EFT Processing for Sage 300

Electronic Funds Transfer (EFT) streamlines payment and collection processes and tightens control over bank transfers. EFT Processing transfers Sage 300 receipts and payments through to the electronic funds transfer functionality of your banking software

Features

  • 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.
  • 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 Payer 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.