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Electronic Funds Transfer Features As you may be aware, the Realty Management System has the ability to process Electronic Funds Transfers for your cheques. You can use EFT to pay vendors, agents, staff, outside brokers, etc... To see a list of default banks we have EFT available for, go into Edit Banks (E.1.4), and on the Account Info tab click on the E.F.T. Format field to see a list of banks already programmed. To setup your agents and staff members, go into Edit Agents/Staff (I.1.1), and on the Payroll screen, complete the Personal Banking Information section. Click on the Other Banks button to setup additional banks to automatically transfer funds to. When processing your Commission Cheques, you can click on the "Show" drop-down list to select the non-EFT agents to process cheques for, then the EFT agents will be left and you can process their payments in a batch. If you have e-mail addresses added on your agent's profiles, you can either Print, Print & E-mail or just e-mail a copy of the stub to the agent. We recommend you Print & E-mail so you have a copy for your files. To setup your A/P suppliers, go into Edit Supplier File (5.8.1), and on the Details screen complete the Bank Information. When you process any agents, or suppliers cheques, select the E.F.T. button instead of the Print button, it will print the cheque information on a blank piece of paper, indicating it was an EFT. Refer to the Processing Electronic Funds Transfer Tip Sheet in the HELP menu for more information regarding creating and transmitting the daily EFT file. Please contact your bank for more information on their policies and any applicable charges to setup Electronic Funds Transfer. If your bank shows up in the EFT Format drop-down list (E.1.4.Account Info.), there is no additional charge to use the EFT functions in Lone Wolf. If you would like your bank programmed to be in the list, there is a one-time charge of $125/hr. for the programming time. We estimate approximately 2 hours of programming time to add a new bank. Contact sales@lwolf.com for more information. |
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