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Possible to set up EFT transfer from Canada to the USA

  • 1.  Possible to set up EFT transfer from Canada to the USA

    Posted 10-12-2018 12:33 PM
    ​I am a Canadian customer and wondered if GP is set up or can be set up to facilitate EFT transfers from Canada to the USA?

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    Tracey van de Laar
    Accounting Clerk
    Land Title and Survey Authority of BC
    Victoria BC
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  • 2.  RE: Possible to set up EFT transfer from Canada to the USA

    TOP CONTRIBUTOR
    Posted 10-18-2018 06:30 PM
    GP does have multi-currency capabilities but if you have not ever used it.  There is quite a bit of setup that has to happen.  If it was not originally setup as a multi-currency company, GP has to go back and tag all of your transactions to a currency which for some folks that can take some time.  Once that is setup and a US Dollar bank account is setup you can then create and generate EFT's to send.   There are lots of step in all of this so I would say weight the cost/benefit.  Hope that helps.

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    Amy Brown
    Consultant
    S2 Technology
    Boise ID
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  • 3.  RE: Possible to set up EFT transfer from Canada to the USA

    TOP CONTRIBUTOR
    Posted 10-19-2018 11:15 AM
    @Tracey van de Laar - we briefly explored this as well and determined that for the number of Canadian payments we need to do, it wasn't worth the hassle. Instead, we wire the money over and just enter the transaction into GP Payables as a cash payment. Good luck!​

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    Tiffany Ziegler
    Vice President & Controller
    Velcor Leasing Corporation
    Madison WI
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