Winnipeg’s Telpay Inc. has announced the release of the latest version of its Telpay for Business Software (version 6.6), expanding the comprehensive payment system that allows companies to make 100% of their payments electronically. Information from the software integrates with most major accounting software modules such as QuickBooks, Simply and AccPac. Types of payments that can be made include bill payment to anyone, payroll and other direct deposits to bank accounts, CRA remittances, international bill payments and processing collection files. All of these capabilities are incorporated into one software system that links to Telpay’s extensive list of over 45,000 billers and Telpay’s payments consolidation process.
Most bill payment services allow for only limited payment information to be included with the payment. Telpay for Business allows substantial flexibility so that the recipient can properly post the payments to its accounts. Telpay for Business also provides services that provide for entering the details required by governments when paying taxes, workers compensation, etc.
In addition, Telpay for Business records the accounting distributor of payments made and generates a journal entry to record the details in the company’s accounting system. It has an accounts payable module that will also import payments from the company’s accounts payable system. Increase your efficiency, making it faster, leaner and smarter. Electronic payment technology will increase your overall efficiency of your accounting, cash-flow and payment process.