Orchid EFT Processing for Sage 300
Orchid’s EFT Processing transfers Sage 300 AR Receipts and AP Payments to the electronic funds transfer functionality of your banking software.
Remittance advices can be emailed using standard Sage 300 functionality. Because EFT Processing is written in the Sage 300 SDK it can hold all Vendor and Customer banking details. The use of EFT can result in reduced Bank transaction fees, elimination of redundant data entry and errors caused by manual entries and help businesses avoid the use of expensive check stationary. EFT Processing also increases efficiency by processing both receipts and payments in the same transmission.
- 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 SSL.
- Periodic processing task to delete inactive records.
- Clear down EFT Details when associated Vendor/Customer is deleted.
- Elect to work with posted or unposted batches.
- The ability to have an e-mail cc to keep copies of e-mail remittance advices.
- 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.
- Automatically create customer receipts and 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.
- 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, web mode and more!
- Runs on all databases supported by Sage 300.
- Supports Customer Number Change and Vendor Number Change.