Reduce processing costs and increase accuracy by processing Vendor, Customer or Employee payments and receipts via Electronic Funds Transfer.
These Orchid products improve productivity and increase accuracy, taking the drudgery out of processing complex but routine transactions.
Doing business in the modern economy can be a dizzying experience. How can we expect our books to keep their balance when we are struggling to maintain our own?
Today money moves around the planet at the speed of light, cash is no longer king, and corporate structures are becoming ever more complex. These Orchid products are designed to help you navigate this brave new world, automating or streamlining much of the ensuing complexity.
Orchid EFT Processing lets you create payment and receipt batches from within Sage 300, for submission to your bank via the electronic funds transfer (EFT) functionality of your banking software.
- File formats for hundreds of banks around the world are already supported. If your bank isn’t one of them, we can quickly create new formats on request.
- We support transactions originating not just from Sage 300 Accounts Receivable and Accounts Payable, but also US and Canadian Payroll.
EFT Processing is one of Orchid’s most popular products, with customers reporting an ‘almost immediate’ return on investment. When announcing the retirement of their Sage EFT Direct AR/AP products in 2018, Sage North America recommended Orchid EFT Processing to their customer base.
Inter-Entity Transactions has also become one of our most popular products, and it's not hard to see why. Accountancy staff regularly report they are saving days of effort each month as the deadline for balancing and closing off the books approaches.
- Balancing ‘due to’ and ‘due from’ loan account entries are automatically generated when allocating expenses or revenue across multiple related entities.
- Complex inter-entity transactions can be simplified, with ‘triggers’ configured to automatically generate additional GL, AR or AP transactions.
- Cash Management features can automate the transfer of funds between multiple entities and bank accounts.
Inter-Entity Transactions works within one or across multiple Sage 300 databases. An entity equates to a GL segment, and could be a company, department, branch, fund, project etc. Detailed checks and reports ensure entities always remain in balance.
Inter-Entity Trade automates the flow of transactions in Sage 300 when related entities (companies, branches, divisions etc.) buy and sell products or services to and from each other.
- Reciprocal documents (Sales Orders, Purchase Orders, Invoices, Credit Notes, Payments, Receipts etc.) are created according to business rules you set up.
- When you initiate a transaction in one entity, Inter-Entity Trade creates the corresponding entries in the other.
Transactions are entered once and replicated across entities, eliminating the need to create and check duplicate entries.
Budgeting & Forecasting
Once you've streamlined your payments and receipts processing, and automated much of that laborious book-balancing, you may finally have the more time to get back to more strategic business tasks, like managing your budgets. To see how Orchid products can assist there, see our Budgeting & Forecasting solution page.