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Cheques are a thing of the past! The future is B4B
The BankLinks for Business (B4B) software provides an interface between the Financial Accounting System and the facilities provided by the bank of choice for Electronic Funds Transfer (EFT). Payment Transactions and Debit Collections couldn't be easier!
If you're still making payments with cheques then there are significant savings to be made both on your bank charges and in your company's efficiency by changing to EFT. If you already have EFT by using your bank's system then there are still big savings in time and effort to be made by using B4B.
Transfer payment data directly from one computer system to another with B4B rather than re-keying payment data that already exists in your accounting system database. |
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The B4B functionality offers you flexibility in the way your bank payments are made but in the secure environment that electronic funds transfer demands.
The file format may be different at each site but the same look and feel of the software transports around the world.
The Software:
This is quite rightly a sensitive area and the B4B software has been developed with careful attention to security.
Each element of the software is protected by User Permissions so that registered users may only gain access to those parts of the system for which they are authorised. User Groups allow a set of permissions to be conveniently set for a group of people. Users may be moved from Group to Group or may belong to more than one Group where appropriate. And of course User IDs can be removed altogether when a member of staff leaves your company.
Just as importantly sensitive data in the payment or debit transactions, and the Bank Details tables, is encrypted to prevent unauthorised changes. So if anybody tries to make unauthorised changes to the data they'll be prevented from doing so and you'll be the first to know.
Security:
B4B is available for many banks and file formats around the world. Continuity and similarity of look and feel reduce training time and maximise efficiency within your accounts department.
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Bank & File Formats
The data requirements for a file Format can vary quite considerably, mostly in "Bank Details", and it's unlikely your accounting package caters for the collection of Format specific data. Each B4B Format gives you appropriately tailored screens so that you can see exactly the data items you'll need, and then performs detailed and accurate validation of the data as it's input. Any problems can be resolved quickly and won't delay the processing cycle.
All this adds up to fewer errors and less time spent on corrections plus the benefit of maintaining good relations with your suppliers by making payments on time directly into their bank account.
Ease of Use
B4B offers you payment and debit collection management, not just data formatting. You can pay several transactions to the same supplier in one bank transfer or you create one transaction for each of their invoices. This can be pretty handy when your supplier has automated bank reconciliation in use, and they may well offer you a discount if you can deliver transactions this way.
You can create more than one Bank Details for each supplier and apply your own rules as to when each account is to be used.
You can still pay your "miscellaneous purchases" by EFT to avoid the need for any cheques at all if you prefer. Customers often use this feature to maintain "staff expenses" under one account but still make separate payments.
You can set thresholds above which payments shouldn't be automatically generated in case you need additional authorisation for large amounts.
Accounting systems compatibility
B4B is currently available for SunSystems, Microsoft Business Solutions - Great Plains and ACCPAC.
For further information > click here
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