eliminates the time and cost
involved in check deposit
- Reduces worry about checks
being stolen or lost
- Eliminates
the possibility of being
passed a "bad" check
- Makes
funds available on the day
payment due; no "check
is in the mail"
Key Features
- Multiaccount — for
firms dealing with vendors
whose products/services are
purchased from different divisions
and to whom payment would be
made to another account (as
many as three accounts at any
institution)
- Multibank — firms
that deal with more than one
bank because of separate divisions
can send files to several banks
by simply changing bank number.
EFT Direct Payables will call
up the proper bank layout.
- Ideal for recurring
payments utilities,
regular deposits to vendor
accounts for such important
services as service contracts
for equipment, bank charges,
medical and health insurance
- Not just for vendors! an
excellent way to administer
payments for commissions, benefit
checks, etc.
How it works
EFT Direct Payables allows you
to import your vendor list from
Accounts Payable into the EFT
Direct database without modifying
your existing data. You then
enter the vendor's bank information
(as many as 12 institutions/accounts
per vendor).
EFT Direct Payables extracts
payment transactions from the
payments batches (posted or unposted)
that you specify and creates
a direct deposit file. This direct
deposit file is then transferred
to your bank where it is processed,
moving cash from your account
into your vendor's account.
Payment information can be extracted
for more than one company and
combined into a single direct
deposit file.
EFT Direct Payables allows you
to control access by user.
Compatibility
Sage Accpac 100 ERP Edition, Sage Accpac 200 ERP Edition,
Sage Accpac 500 ERP
Edition Accounts Payable version
3.0 and higher
Canadian banks/standards supported:
Alberta Treasury Branch
Bank of Montreal
Bank of Nova Scotia
CPA Standard
National Bank
BC Central Credit Union
Caisse Desjardins, Laurentian Bank
Canadian Imperial Bank of Commerce
First Chicago NBD Bank, Canada
Hong Kong Bank of Canada
Royal Bank
TD Bank
United States banks/standards
supported:
ACH (NACHA) Standard
ACH (NACHA) Non Standard with Offset/Alternative
CSB CoreState Bank
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