Dear Team,

Can you throw me a bit of info on exactly "how ADAGIO EFT works" with Canadian Banks and integration with AP and Band Recon ?

I am 100% Clueless..

Just send me links, I will be good.

Thanks
Edward

Hi Edward,

https://softrak.com/products/financials/electronic-funds-transfer

EFT enables the features in AP that allow vendor bank info fields and the EFT provider settings so that when you create a check run or manual check batch, any vendors with stored bank info can be sent an EFT instead of a cheque. The process creates a text file with all the vendor payments that is formatted for the particular bank you're uploading to. You then have the opportunity to send "Additional forms" (EFT advice) by email to your vendors to notify them of the payment details.

Integration to BankRec really isn't much different than cheques other than the reference numbers are their own sequence starting with EFT-"file number"-"payment number". That way you can multi-select by file number to match against the lump sum withdrawal on your bank statement.

Thank you Dan.

Much appreciated..

Edward