Not ODBC.
Yes, I import a file generated from Vantage into the Bank's online software.
We use online software from our bank for creating the ACH batch of
transactions for our A/P direct deposit transactions just like our Payroll
transactions. So yes, we enter the invoice in Vantage, select it for
payment, and a paper transmittal form is generated after checks are printed,
so I can attach that to the invoice. Our bank statement lists the batches
sent (as opposed to the individual transactions) and Vantage generates a
separate series of check numbers for those transactions. So everything
reconciles in Vantage's bank reconciliation with the bank's statement. I
print the "Payment Entry Edit List" (check register) before I post. Haven't
had a payment go astray.
Works better than payroll direct deposit because the electronic remittance
statements print AFTER the checks so we can insert plain paper again.
Did I answer all the questions? This works great for us.
Deb Wilmoth
Controller
Reeder & Kline Machine Company, Inc.
Vantage 5.0
-----Original Message-----
From: Edward F. Fox, Jr. [mailto:
efox@...]
Sent: Thursday, March 25, 2004 3:10 PM
To:
vantage@yahoogroups.com
Subject: RE: [Vantage] PAYING VENDOR ELECTRONICALLY
Are creating a file to transmit to the bank? Is it ODBC or what? Did you
have to do anything special with your bank?
What internal controls ensure that wires that are recorded are sent?
I assume you print some sort of paper advice to match to the invoices.
Please tell me more.
Edward F. Fox, Jr., CPA
Controller
Maxson Automatic Machinery Company
Phone: 401-596-0162 x110
Fax: 401-596-1050
www.maxsonautomatic.com
-----Original Message-----
From: Wilmoth, Deb [mailto:
Deb@...]
Sent: Thursday, March 25, 2004 3:01 PM
To: '
vantage@yahoogroups.com'
Subject: RE: [Vantage] PAYING VENDOR ELECTRONICALLY
Would like to pay as many vendors as possible electronically. In the past
month, I've been looking into why 2 checks haven't cleared. What a waste
of time that doesn't exist with electronic payments!
I get their ABA routing number, their checking account number and away we
go! One less check in the mail to get lost!
What did you want to know? Vantage in 5.0 doesn't have a field set up for
the ABA routing number....so I use another field for that info. They DO
have a place for the swift #. Think global!
Deb Wilmoth
Controller
Reeder & Kline Machine Company, Inc.
Vantage 5.0
-----Original Message-----
From: Dina M. Hieber [mailto:
dhieber@...]
Sent: Thursday, March 25, 2004 2:52 PM
To:
vantage@yahoogroups.com
Subject: [Vantage] PAYING VENDOR ELECTRONICALLY
Importance: High
Does anyone pay their vendors electronically? Can you please give me
some insight? I'm not sure what questions to ask yet - so anything would
be helpful.
My boss thinks this would help our a/p person but I think this will create
more work for her? Any insight would be greatly appreciated.
Thanks.
Have a Nice Day,
Dina Hieber
Vamco International, Inc.
Phone (412) 963-7100
Fax; (412) 963-7160
www.vamcointernational.com
[Non-text portions of this message have been removed]
Useful links for the Yahoo!Groups Vantage Board are: ( Note: You must have
already linked your email address to a yahoo id to enable access. )
(1) To access the Files Section of our Yahoo!Group for Report Builder and
Crystal Reports and other 'goodies', please goto:
http://groups.yahoo.com/group/vantage/files/.
(2) To search through old msg's goto:
http://groups.yahoo.com/group/vantage/messages
(3) To view links to Vendors that provide Vantage services goto:
http://groups.yahoo.com/group/vantage/links
Yahoo! Groups Links
[Non-text portions of this message have been removed]
Useful links for the Yahoo!Groups Vantage Board are: ( Note: You must have
already linked your email address to a yahoo id to enable access. )
(1) To access the Files Section of our Yahoo!Group for Report Builder and
Crystal Reports and other 'goodies', please goto:
http://groups.yahoo.com/group/vantage/files/.
(2) To search through old msg's goto:
http://groups.yahoo.com/group/vantage/messages
(3) To view links to Vendors that provide Vantage services goto:
http://groups.yahoo.com/group/vantage/links
Yahoo! Groups Links
Useful links for the Yahoo!Groups Vantage Board are: ( Note: You must have
already linked your email address to a yahoo id to enable access. )
(1) To access the Files Section of our Yahoo!Group for Report Builder and
Crystal Reports and other 'goodies', please goto:
http://groups.yahoo.com/group/vantage/files/.
(2) To search through old msg's goto:
http://groups.yahoo.com/group/vantage/messages
(3) To view links to Vendors that provide Vantage services goto:
http://groups.yahoo.com/group/vantage/links
Yahoo! Groups Links
[Non-text portions of this message have been removed]