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How to Get Paid via Electronic Funds Transfer

This Help File Page was last Modified on 04/15/2013

How to Get Paid via Electronic Funds Transfer

This Help File Page was last Modified on 04/15/2013

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How to Get Paid via Electronic Funds Transfer

This Help File Page was last Modified on 04/15/2013

Previous topic Next topic  
An Electronic Funds Transfer (EFT) provides an easier method for your Subscribers to pay, and for you to get paid.
It saves everyone money and time.
It's cost is nominal for both your Subscriber and your Company.
It adds convenience for your Subscribers.
Once it is setup, the process is virtually automatic.
The steps outlined below are meant to provide a quick overview, to give you some general directions.
Each step is explained in detail elsewhere in the related Help File Chapter Links.

 

The Electronic Funds Transfer Process is setup and executed as follows:
In Bank Maintenance, create a record for the Bank (or other EFT Processing Services) and define the required EFT Information.

HelpFilesBankEFTInfoTab

Bank Form - EFT Info tab

 

Create at least one Billing Cycle for EFT (Electronics Funds Transfer) processing.
If you use more than one EFT processor, create a separate Billing Cycle for each.
Assign the Bank that has the associated EFT Information defined, to the Billing Cycle definition.

HelpFilesBillingCyclesBankAssigned

Billing Cycles Form - E.F.T. Billing Cycle - Bank assigned

 

Enter the Recurring Billing rules for those Subscribers who will pay via EFT.
Assign the appropriate EFT designated Billing Cycle to each of these Subscribers

HelpFilesAutoBillEFTBank

Recurring Revenue Form - With an EFT Billing Cycle assigned

 

Do your Recurring Billing for your EFT Billing Cycle.

HelpFilesAutoBillingEFT

Run the Auto Billing process for EFT Accounts

 

Open the Post Auto Drafts Form.
Choose the EFT Billing Cycle
The correct Bank name (which has the associated EFT information) should be inserted automatically.
Check Generate EFT File? box.
Run the process.

HelpFilesPostAutoDraftsForEFT

  Post EFT Auto Drafts dialog

 

The file to be transmitted is created automatically using the name you will be asked to specify.
Transmit this file to the Bank in the manner they require.

 

Periodically, print and review the Auto Draft Accounts Report to ensure the information is up to date, particularly checking each Credit Card's Expiration Dates.

HelpFilesAutoDraftAccountsReport

Auto Draft Accounts Report dialog