Madsoft SwiftPay

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MadSoft SwiftPay was developed with digitalization in mind to transform the way business make payment.

It integrates payment details from MadSoft Standard Accounting to the bank’s internet banking portal and cut down payment processing time with no more cheque preparation. Business owners can now approve payments anytime anywhere from his laptop or tablet.  No more manual and tedious way of managing cash flow with the capability of scheduling different payment dates for different suppliers

(1) Able to know which personnel has authorised the payment to suppliers.

(2) Able to schedule different payment dates for different suppliers to assist in cash flow planning.

(3) Hassle free – (a)  For any urgent payment, there is no need for management to rush back to office & sign cheques. Management can approve the cheques anytime anywhere.  (b) When management want to delete post-dated payment to supplier, it can  be done in seconds instead of calling the bank and stopping the cheque which may incur penalty charges. (c)  Reduce the time of cheque preparation. For example for 100 cheques, it takes from 2– 3 days to 2 hours at your fingertips

(4) Able to track the actions performed by all personnel.


Schedule different date / time
Able to schedule date / time for different payments to different suppliers


Flexibility
Able to pay all or selected suppliers


Reports
Able to generate reports to show
(a)  payments approved by management;
(b) payments prepared but pending to pay to suppliers and
(c)  payments cancelled


Payment File
Able to generate payment file filtered by
(a)  payment voucher date;
(b) payment voucher number and
(c)  supplier name


Audit Trail
Enable tracking for activities filtered by dates with status:
(a) Created – payments made to supplier;
(b) Unselect – payments on hold;
(c) Cancelled – cancelled payment to supplier;
(d) Submitted – payment approved & send to bank for processing &
(e) Modify – eg. amendment of value date, reference no.

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