The SYSPRO Electronic Funds Transfer (EFT) system provides an accurate and up-to-date picture of your cash flow. It also reduces the risk of fraud and transactional costs associated with beneficiary payments.
The EFT payment system enables you to combine payments for both Accounts Payable suppliers and Cash Book beneficiaries into one bank batch file and choose whether to post Accounts Payable EFT payments to the Cash Book in detail or in summary. It enables you to create electronic payment files of disbursements which you can upload to your bank(s) for processing.
User-defined fields and a custom form option enable the entry of additional information against suppliers, beneficiaries and banks. These are useful if a bank requires additional information which is not catered for by the standard EFT fields.
The amount of information that can be captured and exported from the EFT system means that it should cater for the requirements of banks in any country. A full audit trail, numerous reports and query facilities enable users to interrogate the status of EFT transactions.
SYSPRO Electronic Fund Transfer can be installed standalone or integrated with other accounting solutions in SYSPRO such as Accounts Payable and/or Cash Book.