EFT Processing

EFT Processing
For Sage 300 ERP (Accpac)
process receipts and/or payments via electronic funds transfer?
Do you need to reduce your payment processing costs?
Do you process direct debits from customers or customer refunds?
Do you
What is 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.
The Benefits
 Reduced bank transaction fees.
 Process both receipts and payments.
 No duplicated data entry, saving time and eliminating errors.
Key Features
EFT Files
 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 ERP 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
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.
 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
 Reduced postage costs as you can email remittance advices.
 Reduced processing time, instead of taking several hours to
print, fold and post cheques - an EFT batch can be created,
imported and remittances emailed in a matter of minutes.
 Environmental benefits through the reduced use of paper.
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
EFT Processing
For Sage 300 ERP (Accpac)
Automate AP payment and collection processes
Reduce costs and increase accuracy
Faster AR collections
More Features
Summary transaction log.
 Audit log of changes to Vendor and Customer bank account details.
 Remittance advices can be emailed using standard Sage 300 ERP
 Elect to work with posted or unposted batches.
 The ability to have an e-mail cc to keep copies of e-mail remittance
 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.
Receipt Generation
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.
Developed in the Sage 300 ERP SDK providing its look and feel.
 Standard Sage 300 ERP security, customization capabilities, data
integrity checking, web mode and more!
 Runs on all databases supported by Sage 300 ERP.
 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
Minimum Requirements
EFT Processing 2012 requires Sage 300 ERP 2012 Accounts
Receivable and/or Accounts Payable.
Further details from your Sage Software Solution Provider.
Copyright © 2012 Orchid Systems. All rights reserved.
All trademarks are registered trademarks or trademarks of their respective companies.
Suite 2 / 273 Alfred Street, North Sydney, NSW, Australia, 2060
+61-2-9925-0383 / Fx +61-2-9955-3926 / [email protected]