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EFT Payment Stubs

  • 1.  EFT Payment Stubs

    Posted 12 days ago
    Hello all,

    My company is going to start transitioning to EFT payments to vendors. I am wondering if someone can provide me with an example of what kind of remittance stub we will receive once we post the batch in GP? Currently our AP prints paper checks and puts one of the check stubs with the invoice. I am wondering since we will no long have a check stub to put with the invoices, what will we get?
    I would like a example if possible so I have it ready to go once i start training on this topic.

    Thank you!

    ------------------------------
    Amanda Pezewski
    Prevea Health, Inc.
    Green Bay WI
    ------------------------------
    Academy - Online Interactive Learning from Experts


  • 2.  RE: EFT Payment Stubs

    TOP CONTRIBUTOR
    Posted 12 days ago
    Hi @Amanda Pezewski ,

    So the out of the box EFT remittance would look something like below (disregard the VOID and the red voucher number - I just happened to pull a voided example).

    Like most forms in GP, you can modify the EFT remittance (and the history copy - there are two...don't forget the history/reprint version) to look however you want it to look.

    If you're using a third party for payments (like Mekorma), they also have versions available for you to pick from.

    If you're switching to EFT - don't forget that GP can email copies of these remittances to the vendors if everything is set up in GP properly.  It's much easier than having to print the remittances to PDF and manually create the remittance email.

    Thanks,

    Samantha


    ------------------------------
    Samantha Higdon ,CPA,CGMA
    Consultant
    Lagom, LLC
    Carmel IN
    ------------------------------

    Academy - Online Interactive Learning from Experts


  • 3.  RE: EFT Payment Stubs

    Posted 11 days ago
    Thank you Samantha! Do you by chance have the steps to get the remittance emails set up so vendors receive this automatically when payment is generated?

    Thank you!

    ------------------------------
    Amanda Pezewski
    Prevea Health, Inc.
    Green Bay WI
    ------------------------------

    Academy - Online Interactive Learning from Experts


  • 4.  RE: EFT Payment Stubs

    TOP CONTRIBUTOR
    Posted 11 days ago
    Hi @Amanda Pezewski ,

    I'm having a bit of trouble finding the documentation we put together for clients on the topic, but below is a link to another article that does a nice job of walking through the basics with screenshots, etc.

    https://www.mibar.net/blog/how-to-email-ach-remittances-in-microsoft-dynamics-gp/

    Random Notes:
    1.) I generally recommend sending the remittances as PDF's, but there are other options.
    2.) You can have multiple remittance email templates (i.e. utility vendors may need different information than say materials vendors), but each vendor can only have 1 remittance email associated with it by default.
    3.) The hardest part, in my opinion, is getting the vendor emails set up because inevitably that information lives in multiple places (excel, outlook, notes, etc.).

    Take a look at the link an let me know what questions or you have or issues you run into.

    Thanks,

    Samantha​

    ------------------------------
    Samantha Higdon ,CPA,CGMA
    Consultant
    Lagom, LLC
    Carmel IN
    ------------------------------

    Academy - Online Interactive Learning from Experts


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