The EFT (Electronic Funds Transfer) for Accounts Payable EASY (TM) Solution will save your company time and reduce the cost of paying your bills. You can automatically send remittance notices with all the detail in email and included in the file!
EFT for Accounts Payable creates a National Automated Clearing House Association (NACHA) compliant payment file. When you generate a NACHA file, supporting banks and financial institutions can generate electronic payments for your vender bills and employee expense remittances.
This secure, paperless, payment solution reduces your costs by eliminating the need for paper checks, the cost of labor to stuff envelopes, and the postage cost to mail your payments. Additionally, using EFT provides a traceable payment method that eliminates the delay of physical mail delivery.
This highly-configurable enhancement is flexible and supports CCD, CTX, and PPD formats. The payment files produced by this solution can also include addenda records which identify the bills being paid, and if necessary, a debit record to produce a balanced file. Additionally, the solution generates an e-mail notification for each payment that includes an attachment with the remittance advice.