Administration, Core Financials, and Project Accounting

[BeGreene]

We recently upgraded to v7.3, and are anxious to begin making EFT/ACH pymts to vendors.  Problem:  no remittance advice to send to the vendor/employee to let them know a pymt was made, what invoice was paid, its date, what discount was taken, and the net amount of the payment.  We were told there is nothing in the system, and that a custom Crystal Report would need to be written.  Has anyone had that report made for them?  Can it be shared?  Or better yet, does Sage have any plans to include a remittance advice in the standard program?  I found an entry in KnowledgeBase, but the engineering status shows a status of CLOSED with no further explanation.  Does that mean its available as an update, or that they've disregarded the request?  Any help would be MUCH appreciated!

[JohnHanr]

We have an enhancement to MAS 500 which pdf/emails the remittance advice.  If you're interested you can speak with your reseller and have them contact us.

Thx. 

John Hanrahan

The Macabe Associates

www.macabe.com

[SHulme]

The plans for the upcoming version 7.4 currently in development do include support for ACH remittance advice as well as the ACH addendum record. Note that these enhancements may be delivered in a product update rather than with the 7.4 release itself, but they are definitely in the queue.

[BeGreene]

Thank you all.  Very much looking forward to the coming enhancement; hoping for the product update delivery.  Will the Sage enhancement include email ability too?  That would certainly make sense, given the electronic nature of the pymt; electronic advice of pymt naturally follows.

[Ralph]

Does anyone know the status of this?  Is it still slated for v7.4, or is there still a chance it will show-up in a v7.3 update?

[MarieH]

I just got off the phone with Sage Support on this issue and the tech guy couldn't see anything.  We are just upgrading to V7.3 and are going into the testing stage.  Currently we are using a solution with BHE that emails a PDF file because there is no EFT in the Canadian version of MAS500 7.05 which we are currently on.  We were assuming with v7.3 that the Canadian version of EFT would have both the banking and the notification.  I asked Rob to get back to me on any status update and said I would check this Forum in the meantime.  When I hear back from Sage, I will post the latest he gives me.

[Ralph]

Any news on whether or not remittance advice made it into 7.4?

Thanks for any info.

[JennyWilson]

Remittance advice will be in the Aug 7.40 PU.  

[Ralph]

Hi Jenny, thanks for the reply.   Can I ask for just a little more detail though?

You say, "remittance advice will be in the Aug 7.4 PU," but what exactly does that mean?   Does that mean that Sage 500 7.4 w/ the August PU will generate remittance advice for ACH/EFT payment transactions and will then leave it up to the Sage 500 user to figure out how to get that remittance advice to the vendor?  Or, will Sage 500 ALSO provide a native way to automatically transmit the remittance advice to the vendor?

Please forgive me if this is a silly question; I am new to the concept of ACH/EFT transactions.

Thanks for any clarification you can provide.

[JennyWilson]

Hi,

We do not currently provide a way to automatically transmit the remittance advise.   It is up for consideration for future release.

Here's the complete description:

Print ACH Remittance in the Activities section of the AP module gives users the ability to print AP check batches with EFT (Electronic Funds Transfer) payment method.  Typically when a user generates an EFT batch (also commonly referred to as ACH – Automated Clearing House), the system is designed to extract all the check information onto a file during post. The system generated file extract can then be submitted to any bank institution as a form of a check payment. During this file generation process however, the user does not have the ability to print a paper copy of the checks.  The remittance screen enables users to print a paper copy of the posted ACH checks and since it is only a copy, all check printouts will have a void watermark.

This functionality however does not automatically transmit remittance to the vendor.