Electronic Funds Transfer Module

The Electronic Funds Transfer cash flow management module helps your organization save time and money by issuing vendor payments electronically. Electronic payments are a safe, inexpensive, and predictable payment alternative to paper checks. The Electronic Funds Transfer module is designed to complement the Accounts Payable module and seamlessly integrates with the General Ledger.

Electronic Funds Transfer Processing

• Improve cash flow management—With Electronic Funds Transfer, you designate when payments are taken from your account, making cash flow predictable.
• Easy to set up and use—Easily designate which vendors should receive electronic payments. Process electronic payments using the same easy-to-use select and pay processing method used for Accounts Payable checks.
• Transmit payments directly to your bank—The Electronic Funds Transfer cash flow management module provides a terminal interface that allows you to dial and send your electronic payments from within the Sage MIP Fund Accounting system.
• Notify vendors of payment electronically—Send payment notifications via e-mail to vendors automatically, thereby saving staff time and effort as well as postage.