EFT Processing

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

EFT Files

l Automatically creates EFT files required by the bank, for both payments and receipts.

l Creates Electronic Funds Transfer files in the format required by many major banks based on the standard Sage 300 ERP Accounts Payable payment and customer refund routines.

l Creates Electronic Funds Transfer files for receipts (direct debits) from customers using receipt batches.

l Ability to define an EFT Clearing bank account, to enable bank reconciliations by EFT transfer total.

l Warning if duplicate EFT bank branch codes and bank accounts are entered for Vendors or Customers.

l Holds vendor and customer banking details.

l Optionally stores vendor’s bank account details by remit-to code.

l Optionally stores vendor and customer bank account details by Payor Bank.

l Works with numerous Bank formats worldwide. User definable Bank formats and screen labels to reflect Bank terminology.

l When generating bank files, optionally elect to skip or error on vendors or customers who are not defined in EFT Processing.

What is EFT Processing?

Key Features

The Benefits

For Sage 300 ERP (Accpac)

l Reduced bank transaction fees.

l Process both receipts and payments.

l No duplicated data entry, saving time and eliminating errors.

l Expensive check stationery not required.

l Manage AR Due Dates on Posted Documents to facilitate auto-receipt processing

l Improved security on vendor/customer bank account details.

l Improved security on issuing checks – no checks lost in the post.

l Reduced postage costs as you can email remittance advices.

l 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.

l Environmental benefits through the reduced use of paper.

Do you receipts and/or payments via process electronic funds transfer?Do you need to your payment processing reduce costs?

Do you process from customers or direct debits customer refunds?

Orchid's support team has been great! We always received prompt, efficient replies that worked. I would feel very comfortable with

supporting and promoting Orchid's EFT Processing. We have found the product

filled the requirements, easy to implement and use. The AP department was very happy

with the change of products being used for their EFT needs.”

Kimberly Kyle, Traffic Tech, Montreal, Canada

Updated for v2014

For Sage 300 ERP (Accpac)

www.orchidsystems.biz

EFT Processing

Suite 2 / 273 Alfred Street, North Sydney, NSW, Australia, 2060+61-2-9925-0383 / Fx +61-2-9955-3926 / info@orchidsystems.biz

Minimum RequirementsEFT Processing 2014 requires Sage 300 ERP 2014 Accounts Receivable and/or Accounts Payable.

Copyright © 2014 Orchid Systems. All rights reserved.All trademarks are registered trademarks or trademarks of their respective companies.

Further details from your Sage Software Solution Provider.

Automate payment collection AP and processes

Reduce and increase costs accuracyFaster AR collections

More FeaturesProcessingl Summary transaction log.l Audit log of changes to Vendor and Customer bank account details.l Remittance advices can be emailed using standard Sage 300 ERP

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.

l Periodic processing task to delete inactive records.l Clear down EFT Details when associated Vendor/Customer is

deleted.l Elect to work with posted or unposted batches.l The ability to have an e-mail cc to keep copies of e-mail remittance

advices.l Select from a range of batches or selected entries within a batch.l Define default remittance advices.l Approval process with enhanced security for amending customer

and vendor bank account details.

Receipt Generationl Automatically create customer receipts and bank files from

AR invoices.l Option to change Invoice Due Dates on posted AR Invoices.l 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.

l Enhanced Create Receipt batch functionality for National Accounts

Integrationl Developed in the Sage 300 ERP SDK providing its look and feel.l Standard Sage 300 ERP security, customization capabilities, data

integrity checking, web mode and more!l Runs on all databases supported by Sage 300 ERP.l Supports Customer Number Change and Vendor Number Change.

“We are very happy with Orchid EFT Processing. It is so simple to easily automate auto-receipt of large

volumes of Accounts Receivable invoices. The ability to amend the

Accounts Receivable invoice Due Dates and maintain exclusion lists

makes it good to use.”

Kerry Jones, Rural Fuel Limited, Palmerston North, New Zealand