Product Update 4.40.0.2

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Enforce Tighter Controls over Bank Reconciliation Adjusting Entries:

• To further refine and control who is allowed to make entries in Bank Reconciliation that change your current balances, a new option is now available in the Library Master Role Maintenance task. For banks defined in Bank Code Maintenance, you can specify the users who are allowed to access and make adjusting balance entries.

Positive Pay Export:

• Deter check fraud using the new Positive Pay features in the Bank Reconciliation module. Positive Pay assists your financial institution in monitoring against suspicious check activity using a file you create and submit. The Positive Pay file contains key information, such as check numbers and dollar amounts, to identify only the checks you have issued and authorized for payment. Components of the check must match exactly or the check will not be paid.
• The new Positive Pay Export Wizard can be used to create the proper export file format that your financial institution requires to compare the file you send with the checks that are presented for payment. For your reference, a field formatting and export details document is available from the wizard. The wizard can also be used to update your file format, as banks may change their specified file format.
• In Check, Deposit and Adjustment Entry, checks sent to the bank using Positive Pay are now identified with an Exported check box.

Expanded Comment Field:

• In Check, Deposit and Adjustment Entry, the Comment field has been expanded to 2048 characters.

Enter Checks, Deposits, and Adjustments On the Fly:

• In Reconcile Bank, you can now enter checks, deposits, and adjustments on the fly without having to return to Check, Deposit and Adjustment Entry.

Conveniently Use Recalculate Outstanding Entries Totals Utility:

• To improve workflow, the Recalculate Outstanding Entries Totals utility is now available from the Bank Reconciliation Utilities menu. This utility allows you to recalculate the totals of all outstanding check, deposit, and adjustment entries that have not been marked as cleared.

Automatically Reconcile Checks:

• Use the new Auto Check Reconciliation Wizard to create the proper check file format according to the specifications of your financial institution so you can efficiently reconcile your checks, or your business partner can configure the setting in their office, export the file, and then import it into your system. Once defined, you can automatically reconcile check information received from your financial institution.

Pay Vendors Electronically:

• In the Accounts Payable module, you can now pay vendors electronically by creating an ACH file to increase efficiency, improve your cash management, reduce operating costs, and lessen the risk of lost or stolen checks. You can enable ACH electronic payments in the new ACH tab in Accounts Payable Options, and define how they will be handled by your company and the type of information that will be transmitted to your financial institution.
• Use the new ACH Interface Maintenance task on the Accounts Payable Setup menu to select and set up the financial institution(s) you want to use for your electronic payments. Define the format and layout of the ACH file for each financial institution.
• Set up your vendors' bank accounts using the Vendor Electronic Payment window, accessed from Vendor Maintenance. Then use the tasks on the Accounts Payable Pre-Note Printing menu to generate pre-note ACH files to submit to banks for pre-note approval. After the vendor bank accounts have been approved, define your selections in the Vendor Electronic Payments window, including electronic payment distribution of payments, which can be allocated between one or more accounts.
• Electronic payments are processed through Check Printing and Electronic Payment (formerly named Check Printing). After you update the Check and Electronic Payment Registers, use Generate ACH File to generate a file for transmission to your bank.
• Along with checks, you can now print electronic payments on the Accounts Payable Check History Report and the Payment History Report. They also appear in the Checks tab in Vendor Maintenance and in the Payments tab in Accounts Payable Invoice History Inquiry. In addition, you can also choose to print a report of auto checks, manual checks, voided checks, reversals, credit card transfers, electric payments, wire transfers, all of these, or in any combination.
• When printing the Vendor Listing and Vendor Listing with Balances reports, you can now make a selection to print only vendors that are set up for electronic payments. Also, you can print the vendor’s electronic payment information on the Vendor Listing.
• You can now record the reversal of an electronic payment in Manual Check and Payment Entry, though you must contact the bank directly to cancel or reverse the payment.
• Two new utilities, Purge Electronic Payments and Purge Vendor Electronic Payment History, have been added to the Accounts Payable Utilities menu.
• In Role Maintenance, module options have been added allowing you to manage access to the new Vendor Electronic Payment window and the ability to print electronic payment information when printing the Vendor Listing.

Accounts Payable Checks, Extended Stubs, and Electronic Payment Remittance Advices:

• Save time, money, and the environment by utilizing Paperless Office to process, send, and retain electronic copies of Accounts Payable checks and extended stubs and remittance advices created for ACH Electronic Payments in PDF format. Add a unique message to include when e-mailing or faxing electronic remittances. The PDFs you create are then available to e-mail and fax, archive, and retrieve when needed. Easily access PDFs using the Vendor Viewer from Paperless Office or the Checks tab in Vendor Maintenance/Inquiry.