21st Century Payroll for Adagio Tutorials - Accounts

Record Payments made with Electronic Fund Transfers (EFT)

Record and track payments made using EFTs. In Adagio PR, EFTs are maintained in a manner similar to checks. There is a payment type EFT is available wherever checks are available. Adagio PR maintains separate numbering for EFTs and defaults to the next available number. You can do anything with EFTs that you can do with checks, e.g. view on the check register, void or renumber them. You can enter them in Remittance Checks and Direct Deposit. Please note that in order to assign an EFT number to a Remittance Check, you must turn off the 'Print Checks' button in the 'Select Remittance Vendors' box.

Support for EFTs doesn’t include actually making ACH transmission. That is handled by the vendor. Most banks offer a ‘bill paying’ feature which handles the actual transmission. Another option is to make payment on the vendor’s web site.

To get started, set a starting EFT number in Bank Configuration. Adagio PR will maintain the EFT number as you enter EFT transactions, the same way that it maintains check numbers. EFT numbers are prefixed by ‘EFT’to differentiate them from check numbers e.g. EFT6000. EFTs will show in bank reconciliation and the check register with the prefix ‘EFT’. You will be able to reference EFTs in all the places that would be expected. Wherever appropriate, any field that says ‘Check Number’ will now accept an EFT number.

Go to Accounts/Bank Accounts
Enter a starting EFT number

EFTs will show on the check register with a prefix of EFT.