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EFT (Electronic Funds Transfer) for Payables Management makes it easy to pay your vendors electronically via ACH, rather than printing manual, ... Resources&Insights/Blog/TechnologySolutions/ElectronicFundsTransfer(EFT)forPayablesinDynamicsGP ElectronicFundsTransfer(EFT)forPayablesinDynamicsGP January15,2021 By: LBMCTechnologySolutions Categories: TechnologySolutions WhatisEFTforPayables,youask? Well,itisareallyeasywaytopayyourvendors electronically,ratherthanprintingmanual,paperchecks. Payeestypicallypreferthismethodanditwillhelpyoureducecheckfraud,uselesspaper(savingtheenvironment!)andsaveonpostage. Youwillalsogainsomeefficienciesinyouraccountingdepartmentbycuttingdownontimespentonmanualtasksassociatedwiththecheckprintingprocess. SendinganEFTratherthanacheckfromMicrosoftDynamicsGPdoesnotdiffermuchfromyourcurrentprocessesatall. Oncesetup,allyouhavetodoiscreateanEFTbatchinsteadofacheckbatch,generatethefile,uploadittoyourbank,andthebankdistributesthefunds…that’sit! TogetpreparedtosetupEFTforpayablesinMicrosoftDynamicsGPthereareafewstepstotakebeforegettingstarted. First,contactyourbank,astheymayneedtodosometestingofyourfileformatsbeforehand. Next,gatherbankinginformationfromthevendorswhowanttobepaidviaEFT. Hint,usetheWriteLettersfeatureatthetopoftheVendorMaintenancewindowtomakeyourlifeeasier. Finally,setupthefileformatwithinMicrosoftDynamicsGPtomeetyourbank’srequirements,thatiswherewecomein,letushelp! WhatisEFT? EFT (ElectronicFundsTransfer)forPayablesManagementmakesiteasytopayyourvendorselectronicallyviaACH,ratherthanprintingmanual,paperchecks. SendinganEFTratherthanacheckfromMicrosoftDynamicsGPdoesnotdiffermuchfromyourcurrentprocessesatall. Oncesetup,allyouhavetodoiscreateanEFTbatchinsteadofacheckbatch,generatethefile,uploadittoyourbank,andthebankdistributesthefunds…that’sit! EmailremittancesareavailabledirectlyoutofGPforyourconvenience.WithEFT,youcanreduceadministrationcost,simplifybookkeeping,increaseefficiencyandgaingreatersecurity. Benefits Payeestypicallypreferthismethodasitisquickerandyouareabletoprocessinvoicesandpaymentsfromanywhere. UsingEFTwillhelpyoureducecheckfraud,uselesspaper(savingtheenvironment!)andsavemoneyonpostage,envelopes,checkstockandevenprintertoner. Asanaddedbonus,you’llspendlesstimeonmanualtasksassociatedwiththecheckprintingprocesssoyoucanfocusonotherpriorities. Learnmoreaboutother underusedfeaturesinMicrosoftDynamicsGP. InterestedinImprovingYourCompany'sProductivity? Wewouldlovetohearaboutyourspecificneeds. ContactUs PrivacyOverviewWeusecookiesonourwebsitetogiveyouthemostrelevantexperiencebyrememberingyourpreferencesandrepeatvisits.Byclicking“Accept”,youconsenttotheuseofALLthecookies.Donotsellmypersonalinformation.CookiesettingsACCEPTPrivacy&CookiesPolicy Close PrivacyOverview Thiswebsiteusescookiestoimproveyourexperiencewhileyounavigatethroughthewebsite.Outofthesecookies,thecookiesthatarecategorizedasnecessaryarestoredonyourbrowserastheyareessentialfortheworkingofbasicfunctionalitiesofthewebsite.Wealsousethird-partycookiesthathelpusanalyzeandunderstandhowyouusethiswebsite.Thesecookieswillbestoredinyourbrowseronlywithyourconsent.Youalsohavetheoptiontoopt-outofthesecookies.Butoptingoutofsomeofthesecookiesmayhaveaneffectonyourbrowsingexperience. Necessary Necessary AlwaysEnabled Necessarycookiesareabsolutelyessentialforthewebsitetofunctionproperly.Thiscategoryonlyincludescookiesthatensuresbasicfunctionalitiesandsecurityfeaturesofthewebsite.Thesecookiesdonotstoreanypersonalinformation. Non-necessary Non-necessary Anycookiesthatmaynotbeparticularlynecessaryforthewebsitetofunctionandisusedspecificallytocollectuserpersonaldataviaanalytics,ads,otherembeddedcontentsaretermedasnon-necessarycookies.Itismandatorytoprocureuserconsentpriortorunningthesecookiesonyourwebsite. SAVE&ACCEPT
延伸文章資訊
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