EFT Processing

Streamline Sage 300 payments & receipts using Electronic Funds Transfer

"The support we receive from Orchid is top notch, and the Return on Investment was pretty much immediate."

JIM BROMILOW, CORPORATE CONTROLLER, GRANT THORNTON LLP, CANADA

Improved efficiency leads to happier customers, vendors and employees

Savings from reduced stationery, handling, postage and bank transaction fees mean a quick ROI
  • Cut costs through increased automation, improved efficiency, greater accuracy
  • Save time and reduce errors by avoiding duplicate data entry
  • Numerous security features, including audit-logging and encryption of bank account details
  • Have confidence that your cash movements are secure, and would stand up to an audit
  • Hundreds of bank formats already supported, others created on request
  • Reduce exposure to fraud by moving away from paper cheques or streamlining positive pay file processing

EFT Processing Features

The features below (where applicable) are available with both the AP/AR and Payroll editions

EFT File Creation

EFT Processing automatically creates EFT files in the format required by your bank, for both payments and receipts:

  • Creates EFT Payment files based on the standard Sage 300 processing routines, i.e.  A/P Payments, Payroll Cheques and A/R Customer Refunds
  • Creates EFT Direct Debit files based on the standard Sage 300 A/R receipt processing routine
  • Optionally, when generating bank files it lets you elect to skip or error on Vendors/Customers/Employees who are not defined in EFT Processing
  • Summary transaction logs are created

Bank File Formats supported:

  • EFT Processing already supports formats for hundreds of banks, in many countries around the world
  • Supports user-definable bank formats
  • Supports positive pay file formats
  • We are frequently adding new formats, or updating existing ones
  • If the format you need is not currently supported it can be created by Orchid Systems upon request

Remittance Advice and Processing Options

  • Remittance Advices can be emailed, using standard Sage 300 functionality, to EFT-specific Customer/Vendor/Employee email addresses
  • Outbound emails can be throttled or capped to cater for email platform restrictions
  • Can be configured to work with posted or unposted batches or payroll cheques
  • Configure to select from a range of batches, pay period end dates, or selected entries

Security Features

  • Changes to Vendor/Customer/Employee bank account details require a 2-step approval process
  • Extensive Audit logs of changes and transactions created
  • Bank Branch Code and Account Numbers stored in your database can be encrypted - users will only see a masked version of the numbers
  • Optional protection of emailed Remittance Advices using a formula-driven password
  • Periodic processing task to delete inactive records
  • EFT details are cleaned out when the associated Vendor or Customer is deleted

Maintain Bank Details

  • EFT Processing AP/AR holds banking details for Vendors and Customers
  • EFT Processing Payroll holds banking details for Employees
  • Provides a warning if duplicate EFT bank branch codes or accounts are entered for Vendors or Customers
  • Supports user-definable screen labels to reflect bank terminology
  • Optionally stores Vendor bank account details by remit-to code

A Sage 300 Module

  • EFT Processing is developed in the Sage 300 SDK, providing the familiar Sage 300 look & feel plus standard security, customization capabilities, data integrity checking and more
  • EFT Processing stores all data within Sage 300 and integrates seamlessly with AP, AR, US and Canadian Payroll
  • Supports Customer Number Change and Vendor Number Change
  • French language selection supported

EFT Processing Edition Guide

Choose EFT Processing for AP & AR, or EFT Processing for Payroll. (You can also combine both AP/AR & Payroll editions in a bundle. )

EFT Processing for AP & AR

For processing payments & receipts using:

  • Sage 300 Accounts Payable and/or;
  • Sage 300 Accounts Receivable

AP/AR specific features:

  • Option to define an EFT Clearing bank account for AP Payments, to enable bank reconciliations by EFT transfer total.

AR Receipt and Refund Generation

  • Option to change Invoice Due Dates on posted AR Invoices
  • Automatically create AR Receipt Batches and associated bank files from AR transaction balances using highly flexible selection criteria, including the option to cater for National Accounts
  • Create AR Refund Batches to refund credit balances to customers and create the associated bank file
  • Create zero-value AR Receipt Batches to apply open AR Documents: Debit documents (Invoices, Debit Notes, Interest Invoices) can be automatically applied to credit documents (Prepayments, Unapplied Cash, Credit Notes)

EFT Processing for Payroll

For processing payments to employees using:

  • Sage 300 US Payroll, or;
  • Sage 300 Canadian Payroll

Payroll specific features

  • Allows you to split Employee payments into multiple bank accounts, based on flexible rules
  • Supports the emailing of Pay Stubs/Slips, T4 or Relevé 1 PDF documents
  • Provides password protection of those documents (when enabled for EFT Remittance Advices) 

Testimonials

Orchid EFT Processing is much better than what we had in the past with more flexibility, a better user experience, and integration is a bonus...

ALEX ANGUS, SYSTEMLINK AFRICA (PTY) LTD, EDENVALE, SOUTH AFRICA

I would feel very comfortable supporting and promoting Orchid's EFT Processing. We have found the product fulfilled the requirements, and was easy to implement and use.

KIMBERLY KYLE, TRAFFIC TECH, MONTREAL, CANADA

Orchid's EFT is a great product. It reduces costs, while also removing the risk of check/cheque fraud.

PAUL FIELD, NET@WORK, WINDSOR, ONTARIO, CANADA

We are very happy with Orchid EFT Processing...it is so simple to automate auto-receipt of large volumes of AR invoices. The ability to amend AR invoice Due Dates and maintain exclusion lists makes it good to use.

KERRY JONES, RURAL FUEL LIMITED, PALMERSTON NORTH, NEW ZEALAND

We LOVE your EFT Processing product. The reduction in checks has made our lives so much easier. I am so grateful!

KAREN ROBERTS (CPA), CONTROLLER, 14 WEST, USA

Integration with the banks is one of Orchid's main strengths. They do an excellent job of customizing.

JIM BROMILOW, CORPORATE CONTROLLER, GRANT THORNTON LLP, CANADA

The support we receive from Orchid is top notch, and the Return on Investment was pretty much immediate.

JIM BROMILOW, CORPORATE CONTROLLER, GRANT THORNTON LLP, CANADA

I’ve just started using Orchid’s EFT Processing for Payroll to send out T4s by email. It worked PERFECTLY! This will now be my go-to solution for all other clients. Finally, an 'all-in-one' solution for payroll that doesn’t involve multiple products. Thank you to the Orchid team for putting our clients’ needs first.

NICOLE BOILEAU, THE SOLUTION PROVIDER NETWORK, ONTARIO, CANADA

After implementing Orchid’s EFT Processing and Document Management Link for my client, together with Tairox Payment Approval, we were able to quickly provide a solution that supports the social distancing practices and provides COVID-19 relief funds to local businesses.

DENICE LEUSCHNER, SYSERA, CALIFORNIA

I really like Orchid’s EFT for Payroll product, especially the way it emails pay stubs. It was easy to implement, easy to train the client, and gave them a very quick ROI. Way better than their previous solution!

MONA KELLER, BUSINESS TECHNOLOGY SOLUTIONS INC., CANADA

Product Screenshots

Minimum
Requirements

EFT Processing for AP & AR 2021 requires Sage 300 2021 Accounts Receivable and/or Accounts Payable

EFT Processing for Payroll 2021 requires Sage 300 2021 Canadian Payroll or US Payroll

How to buy

Talk to your local Sage 300 partner Send message

International Contacts

Please contact us directly if your business is in the UK, Europe or other regions not listed here. 

North/South/Central America and the Caribbean

Robert Lavery 

Phone: (416) 453-7876
Email: Robert.lavery@sympatico.ca

Address:
Robert Lavery & Associates
14 Woodway Trail
Toronto, Ontario CANADA M8Y 2B8

Asia Region

A-Plus Software Limited (ID#82011633)

Phone: + 852-2366 8392
Email: info@a-plussoft.com
Website: www.a-plussoft.com/en/orchid.php

Address:
5/F Goldsland Building
22 Minden Avenue, Tsim Sha Tsui,
Kowloon Hong Kong

Australia and New Zealand Region

Sage Software Australia - Business Management Solutions (ERP & CRM)

Phone: 137 243 (13 SAGE)
Website: https://www.sage.com/au

Level 11, Zenith Tower B,
821 Pacific Hwy,
Chatswood NSW 2067

Africa Region

Sage South Africa (Pty) Ltd

Phone: +27 11 304 3000
Website: https://www.sage.com/za


6th Floor, Gateway West
22 Magwa Crescent
Waterfall 5-lr, Midrand, 2066

Middle East Region

Sage Middle East

Phone: +971 43900180
Website: https://www.sage.com/en-ae/support/contact-us

Office No. 118 Building No.11
Dubai Internet City (DIC)
Dubai, PO Box 500198
United Arab Emirates (UAE)

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