Shireburn introduces Electronic Payments into its Accounting Solution

SEPA SFMUsers of the Shireburn Financial Manager are now able to electronically process Euro payments to their local and Euro-Zone suppliers without the need to print cheques or effect manual bank transfers.

This facility, available in the new SFM SEPA module, increases productivity by removing the need to prepare and sign cheques, reduces costs while also enhancing controls and auditability. The move away from cheque payments towards electronic payments ensures a faster, cheaper and more secure, fully audited and authorised payment process.

The SFM SEPA module allows businesses to manage electronic SEPA payments more efficiently, directly from within SFM. Payments to suppliers are posted as usual and authorised users are able to export a SEPA file, ready for upload on their bank’s on-line payments portal for authorisation by a signatory. Remittance advices are also able to be printed or sent to suppliers via email to notify them of the payment.

“Shireburn’s SEPA Module is yet another example of how Shireburn responds to evolving business needs and market requirements,” said Franco Galea, Operations Director at Shireburn Software. “Thousands of companies that depend on Shireburn’s accounting system will now be able to further boost their productivity, reduce costs and controls.”

The Shireburn SEPA module supports payments through Bank of Valletta, HSBC Bank Malta, Banif Bank, Lombard Bank Malta and APS. The SFM SEPA module was unveiled among some 200 of Malta’s top accounting professionals at the Malta Institute for Accountants (MIA) Conference held on the 6th and 7th November.

For more information about the Shireburn Financial Manager SEPA Module or other business solutions, companies may contact Shireburn on +356 2131 9977, info@shireburn.com or visit shireburn.com/sepa

About Shireburn Software

Shireburn Software is a software products company, specialising in the development of business software solutions and their support, both locally and overseas. Solutions include accounting, payroll and HR, inventory and retail, eCommerce, business intelligence and document management amongst others.

About SEPA

SEPA (Single European Payment Area) is a banking industry framework which simplifies bank transfers denominated in Euro to a bank account in a SEPA member country. SEPA allows anyone to affect cashless payments in Euro to anyone located within the Euro-Zone, using the same bank account and instructions as if they were affecting a local payment. This makes paying Euro-Zone creditors easier, cheaper and more efficient. More information regarding SEPA can be obtained from: http://ec.europa.eu/internal_market/payments/sepa/


Shireburn releases SEPA compliant Payroll

SPS SepaShireburn Software has this week released the latest version of its Payroll Software that now enables all automated electronic payments within the system to be SEPA (Single European Payments Area) compliant. Following rigorous testing in collaboration with local banks, Shireburn was last week given the green light to release the update with the new SEPA compliant features.

SEPA is the European standard for electronic payments and the Shireburn Payroll System (SPS) is now able to effect payments to employees, both locally and internationally, using this format. Automated SEPA payments have just started being accepted by local banks and all electronic payments across the Euro area must conform to the SEPA format as from February 2014. This is also the format that is required for new bank customers processing payments electronically.

“Shireburn Payroll’s SEPA compliance is yet another example of how responsive and timely Shireburn is in ensuring local businesses can meet evolving business needs and is in line with Shireburn’s strategy to lead the market and always provide clients with the best solutions,” said John de Giorgio, Managing Director of Shireburn Software. “Thousands of employees are paid using the Shireburn Payroll System and they can rest assured that their employers will be set up to ensure no interruption.”

Mr de Giorgio stressed the importance for businesses to begin talks with their respective banks prior to activating the SEPA function in the Shireburn Payroll System, so that they may ensure that all will be in order come the final deadline in February 2014.

The Shireburn Payroll solution forms part of the Shireburn Business Suite (SBS), a robust and integrated business solution encompassing payroll and HR, accounting, inventory, retail, e-commerce, BI and document management solutions amongst others.

More information regarding SEPA can be obtained from: http://ec.europa.eu/internal_market/payments/sepa/

For more information about the Shireburn Payroll and HR System or other business solutions, contact us.