Sage 50cloud add-on payment processing and direct payments

Sage 50cloud Accounting EFT Direct lets you quickly and easily transfer data from your accounting files to your financial institution. You are quickly able to perform employee and vendor direct deposits as well as customer pre-authorized debits. This simple but powerful program makes it easy to use electronic banking to make payments to vendors,¹ receive payments from customers, and pay employees in Canada or in the US.² Using EFT Direct does not change your Sage 50cloud Accounting data in any way. The program reads data from Sage 50cloud Accounting and uses it to create its own files for transmission to your bank, leaving your Sage 50cloud Accounting data intact. Some key benefits of using Sage 50cloud Accounting EFT Direct are:

• Enhanced accuracy
• Lower risk of fraud
• Reduced transaction processing time and costs
• Less delinquent payments

With Sage 50cloud Accounting EFT Direct, you can take advantage of the lowest fees on the market for customer collections, bill payments, and employee direct deposit. By processing payments directly through your bank, cutoff times can be as low as 24 hours before the payment is due. You work directly with your bank – no third party payment processor is required.

Sage 50cloud Accounting EFT Direct is available for Employee Direct Deposit, Vendor Direct Deposit, and Pre-Authorized Debits. A product license fee³ applies. Additional bank fees and setup may apply.⁴

Apply for EFT Direct or call 1-888-261-9610

If you are currently on a monthly subscription, please call 1-888-261-9610 to purchase EFT Direct on a monthly plan.

1. In Canada, this is referred to as EFT (Electronic Funds Transfer) or AFT (Automated Funds Transfer). In the US, these funds are cleared through ACH (Automated Clearing House).
2. All payments in Canada must be in Canadian funds. All payments in the US must be in US funds.
3. Annual fee subject to renewal.
4. You must contact your bank for the information requested in the Sage Simply Accounting EFT Direct setup window. Your bank may apply its own fees. Note: RBC, TD Canada Trust, Bank of Montreal, HSBC, Scotia Bank, Desjardins and Alberta Treasury Branch are just some of the banks that support EFT Direct. Please check with your bank to ensure it works with EFT Direct.

Bank transactions with HSBC automatically sync into Sage 50cloud, saving you time spent entering data.

Reconciling Sage 50cloud with HSBC means you can:

• Get a real-time overview of your transactions
• Save time on manual entry
• Reduce errors
• Set rules to automatically process transactions¹

1. If you have an active Sage Business Care plan you can connect to Sage Bank Feeds immediately. In Sage 50 go to the Banking module, then click the icon Match Bank Transactions dropdown menu and select Connect to Sage Bank Feeds.