This feature is a separate Addon that must be activated on your account first and some set up is required with your bank. Contact your bank for details.
The automated clearing house (ACH) is an electronic funds-transfer system that facilitates payments in the U.S. Versa Cloud can generate ACH file for electronic payments. Check with you bank to see if it can accept ACH files. Each bank might have its own specific requirements on how the ACH file is uploaded and the content of the ACH file. Contact your bank representatives for more information.
The ability to generate ACH file is tied to payment batch for suppliers.
You have to specify your bank details under Setup, EFT/ACH bank information. Enter the necessary information in order to generate the file. If your bank allow you to upload the file via SFTP, you can check the checkbox upload via SFTP. Then enter the details for the SFTP site. The SFTP details must be obtained from your bank first.
Make sure for each supplier to be paid via ACH, you have their bank detail enter into their supplier records.
To pay suppliers using ACH, you use the payment batch feature in Versa
Create a new payment batch by going to Bills Menu, New Pmt Batch. Enter the parameters for the batch like date, account to pay from, payment method. Click on create to start the batch. You will be able to select a list of suppliers who you want to pay. After choose a supplier , a list of outstanding bills would be available for select. Once the bills are selected, you can save it. Then click on the view batch report link to see a summary page. There is a button to post the payment batch at the bottom.
Once the batch is posted, there is a link at the bottom to download the ACH file which is a text file you can open in any text editor. If you are uploading the file via SFTP, there is an option to upload the file to the SFTP site.
Once you send the file to the bank, it will take the bank a few days to process and send the payments. Any issues with the payment will be forwarded by the bank.
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