SAP Business One Products

A Faster, More Reliable Way to Make Payments

Third Wave’s Electronic Funds Transfer (EFT) is an SAP add-on that enables you to pay vendors and receive payments from customers by directly transferring funds between bank accounts via EFT/ACH bank transactions. Not only does this help reduce back-office costs and postage, but it also enhances security, simplifies accounting procedures, and increases overall efficiency.

“Versago has become an indispensable self-service portal to SAP for our reps and executives. We use it in other ways too, such as scanning returns, giving us the ability to quickly repurpose them for new orders.”

- Luke Brown, Director, Information Systems, OGI Eyeware

"Versago is a very cost-effective and flexible tool that has become central to running our day to day business. We look forward to implementing it in a more customer-facing role in the future.”

- TJ Smith, President, EAW (Eastern Acoustic Works)

"Right now we’re in a stage where the functions, procedures, and processes we do are working very smoothly. So everything’s going quickly and all our employees are looking back in hindsight and saying:“Yeah, we went through a difficult stretch, but it was well worth it based on making things streamlined and more efficient."

- Charles Zahler, President, Santec

"Third Wave is willing and able to learn about our business to help us figure out how to use the system. I would recommend Third Wave as excellent and responsible consultants."

- Luke Brown, Chief Financial Officer, CES Optical LLC

"There were a lot of challenges we had to overcome and SAP Business One with Third Wave Business Systems has definitely been helpful in overcoming those challenges."

- Ari Frankel, Director of Operations, New Yorker Electronics

"Going forward, we wanted to find a robust solution that would help us handle the level of complexity involved in our inventory management, without require time-consuming manual intervention. That solution was SAP Business One and Third Wave."

- Vito Dileo, Senior IT Manager, Alpargatas S.A.

"Versago has helped eliminate redundant work allowing more time for value-added tasks."

- Deanna Liberatore, Assistant Controller, Vuzix

"I don't know if we'll ever be done finding uses for Versago."

- Ryan Krutzfeld, Vice President, Operations, Collicutt Energy

"Versago helped us streamline processes that allow both time and cost savings. The value add of Versago will carry us well into the future."

- Anthony Mariani, Director, Account Management, Certified

"We see SAP Business One as an ally at Rifle Paper Co. Not only does the software keep everyone on the same page, but it also gives us valuable information that we can use to grow the business and meet our goals."

- Bobby Morrison, Director of Enterprise Systems and Services, Rifle Paper Co.

"In the past we relied on emails to order parts for jobs. This cost us time not to mention if an email was overlooked. Versago has allowed us to create a more automated process that provides transparency for everyone."

- Ryan Krutzfeld, Vice President of Operations, Collicutt Energy

Key Features

Accommodates both Vendor and Customer payments directly from the SAP Business One Payment Wizard

Notify vendors and customers of payment by delivering detailed remittances via email

Gain out-of-the-box support for NACHA and CPA formats or create your own template

Generate pre-note EFT test files for the US NACHA format for validation by your banking institution

Set up termination dates on vendors and customers

Increase payment security while reducing processing cost

Enter EFT payments but schedule them to take place on a later date


View the demo of Electronic Funds Transfer for SAP Business One

Create Bank Transfer Files Formatted for Your Bank

You can create and store EFT bank transfer file formats specifically formatted to your bank’s designated requirements. There are pre-installed NACHA and CPA file formats to ensure compatibility for all banks in the United States and Canada. You can then customize any of these templates using EFT’s configuration tool to edit, add, or remove data fields and records to match your bank’s format. You can also create your own templates by building your own record types and data fields that meet your requirements.

Pay Vendor Invoices on Time and Reduce Customer Collection Times

You can use the SAP Business One Payment Wizard with EFT to easily create EFT/ACH payment transaction files. EFT will set up both Vendor Outgoing Payments and Customer Incoming Payments transactions. Simply click the “Generate EFT Files” button to create the file to upload to your bank to complete the payment process. Using EFT Effective Date, you also can schedule payment to be processed on a future date.

Instantly Notify Your Vendors When a Payment Is Made

By using EFT’s automatic remittance emails, you can notify your vendors when a payment has been made. The emails are generated with one click and include an attachment with the invoice number, date, total amount, and description of purchase. Data from any user-defined field can also be pulled into the invoice.

Enhance the Security of Your Accounts Payable and Receivable Processes

With EFT, you no longer have to deal with checks being lost in the mail, stolen, fraudulently cashed or securing check stock. The pre-note function validates vendor and customer payment information insuring that the transaction is sent to the right bank account. Throughout the process, the transmission between bank accounts is completely secure.

Automatically Keep a Record of All of Your EFT Payments

You can store a record of all of your EFT payments in one centralized location for quick access. During the initial EFT setup, you’ll be able to select a folder on your network to store all generated EFT files. You’ll then be able to view any EFT for verification purposes. In addition, because EFT integrates with the SAP Business One Payment Wizard, you can review the audit trail at both the transactional and file level.

Boost Your Accounts Payable and Accounts Receivable Processes in SAP Business One with EFT

Get started with Third Wave’s Electronic Funds Transfer to ensure fast payment to your vendors or collection of payment from your customers. Contact Third Wave to find out how EFT can help you manage your business better!