How to Get Paid via Electronic Funds Transfer

This Help File Page was last Modified on 05/23/2019

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How to Get Paid via Electronic Funds Transfer

This Help File Page was last Modified on 05/23/2019

An Electronic Funds Transfer (EFT) provides an easier method for your Subscribers to pay, and for you to get paid.

It saves everyone money and time.

It's cost is nominal for both your Subscriber and your Company.

It adds convenience for your Subscribers.

Once it is setup, the process is virtually automatic.

The steps outlined below are meant to provide a quick overview, to give you some general directions.

Each step is explained in detail elsewhere in the related Help File Chapter Links.

 

Microkey Solutions offers InnoEPay as its preferred Payment Gateway provider.

The InnoEPay Setup Process, once completed, offers a virtually automatic Payment Gateway process thereafter.

See the InnoEPay chapter for that information.

 

The Electronic Funds Transfer Process is setup and executed as follows when your Company is not using InnoEPay as its Payment Gateway :

In Bank Maintenance, create a record for the Bank (or other EFT Processing Services) and define the required EFT Information.

 

HelpFilesBankEFTInfoTab

Bank Form - Edit Tab - EFT Info section

 

Create at least one Billing Cycle for EFT (Electronics Funds Transfer) processing.

If more than one EFT processor is used, create a separate Billing Cycle for each.

Assign the Bank that has the associated EFT Information defined, to the Billing Cycle definition.

 

HelpFilesBillingCyclesBankAssigned

Billing Cycles Form - E.F.T. Billing Cycle - Bank assigned

 

Enter the Recurring Billing rules for those Subscribers who will pay via EFT.

Assign the appropriate EFT designated Billing Cycle to each of these Subscribers

 

HelpFilesAutoBillEFTBank

Recurring Information Form - Billing Information section - With an EFT Billing Cycle assigned

 

Run the Recurring Billing for (each of the) EFT Billing Cycle(s).

 

HelpFilesAutoBillingEFT

Run the Auto Billing process for the EFT Accounts

 

Open the Post Auto Drafts Form.

Choose the EFT Billing Cycle

The correct Bank name (which has the associated EFT information) should be inserted automatically.

Check Generate EFT File? box.

Run the process.

 

HelpFilesPostAutoDraftsForEFT

  Post EFT Auto Drafts dialog

 

The file to be transmitted is created automatically using the name you will be asked to specify.

Transmit this file to the Bank in the manner they require.

 

Periodically, print and review the Auto Draft Accounts Report to ensure the information is up to date, particularly checking each Credit Card's Expiration Dates.

 

HelpFilesAutoDraftAccountsReport

Auto Draft Accounts - Options tab