Cash Management
New formats for Canadian bank file payments
Save time and pay Canadian suppliers and employees electronically in Sage Intacct with new bank file formats. We now support bank file payments for the following Canadian banks:
- Canadian Imperial Bank of Commerce (CIBC)
- RBC accounts that were previously with HSBC
Learn more about electronic bank file payments in Sage Intacct.
How it works
To start using bank file payments with this bank, first set up the accounts you'll need to process the payments.
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Set up a Canadian current account for bank file payments.
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Go to the Bank file tab.
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Select the file format and enter account details.
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Enter a 4-digit FSN (file sequence number) to start the bank file sequence with your bank.
About the FSNThis number is like a check sequence number.
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If your company has been using an integration to process Canadian bank files, you'll enter the next file number in the sequence. Include leading zeroes to make it a 4-digit sequence.
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If your company is new to using bank files for Canada, this number will be 0001.
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If you pay employee expense reimbursements in Sage Intacct, set up employees for bank file payments.
Then, you'll select ACH or bank file as the payment method whenever you pay Canadian suppliers and employees. Follow the bank file payment workflow to generate, upload, and confirm the payment.
Note for CIBC: For your first file, try uploading the generated file as-is with your bank. If CIBC does not accept the file, rename the file to follow CIBC conventions as outlined below.
clientdefinedname.CIBC1464.P.dat
Requirements
| Subscription |
Accounts Payable Cash Management Sage Cloud Services Time and Expenses |
|---|---|
| Regional availability |
Canada |
| User type | Business user |
| Permissions |
Accounts Payable
Cash Management
Time and Expenses
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| Configuration |
Bank files are enabled in the following places:
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