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cdw

Entering a direct deposit payment without using Sage ETF processing

Posted By

I have a very small company and I want to make vendor direct deposits using my online banking account with my business banking account.  I would like to be able to make this entry in the payments module and send an email to the vendor showing the invoice numbers that the payment is for but I do not want Sage making a payment for me.  Is it possible for me to make the direct deposit to my vendor using my bank then make the entry in Payments by selecting the payment method as direct deposit, selecting email so that the vendor gets a copy of the invoices that were paid, then click Process to post the entry.  I would have to put a number of some sort in the  banking information section for the vendor so that the direct deposit symbols in the payment modules are not grayed out.  My concern is would this be going through Sage as an EFT even if I do not have their EFT add-on?  I have been trying to reach someone at Sage for 2 hours and I cannot reach anyone.  Any ideas would be appreciated.  My bank will let me make direct deposits for a very small charge.  With only 4 vendors I do not want to have to purchase the add-on from Sage.

I use Sage 50.

  • 0

    Sage 50 direct deposit is design for EFT Direct or Direct payment services, so if you do not subscribe to service then you can not process it.  You will not able to use Sage 50 process payment through your bank directly without those services.    You can manually process them through the Bank website and record it as direct deposit manually in Sage 50. 

  • 0 in reply to Jason.

    Setup:Settings - Company - Credit Card used.  Create a new one called DD or Debit linking to your bank account and then in the payments journal you will have the option to choose DD instead of cheque. Enter the confirmation # from your bank into the source field. You cannot use the term Direct Deposit because that is already defaulted for Sage EFT add-on. When you click email it will send the vendor a payment stub just like a cheque does listing all the invoices paid. Easy as pie.

  • 0 in reply to AdminMcLean

    In the source I always put "OL" (Online payment) before the confirmation # to differentiate these payments in my bank rec module. 

  • 0

    You can make the entry in Sage 50 and email a copy of the payment method as direct deposit without having to subscribe to the EFT service. In the Vendor record fill in on the Direct Deposit tab your vendor's banking information, and check the Direct Deposit Box. Once this is done when you post the entry in the payments it will show direct deposit and you can e-mail the direct deposit information to your vendor. What you CANNOT do is upload a file to your bank to give the information to the bank, on the bank site you MUST enter all the information manually. If you want to UPLOAD a file to the bank then you MUST subscribe to EFT.

    Below is a screen shot of where you turn this on for each vendor and enter the information. I do believe Sage still allows you to do at least this much. Give it a try!

    I hope this helps clarify things.

*Community Hub is the new name for Sage City