AR Electronic Funds Transfer

The Accounts Receivable Electronic Funds Transfer App was built to add Direct Debit/EFT for Receivables Management functionality to the North American version of Microsoft Dynamics 365 Business Central.

What is EFT?

EFT is Electronic Funds Transfer. Money is transferred directly between banks, removing the need for a physical check to be sent and received to start the transfer of money.

Why EFT for Receivables?

This enables the direct receipt of payments from your customer's bank accounts. No need to wait for a customer to make check run or wait for the check in the mail. Entries are made directly in Microsoft Dynamics 365 Business Central and the EFT file are generated and are then available uploaded to your bank.

AR Electronic Funds Transfer - Required Setups

• Install AR Electronic Funds Transfer

• Required Setups

• Define banks

• Data Exchange Definitions

• Import Data Exchange Definition

• Export Data Exchange Definition

• Company Information

• Customer Card

• Customer Bank Account Card

• Bank Accounts

• Cash Receipt Journal

AR Electronic Funds Transfer - Processes

• Create Payment

• Export Payment Remittance Advice

• Generate the EFT File

• Void EFT File

AR Electronic Funds Transfer Video

Learn about the AR Electronic Funds Transfer app features: AR Electronic Funds Transfer App Video