EFT File Auto-Creation poplar_autoeft - tailored

The EFT File Auto-Creation customization automates the creation of EFT files, selection of EFT ready batches, and sending of remittance advices to Vendors.

This customization is generally used as the final stage in an end-to-end payment automation workflow. Once the workflow solution has approved and posted the A/P batch, this customization handles the creation of the EFT file and sending of remittances.

Business Case

This customization often serves as the final step in a larger automation solution for A/P payment approval workflows.

A Payments Approval Workflow solution, such as Extender Workflow, is used to handle the approval of payment batches. Once the batches are approved and posted, this customization automatically creates the EFT files for the batches.

It is a key component in a complete, end-to-end, payment approval and posting workflow for EFT users.

How does it work?

The customization is run at interval using Process Scheduler. On startup, it identifies all Posted A/P Invoice Batches for all enabled A/P Payment Codes that have not yet had an EFT file created.

A new EFT file is created for each batch and can optionally be sent directly to the bank. For each posted entry, a Remittance Advice is automatically sent to the Vendor.

Features

Automate EFT File Creation:

• automates the final stage of payment process after approvals are complete;
• users select which payment codes trigger EFT file creation;
• automatically send remittances to vendors for all successful entries;
• in database logging of created entries, failed entries, and emails sent.

Pricing

The EFT File Auto-Creation customization must be tailored to fit the customer environment. There is a one-time development cost in addition to the base cost for the customization. For a free assessment and quote, contact us.

The EFT File Auto-Creation customization is offered either on a monthly subscription or a perpetual license.

For more information or to buy a license, contact us.