Orchid EFT Processing

Orchid


Tired of spending endless amounts on resources used to mail invoices and cheques?

Electronic Funds Transfer (EFT) developed by Orchid Systems streamlines payment and collection processes and tightens control over bank transfers.  EFT Processing transfers Sage 300 ERP receipts and payments through to the electronic funds transfer functionality of your banking software.

 

Orchid Software Solutions’ objective is to consolidate business experiences, technical skills, and varying levels of knowledge. Orchid provides total satisfaction to customer through their commitment to quality and business excellence, ensuring that all professionals understand client perspectives, while working with you from start to finish in order to provide the solutions that best fit your business needs.

 

Benefits:

  • Reduced bank fees
  • Process both receipts and payments
  • No duplicated data entry
  • Manage AR Due Dates on Posted Documents to facilitate auto-receipt processing
  • Improved security on vendor/customer bank account details
  • Improved security on issuing cheques – no cheques lost in the mail
  • Reduced postage costs - Canada Post has announced that the cost for a single stamp will be going up to $1.00!  You will still be able to buy bulk postage, but the cost is still going to be around $0.85 
  • No more cost for expensive cheque stock
  • Reduced processing time –  instead of several hours to print, fold, and post cheques, an EFT batch can be created, imported and remittances emailed in a matter of minutes
  • Works with numerous major banks worldwide
  • Automatically creates EFT files required by the bank for both payments and receipts
  • Ability to define an EFT Clearing bank account to enable bank reconciliations by EFT Transfer total
  • Warning if duplicate EFT bank branch codes and bank accounts entered for Vendors or Customers
  • Summary transaction log
  • Audit log of changes to Vendor and Customer bank account details
  • Remittance advices can be emailed using standard Sage 300 ERP functionality; specific email contacts possible for EFT Vendor
  • Clear down EFT Details when associated Vendor/Customer is deleted.

Integration:

  • 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


 Orchid Software Solutions Website

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