Cheque fraud and theft has become rampant, and can
cause your company untold expense and hours of wasted time, not to
mention the stress, aggravation, and feeling of vulnerability when it
happens.
Paying your
vendors by EFT has these benefits:
- prevent cheque fraud
- fast and efficient
- save on postage, envelopes, pre-printed cheque stock
- save the time and the hassle of stuffing envelopes and mailing
- secure
Even with the bank fees for processing EFT payments, you will still
save money over processing and mailing cheques. And also gain the added
security of paying your bills electronically.
Why use Wildwood Canada's EFT application?
- EFT is not available in BusinessVision
- It is far more flexible, comprehensive, and easier to use than
Spire's EFT implementation
- It is flexible, easy and intuitive to use, placing the entire
process under your control (except you must still upload the EFT
file to your bank, of course)
Wildwood Canada's EFT application supports paying your vendors as well
as receiving PAD payments from your customers. In the feature list
below, where you see "vendor" please read that as "vendors and
customers."The following features are available in Wildwood Canada's EFT
application:
- Process vendor payments and pre-authorized debits (PADs) from
your customers
- Canadian and US dollar payments
- Payments to both Canadian and US banks
- Many EFT formats are supported, including Telpay
- Supports Payee Match and Positive Pay, which are cheque-verification
services provided by banks under various names
- Interfaces seamlessly with Spire and BusinessVision (no import
or export in Spire or BusinessVision is ever necessary)
- Multi-currency, multi-user, multi-company, multi-batch
- Process multiple EFT batches at once
- Retrieves Accounts Payable and Accounts Receivable from Spire
and BusinessVision, using your
choice of four different methods: select records from each
individual vendor, select all invoices due by a certain date, select
all invoices that are "x" days old, or retrieve a Batch Payables list
from Spire or BusinessVision
- Posts payments to Accounts Payable and Accounts Receivable, links and closes paid items,
and posts to the general ledger
- Supports BusinessVision/Spire divisions
- Payments are posted to a clearing account for the total, and a
journal entry is automatically made to reallocate this total to your
GL bank account.
- Email vendors/customers with an attached PDF
remittance advice, with numerous
email options, user-configurable email subject and body text, allows
for resumption of partially emailed batch. Emails may be previewed
before they are sent.
- Email via Outlook (Desktop) or SMTP
- All generated filenames are user-configurable
- Supports Spire Customer and Vendor code change
- Individual user login and many options for security and division of duties
- Full control over FCN series (file control numbers)
- Flexible and configurable with many options
- Optional approvals process allows clerical staff to prepare
payments batches, which must then be approved by a selected user
with more rights prior
to creation of EFT file, posting, and emailing
- Complete history kept of all payment batches; a closed
batch can be reopened from history
- Reports
- Import vendor and customer bank account information from Excel
during setup, or use the bank account info from Spire (Canadian
banks only), as well as email addresses
- More features are being added
- One time purchase price for unlimited use, annual software
updates fee does apply
- This is NOT a cloud application, and it is NOT SaaS (Software as
a Service.
Supports both Spire and BusinessVision For more information please
contact Wildwood Canada |
