News and Announcements icon

Dynamics 365 CommunityForums Microsoft Dynamics GP (Archived) EFT for Receivables an...

Microsoft Dynamics GP (Archived)

EFT for Receivables and Payables questions for US install

(0) Share

Report

Report

Posted on by Paula Meehl

75

These questions are all related to GP install in the U.S. not Europe

Questions related to EFT for Receivables:

How does EFT for Receivables work? If this is set up, are you pulling funds directly from customers bank accounts?
Can this work if the customer is pushing funds directly to the GP company bank account?

Questions related to EFT for Payables:

If a vendor is pulling funds directly from the GP company bank account, can EFT be used or is EFT only used to push payments directly to a vendor bank?

Thanks!

*This post is locked for comments

All responses Img

All responses (1)

Answers Img

Answers (1)

Verified answer

Community Member Microsoft Employee on at

Like (0)

Report

Re: EFT for Receivables and Payables questions for US install

Hi Paula,

In both cases GP is pushing the data. In EFT for payables, you select what vendor invoices you want to pay - and GP generates a file that you upload to your bank telling them what amounts to transfer to what vendor bank accounts.

Same in receivables - you are selecting what sales invoices to collect cash on and sending a file to your bank instructing them to debit your customers bank accounts.

Ian.

Helpful resources

Quick Links

Leaderboard

#1

André Arnaud de Cal... 292,494 Super User 2025 Season 1

#2

Martin Dráb 231,305 Most Valuable Professional

#3

nmaenpaa 101,156

Leaderboard

Featured topics

Product updates

Dynamics 365 release plans