2020 Sage 50 Premium PAP function

Question

2020 Sage 50 features a PAP function. Does this meets the criteria for Canadian credit unions? I have asked Vancity Savings Credit Union (in Vancouver, BC) if this Sage 50 function is compatible with them. They have sent me a five page specifications document which I have tried to attach here. 
 CPA_Std005_Specs.pdf CPA_Std005_Specs.pdf

Erzsi_I · Accepted Answer

Hello Ron Goyette , Thank you for your post and apologies about the issues reaching us. The best number to reach the Sage 50 CA support team is at 1-888-522-2722, you can hold actively or submit for a callback. You only get the callback prompt 1 time at the beginning; if you hold, you can't then request a callback during that same call session. We have this KB 59479 answering the question of "Is the CPA 005 Standard supported by EFT Direct?" If PAP stands for Payments to Accounts Payable then yes, CPA Standard 005 is supported for payments between yourself and vendors, clients and employees. Note that EFT functionality in Sage 50 CA is an add-on feature (having active payroll service entitles you to the direct deposit / EFT feature for 1-10 employees). Sales is available at 1-888-261-9610 if you need the add-on. Hope this helps answer your questions. Warm Regards, Erzsi

Agate · Answer

Hi Ron: 
 To my knowledge Sage 50 has aligned with approximately 180 Canadian banks, credit unions and caisse populaires. They adhere to CPA Standard 005 when any exchange of financial data takes place. So using EFT either receiving or sending money will work using Sage 50 Accounting. 
 Hope this helps!

Sage 50 Canada

2020 Sage 50 Premium PAP function

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