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Sage 50 CA Electronic Funds Transfer (EFT) Configuration

direct technique is frequently utilised to save costs and save time. This procedure involves the immediate transfer of money across accounts. Direct deposit is the name of it. These transfers from the accounting files to the financial institution in Sage 50 follow a straightforward process. Since paper files are not necessary for such data transfer, it becomes one of the most important ways to send money. The Powerbookllc team has developed the benefits of Sage 50 Canada EFT direct and its related information. Sage 50 Support Number is open round-the-clock for more assistance.

What Does Sage 50’s EFT Direct Mean?

The Sage 50 DFT directives make it simple to transfer data from banks or financial institutions to accounting files for direct deposit and fund withdrawal. Using the electronic fund transfer to make payments, receive payments, or pay employees is easy with the eft direct process. Direct deposit works just well with the data changes in the Canadian Sage 50 edition!

How Does Sage 50 Accounting’s EFT Direct Work?

CA Sage 50 Without affecting the data in the company file, EFT instructs the system to read the information from Sage 50 and use it to create the tailored files for the transmission process to the bank. The bank uses the ACH (Automated clearing house) network to handle EFT payments. This service connects each and every financial institution and credit union in the US. The ACH frequently handles EFTs in batches. Senders must supply certain details, such as the recipient’s account number, bank name, kind of account, etc., in order to effectuate an EFT-based payment.

To use this functionality, make sure you have an EFT direct licence. The steps to install the Sage 50 EFT direct are as follows:

  • Download the EFT direct file
  • Locate the Setup and double-click on it
  • It will start the installation wizard automatically
  • Next, follow the installation instructions that appear on the page
  • Once you are done with the installation process then restart the system

Setup for Sage 50 Canada EFT Direct?

  • Deploy the Sage 50 EFT straight first
  • If you’re using Windows, click on the Start button and then choose programmes.
  • Hit Sage 50 EFT Direct
  • When using the application for the first time, it will ask you if you need to establish a new company file. Click the Yes option.
  • Next, follow the next button
  • Enter the company information, then configure the application according to the user manual, or a page displaying the previously configured company file list will appear.
  • Now choose the company file that you need to open and then hit open
  • Make changes to Sage 50’s files. If you have already set up a company file, the application will begin an automatic import process that includes any embedded customers, vendors, or staff into Sage 50. Additionally, it checks the Sage 50 deleted files and presents a prompt asking if you want to confirm deleting any records from the Sage EFT direct.
  • If you are using Sage 50 CA release 2014 or advanced then set up the security settings
  • For this, you need to fill in the user credentials that have been provided rights to access the third-party system

Users can check and pay employee salaries via direct deposit by following the step-by-step Sage 50 Direct Deposit setup instructions.

Sage 50 Payables EFT File Generation

You will find the identical procedure when performing payroll generation for current EFT file users. Thus, the following actions must be taken after opening the company file before creating the EFT files for the vendor and customer:

Direct EFT for Accounts Payable and Receivable

  • Open Payments or Receipts first, then select the customer.
  • Now complete the payment amount section for the invoice that has to be paid and the transaction posting.
  • Make sure the purchase or sales invoices have the “Pay Later” option selected.
  • Set the paid by drop-down button to “cheque” if you want to consider the payment posting in the invoice.
  • Then begin publishing the transaction after writing the check number.
  • Once you are ready to complete the file generation in EFT, the payment will not appear when you select cash in the drop-down list labelled “paid by” in the payment method.
  • The next step is to create the EFT file after finishing the payment posting in simple accounting.
  • So, shut down Accounting and then start EFT.

Once the EFT window has been opened, you must do the following actions to create the Receivables EFT file:

  • Initially hit on the File Generation tab
  • Click EFT direct A/R generation option
  • By default, the radio button is set with a transaction date however you can fill the date range according to the customer payment recorded in the company file
  • In case you need to find by receipt number then you can hit the radio button and then select the receipt number range you need to search with
  • Give click on the tab named Continue
  • Next, there will appear a new window on the screen with all the customer payments details within the date and the specified receipt range
  • So you can either place a checkmark through a double click in the field below the column named select
  • For the payments you need to add in this generation file you have to choose the field named select all near the bottom left corner of the page to choose all the payments
  • Now hit on the tab named generation to create the generation file
  • It will display a message specifying the EFT report will be printing
  • Once you print the reports then there will appear a window asking “Please confirm. Was the EFT file generation completed successfully?”
  • Hit the “Yes” button and you’ll get another window that displays the location of the generated filename
  • You need to hit on OK button
  • Once the file has been generated successfully then follow the further steps of uploading the generated file to the bank
  • File uploading will enable the bank to direct deposit the money

EFT Direct errors, issues, and failures in Sage 50 Canada

Here are the actions to take if the Sage 50 Canada EFT direct setup or file generation fails to fix the problem with the EFT direct:

  • Open the Sage 50 file
  • Now take a backup of the same
  • Once you successfully created the backup then hit the Maintenance button
  • Click Clear data
  • Choose Clear Paid Transactions
  • Click Clear paid customer transactions
  • Verify the option named Include inactive customers and then delete the lookup data for all paid transactions
  • Hit the Select All button
  • Now run the report named customer aged detail to check there appear no duplicate receipt numbers, quotes, or commas in the receipt numbers.
  • Set the right date on the button named clear transactions paid/Before
  • Hit OK

If the direct issue triggers payroll generations then follow the below steps:

  • Launch the Sage file
  • Now create the backup
  • Choose Maintenance, hit Clear Data
  • Click Clear Paycheque Details
  • Clear any employees who have not been paid in the previous 7 Years

Additionally, support for fixing Sage 50 Error problems and issues that arise when setting up an EFT in Sage 50 Pro, Premium, and Quantum accounting is available with just one click via Sage 50 Live Chat.

Frequently Asked Questions (FAQ)

What Should I Do If Sage 50 CA Needs To Generate A Payables EFT File?

Select the EFT Direct A/P generating button after selecting the File Generation button. similar to how you would for creating an EFT file for receivables.

How can I update Sage 50 CA with information on the EFT Direct?

1. Select the Employees menu item.
2. Select the tab for Employees Maintenance
3. Select the Modify option after selecting the Employees tab.
4. Enter the fields and accounts where you need to deposit the employee’s paycheque, such as Active, Direct Deposit, Total Last Amount, and Total Current Amount.

I want to check the Sage 50 EFT Direct Communication, can I verify a test file to the bank?

Yes, you can execute a trial run after the setup is complete. Just make a file and email it to the bank. The bank will then let you know when it was successfully received. To learn more about the specifics of the files you provided, examine the bank records.

If I’m using Sage 50 Accounting Release 2014.1, are I eligible to change the password?

If you are using files from Sage 50 Accounting 2014.1 or the advanced version, you can change the password in Sage 50.

Can I Delete A File Of EFT Direct In Sage 50 CA?

1. Yes for this you need to open the File menu
2. Click Delete filename
3. Hit the Delete button

What Do I Need To Know About Backup And EFT File Names?

  1. The APDIRECT.DAT file for payments to suppliers, PRDIRECT.DAT for payroll, and ARDIRECT.DAT for payments from consumers are the names of the EFT directs files.
  2. On the Company Maintenance panel, the file names could change if any fields in the generation file are modified.
  3. As a backup of the newly formed file, the system automatically creates a history file.

How Do I Refer to the EFT Direct History File?

The first four characters of the file name and four-digit numbers generated on the generating page are included in the file history.