I am setting up our AP to pay by Telpay EFT instead of paper cheques. The only part I'm not sure about is whether I need to set up a Telpay bank or do I just use the Canadian bank that we're paying Telpay with? Does the amount clear when it's processed in Telpay software?

Hi Susan,

EFT setup in Adagio Paybles, whether it's TelPay or direct to bank, is for the entire company. You do not have to adjust anything on the bank records, nor add any new banks particular to TelPay. The setup is on the Vendors so that they can be paid via TelPay (and any bank).

Once the TelPay upload is complete, you will be asked in Payables whether it was successful. If you indicate Yes, then Payables does all the same stuff as if you indicate that Printed checks worked correctly. TelPay itself will not do anything in your Payables data.

To see this in action, there are 2 training videos available, for Setting up EFT and Processing EFT that are only abut 4 minutes each in length.

So, if I pay these out of our Canadian account then I'm assuming I will have to do an online payment out of the same account to transfer the funds to Telpay for the total amount of EFT payments. Since these payments will be posted in AP in the same way as a paper cheque, then I won't need to do an entry for the online payment to Telpay? Am I on the right track?

Exactly Susan,

I have used Telpay internally for several years and the only "issues" I have encountered are:

-- The slight annoyance of having to match several "cheques" to one bank transaction in BankRec.

-- The need to make sure the vendor's account code is entered without spaces (common for utilities).

-- The very occasional vendor who just doesn't "get it" and wants to be paid by cheque (I just pay the extra few cents to have Telpay send them a cheque; its less than the hassle needed in the office to handle the exception.)

--One lawyers' office who would not give me an email address so I could not set them up in Telpay. (I deal with them once a year and make a point of paying them very slowly.)

Ralph/Susan:

In response to Ralph's points:

1. Can be avoided by using a TelPay bank (BR & AP) with an auto transfer in BR

2. Not a big pain.

3. Definitely get TelPay to send the cheque. Way less painful that splitting your payment runs in two.

4. If TelPay is sending a cheque then TelPay does not require an email address.

Thanks for the info, this will help us with the transition to using Telpay for our Canadian vendors.

For international payments, we currently pay by paper cheque for US vendors and bank wire out of our US account for China vendors. Do you recommend going through Telpay for these or do you find it just as easy to use Payline by Ice directly?

Susan:

There is no good solution for paying US vendors. I've been doing the payments manually through TelPay for Business and the doing manual cheques to get the invoices out of Adagio, but I only have a CAD account. In this manner TelPay sends the vendor a payment advice.

TelPay cannot work with a USD account. For clients with higher volume and/or paying from a USD account we have taken a slightly more streamlined approach that see's PrintBoss being used to email the payment advice and the client entering payments through their online bank account.

Susan:

To add to Doug's point about using a seperate Telpay Bank in BR and AP, we noticed that there is one catch to the auto transfer function in Bank Rec. If you don't retrieve the batch in Bank Rec before you do your next Telpay Batch, it will lump the two batches together when it does the auto transfer. It's not the end of the world but when doing your bank rec the bank statemenet will show two transactions where the main bank in Bank Rec will see one.

Obviously most people retrieve their batches regularly but we had one client that was doing multiple payment batches while the person in charge of Bank Recs was off work. So while a rare and minor issue, I thought I'd warn you.

Otherwise we agree with Doug.

Susan:

Should have mentioned that my standard operating procedure is to retrieve into BankRec immediately following any posting in AP or AR that impacts cash.