EFT Processing Overview

EFT Processing for Sage Intacct simplifies financial transactions by automating payments and direct debit/receipt processes in a secure and cost effective way. It creates bank-compatible files for vendor payments (AP), customer receipts (AR), and employee reimbursements.

EFT Processing generates payment and direct debit files in the specific format required by your bank allowing you to upload them into your banking system instead of manually entering transactions in the banking software.

If using the SFTP option, you can upload the files automatically to the bank without using the banking software.

EFT Processing supports the following types of Sage Intacct transactions:

  • Accounts Payable (AP): Facilitates payments to vendors and suppliers.

  • Accounts Receivable (AR): Handles direct debit transactions from customers.

  • Employee Expenses: Processes reimbursements efficiently.

Note:

Available features in the EFT Processing application depend on your License code.

Getting Started

To get started with EFT Processing, you need to: 

  1. Obtain the bank specifications for the transactions you process by EFT. Refer to What is a bank specification?

  2. Collect information from your Vendors, Customers and Employees. Refer to Gather vendors, customers and employees bank details

  3. Install the EFT Processing custom components

  4. Add Sage Intacct roles and permissions: Create Orchid EFT Roles

  5. Enter Licence details in Sage Intacct. See details in Installation

  6. Configure Orchid EFT permissions: Add EFT Permissions

  7. Setup EFT Processing in Sage Intacct. Details are available in Setup EFT Banks

Common Questions

EFT Definitions

Getting Started FAQ