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H
hn28
March 26, 2019
Question

Paying Payables by EFT

  • March 26, 2019
  • 3 replies
  • 22 views

Is there a way in QB Online to set up a payment EFT file to pay a group of payables to be exported to the bank and used to upload to CAFT for electronic payments or other online banking programs? 

3 replies

L
LauraAB
Level 8
March 26, 2019

Hi hn28,

 

That's a great question! QuickBooks Online is geared towards helping you keep track of your companie's financial data. This means you can enter transactions for your suppliers in the program and record the relevant payments, however the program doesn't move money for you.

 

While you can export a report or list of your expense and bill transactions, that may not give you what you need for importing to a bank account. You can take a look at the available reports by selection Reports from the left menu and going to the What you owe and Expenses and suppliers sections to see if there's something that suits your needs. You can also export a list of transactions right from the Expenses page by clicking the small export icon above the list to the right.

 

Otherwise, I recommend taking a look at our partner apps. With these apps, you can expand QuickBooks' capabilities to do even more with the program. Click Apps in the left-hand menu and then use keywords, such as suppliers, to search for what's available.

 

Let me know if you have more questions. Enjoy your day!

    K
    KLHCPA
    July 12, 2019
    Hey LauraAB, I've went through the partner apps and there does not appear to be any related Apps for this. I've found a software that is not on your appstore called TreasurySoftware . com that claims to be able to do this, however, I'm nervous to use this software since we are dealing with such sensitive information. Would you be able to comment on this software and whether or not it is legitimate or if you have came across a different software since your last post that you could point me to. Thanks
      Angelyn_T
      Angelyn_TModerator
      Moderator
      July 12, 2019

      Hello, @KLHCPA.

       

      Allow me to join the thread and help provide additional clarification about integrating apps to QuickBooks Online (QBO).

       

      The trusted apps that can be integrated in QuickBooks are those apps that are listed under the App Center or those apps that can be search inside QuickBooks.

       

      To check for the features and the application further, I'd recommend contacting the TreasurySoftware provider. This way, they'll able to discuss the application for you.

       

      In case you have any other QuickBooks concerns in the future, you can always check this article: Help articles for QuickBooks Online.

       

      Let me know if you have further questions by adding a comment below. I'll be right here to help.

      I
      Izzy M
      June 8, 2020

      Was there ever a solution for this? We are currently trying to solve the same problem.

      Thanks!

      K
      KLHCPA
      June 9, 2020

      No there was not.  We ended up having to enter it into QBO and then again into the bank. 

      J
      JamesM
      Level 5
      October 20, 2020

      although Sparcpay does look like it does the job, it's not really the job we are looking for here.  Just looking for a report that we can upload to our bank.  Not looking for someone to pay the bills.  For my payables yesterday, it would have costed an extra $10 to use sparcpay-$1 for each bill paid... this could really add up.


      Hi mskelly. Thanks for reaching out. I'd be happy to help you with this. Could you elaborate more about the report you're looking for?

      C
      chrisdoiron
      March 21, 2024

      We've been using Treasury Software for a while now and I'm quite happy with the results.

       

      A couple people mentioned not liking the QBO solution for remittance advices and Treasury Software (TS) can produce those as well. In fact, they're also customizable in terms of the message itself and what data you include, such as a detailed list of invoice numbers / amounts.

       

      I ran a batch today that paid 55 invoices to 29 vendors. This included importing the records from QBO, generating a CPA005 compliant payment file, uploading the file to our bank, and sending remittance emails. Except for the internal sign offs on the payment batch, it took less than 5 minutes from start to finish.

       

      TS also has a lot of audit trail reporting so you're able to see when bank info was added or updated. We're using it for multiple companies and confirmed that this is allowed.

       

      The set up wasn't too bad. There were a couple of small quirks that I ended up going to support for, but they were excellent to deal with. Quick response time. Easy to understand answers.

       

      I'm sure by now you must be thinking I work for them, but I am not a paid actor. 🙂

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