I have tried to read the guides, but can not find anything. Is there in any way that we can do EFT payments in the program directly to a creditor.
Regards
Kobus
No, you cannot. Manager initiates no outside interactions whatsoever. As an accounting program, it records what has happened; it does not make things happen.
@Tut Ok I understand. In other words Payments and Receipts can only be married with the bank account when reconciled.
I do not know whether I misunderstood the guides on Credit card Payments. This seems to me like direct payments to creditors.
I don’t know where you got this idea or what you mean by it. But both receipts and payments work just fine without ever doing a bank reconciliation.
There is no specific Guide on credit card payments. There is a Guide on how to record a payment and one on how to set up a credit card. But they are distinct. A credit card is just a source of funds, no different from a cash or other bank account except in how it is used. You can make a payment or take a receipt (such as a refund) with a credit card. From time to time, usually monthly, you must transfer funds from some other bank account to the credit card account to pay it off.
But, as I already said, recording such transactions in Manager is different from actually making payments or receiving money. You can record a direct payment to someone by credit card in Manager. But you cannot pay someone through Manager. You must do that with the card or through the issuing bank.
If you are referring to making a repayment to your credit card, this is achieved by creating an Inter account transfer from one of your bank accounts to your credit card
@kobus_Jhg, to be clear, @AJD’s comment is about recording a repayment to the credit card with an inter account transfer, not making the actual payment.
Correct, that is how it would be recorded in Manager after you have used your bank’s internet banking (or other means) to make the actual payment. Manager has no functionality to create a bank ABA file to submit to your bank for making payments.
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@Tut @AJD It is ok. I do understand clearly. I will make payments Via EFT (My Bank Account) and just reconcile in program later.
Once again, you have brought up reconciliation. Bank reconciliations are a specific thing in Manager. As I said before, making payments has nothing to do with reconciling. Record your EFT in the Payments tab.
Payment are made from your physical bank, using any of the facilities your physical bank provides. Receipt enter your physical bank when one of your contacts pays you.
Information about these transactions can then be entered into Manager. The most efficient method is to download the transaction in an electronic format and import them into your records in Manager (bank import)