Electronic payments through electronic funds transfers (EFT) are being accepted and required at more and more businesses. The ease and efficiency of sending EFT payments to your vendors is a drastic improvement over printing a check, stuffing it in an envelope, digging through the desk drawer for a stamp, and getting it to the post office in time to take advantage of a discount.
Let’s not forget the fun of your bank reconciliation when checks clear the bank at the wrong amount or don’t clear at all! Using EFT payment options through your bank has made our AP Offices happy and fun places to work once again.
Recording these EFT payments in your accounting software should be simple and easy too. In this post we are going to explore the different ways you can record EFT payments in Dynamics SL. Whether you are already using EFT in your accounting software, or brand new to the process, you’ll likely benefit from the following.
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