Sage 300 EFT Processing
Streamline Sage 300 payments & receipts using Electronic Funds Transfer
What is EFT Processing?
Automate the creation of Electronic Funds Transfer (EFT) files for your bank, leading to increased efficiency, accuracy, and security. Eliminate expensive paper cheques and avoid duplicate data entry for a quick ROI. EFT processing is available for AP, AR, and Payroll modules.
Add the power of Python to the Alerts & Workflow capabilities of Extender Configurator
EFT File Creation
Creates EFT files in the format required by your bank, for both payments and receipts:
- Creates EFT Payment files based on the standard Sage 300 processing routines, i.e. A/P Payments, Payroll Cheques, A/R Customer Refunds
- Creates EFT Direct Debit files based on the standard Sage 300 A/R receipt processing routine
- Optionally, when generating bank files, elect to skip or error on Vendors/Customers/Employees who are not defined in EFT Processing
- Summary transaction logs are created
Bank File Formats Supported:
- Already supports 800+ bank formats, from 80+ countries
- Supports user-definable bank formats
- Supports positive pay file formats
- Supports SEPA (Europe) and BPAY (Australia) formats
- We are frequently adding new formats, or updating existing ones
- If the format you need is not currently supported, Orchid Systems can create it
Remittance Advice Processing Options
- Remittance Advices can be emailed, using standard Sage 300 functionality, to EFT-specific Customer/Vendor/Employee email addresses
- Outbound emails can be throttled or capped to cater for email platform restrictions
- Can be configured to work with posted or unposted batches or payroll cheques
- Configure to select from a range of batches, pay period end dates, or selected entries
Security Features
- Changes to Vendor/Customer/Employee bank account details require a 2-step approval process
- Extensive audit logs of changes made and transactions created
- Bank Branch Code and Account Numbers stored in your database can be encrypted - users will only see a masked version
- Optional protection of emailed Remittance Advices using a formula-driven password
- Periodic processing task to delete inactive records
- EFT details are cleaned out when the associated Vendor or Customer is deleted
EFT Bank Details
- EFT Processing for AP/AR holds banking details for Vendors and Customers
- EFT Processing for Payroll holds banking details for Employees
- Warns if duplicate EFT bank branch codes or accounts are entered for Vendors or Customers
- Supports user-definable screen labels to reflect bank terminology
- Optionally stores Vendor bank account details by remit-to code
A Sage 300 Module
- Developed in the Sage 300 SDK, providing the familiar Sage 300 look & feel plus standard security, customization capabilities, data integrity checking, and more
- Stores all data within Sage 300 and integrates seamlessly with AP, AR, US Payroll, and Canadian Payroll
- Supports Customer/Vendor Number Change
- French language selection supported