Users 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.
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.
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/