Processing Electronic Fund Transfers (EFT)
A Cougar Mountain customer recently asked this question:
How do I set CMS up so that I can pay vendors electronically?
A Cougar Mountain System Trainer answered the question:
- Make sure the vendor is set up as an electronic payer. Check the I will be paying this vendor electronically check box and fill in the bank account numbers.
- Go to the Enter Bills window, check the Immediate check box. The Electronic box will appear.
- Fill in the check date and make sure the right bank account is being used. Finish your invoice.
- When looking at the Print Edit report after your save, you will see that the Check # is EFT and it is immediate.
- Now continue down the list and choose Electronic Funds Transfer. This tells the software there will be NO check.
- This will create an EFT number that will not be a duplicate.
- Then run your immediate Check Register:
- Then when you post you will see that it still is an Immediate check but with an EFT check number.
- And the posting report:
Kevin
System Trainer
Leave a Comment