Re: EFT in accounts payable history

[pnelson@xxxxxxxxxx]

What are you sending the bank? Do you get a return code from them? I have 
a client who does something similar. The way their software package works 
is that the bank code can be derived in a number of different ways, 
including having a specific bank identified in the vendor master record. 
When the vendors who are getting EFT transactions get paid, the system 
simply treats the EFT transaction as a check number. When the bank 
processes the transaction, they send back a confirmation number tied to 
that "check number". In effect, instant check reconciliation.


Paul Nelson
Arbor Solutions, Inc.
708-670-6978  Cell
pnelson@xxxxxxxxxx





"Jeff Crosby" <jlcrosby@xxxxxxxxxxxxxxxx>
Sent by: midrange-l-bounces@xxxxxxxxxxxx
03/10/2004 06:46 AM
Please respond to Midrange Systems Technical Discussion

 
        To:     "'Midrange Systems Technical Discussion'" 
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        cc: 
        Subject:        EFT in accounts payable history


We will be starting to pay a couple of bills each month via EFT instead of
writing an actual check.  The CEO wants these transactions to show up in 
A/P
history even though we didn't actually write a check, which makes perfect
sense to me.  Over time, I assume we will have more and more of these so 
I'd
like to set it up right.

The simplest would be to add a code to the record indicating it was an EFT
transfer.  Do the rest of you carry some kind of EFT transaction number 
into
history also?  The bank account of the vendor into which it was 
transferred?
<g>

Thanks for any insight.

-- 
Jeff Crosby
Dilgard Frozen Foods, Inc.
P.O. Box 13369
Ft. Wayne, IN 46868-3369
260-422-7531

The opinions expressed are my own and not necessarily the opinion of my
company.  Unless I say so.



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