Orchid EFT Processing

Sage 300 add-on that reduce processing costs and increase accuracy

What is EFT Processing (Electric Fund Transfer)?

EFT Processing allows you to streamline payment and collection processes by transferring Sage 300 (Accpac) receipts and payments from either Vendor/Customer/Employee and within the US and Canadian payroll. Instead of spending time writing checks and remittance, an EFT batch can be used to email remittance at a fraction of the time spend doing it manually. EFT processing supports forms for hundreds of banks in Canada and around the world.

How It Works

Customize & Processing

EFT Processing can be configured to work with posted or unposted batches or payroll checks. This means you can select the range of batches, pay period end dates, or selected entries. You can even create summary transaction logs to have a scope of your finances! Keep an audit log of changes to Vendor and Customer bank account details. Eliminate old records with periodic processing task to delete inactive records.

EFT File Creation & Banking

Auto-create EFT files in the required format of banks wordwide, for both payments and receipts. Major banks are based on the standard Sage 300 AP payment and customer refund routines. EFT Processing assists you even more by warning you about duplicate accounts, have the ability to define an EFT Clearing bank account to enable bank reconciliations.

Secure & Safe

Keeps banking details for Vendors/Customers/Employees. Requires a 2-step approval process on any changes to Vendors/Customers/Employees. Confidential information such as Bank Branch Code & Account Numbers stored in databases can be encrypted and masked. EFT details are deleted when the associated Vendor or Customer is deleted. Supports Customer Number change and Vendor Number Change.

Benefits of EFT Processing

Additional Sources

Watch Now: EFT Processing Demo/Webinar

duration: 46 minutes | Get a detailed demo of EFT Processing add-on module for Sage 300 AP/AR, including some info on less commonly used features and best practice tips.