Checkbook Integrates With Sage Intacct

Posted by Checkbook on Aug 17, 2020

With Greytrix and Checkbook.io, GUMU™ powered Sage businesses can leverage Digital Checks to make payments electronically and avoid the hassle of sending paper checks. Not only does this digital solution reduce the cost of making payments, but it also makes the process more timely and more environmentally friendly.

The Sage Intacct and Checkbook.io integration allows users to automate payments at the click of a button. Sage Intacct pushes payment information for transactions logged within the system to Checkbook.io and then pulls payment status in real time from Checkbook.io to update and reconcile that on its system. Hosting this integration on a cloud data framework has allowed for seamless real time flow of information between both the platforms with little to no configuration required.

This integration is characterized by its unique features:

• Seamless and easy integration process
• Bank Account set up in Sage Intacct carried over to Checkbook
• Payment tracking within one platform itself
• Online and error-free reconciliation of transactions
• Strict quality controls and support

There are countless benefits of opting for an integration of this kind for businesses. Businesses that are focussed on efficiency, effectiveness and security shall find this a no brainer. The following is a list of just some of the advantages that businesses shall enjoy:

1. Paper Checks Eliminated: Paper Checks are hassle-some. They are expensive, ridden with fraud and untraceable to name a few. Leveraging an end-to-end online solution is the need of the global and remote world that we live in. And Digital Checks are that online solution!
2. Payment Triggering Automated: The Integration between Sage Intacct and Checkbook automates Accounts Payable Management and Cash Management. This means that users can automatically trigger payments to be sent out upon the completion of the approval process. Imagine the time saved when you don't have to write each check individually!
3. ACH Payments Simplified: Automated Clearing House, or ‘ACH’, payments are processed faster than normal because of Checkbook’s Instant Verification process. Recipients find the funds in their account within 3-4 business days and do not have to waste additional time spent on bank account verification. In fact, the option of settling ACH transactions with the same day are also available for users that opt for it.
4. Multiple Bank Accounts Supported: Multiple Bank Accounts can be used within Checkbook.io to complete the payments that have been posted on the Sage Intacct ERP.
5. Security Risks Reduced: Account details are protected using SSL Encryption and are transferred between the two systems ONLY once during the setup process. Any transactions posted after the set up would never involve the transmission of any sensitive information. Additional security features such as dual approval, dual signatures and multi-factor authentication are available as well.
6. Errors Eliminated: Dual approval systems and rigorous fraud and anomaly detection makes payment errors a thing of the past, A team of people work to exercise strict controls of the number of transactions that can be made and their amounts based on an individual client’s KYC results.
7. Solutions Unified: The integration provided by GUMU™ helps businesses use two platforms as if they were one. Sage Intacct’s existing users have an all new financial tool that they could adopt for making secure online payments.
8. Lack of Resource Access Factored In: Payments are sometimes delayed or halted due to insufficient information like physical address, account numbers, and routing numbers or because of a recipient not having a bank account. Digital Checks are sent via email and can be used even by those that do not have traditional banking infrastructure.
9. Security Ensured: Security is a major concern while making online payments. Sage’s partner, Checkbook, specializes in fraud reduction and prevention. Fraud has been reduced by 99% through the Checkbook system as a result of strict quality controls and a dedicated fraud detection team.