MoneyPennyEFT uses an advanced due date management system. Each payment is assigned a Frequency Date of:

• Daily
• Weekly
• Bi-weekly
• Fixed Day of the Month (ie. the 14th day of each month) - monthly with maximum control!
• Last Day of the Month - MoneyPennyEFT calculates the next due date for month end and assigns the correct date!
• Mid-Last Day of the Month - assigns due dates to payments on the 15th and last day of the month
• Bi-Monthly - every 2 months
• Quarterly
• Annual

Example Contral Details Screen Shot:

You can assign a start and end date to a payment to ensure that you collect all the funds. Alternatively, you can assign a payment to be "perpetual" which has no end-date, cancel these payments when you are ready.

Processing your Payments

MoneyPennyEFT has a very advanced payment due date management system. Once you have entered your payments. Extracting the payments that need to be sent to the bank is extremely easy using the Process Payment function.

Example Processing Period Screen Shot:

EFT payments are normally sent to the bank several days or weeks before they are due. Select the "End Date" and the system will extract all your payments to the End Date automatically. You don't need to manually set due dates any more, the advanced features of MoneyPennyEFT will save you time, improve the accuracy of your payments. Since the system remembers the payment dates, they can't be collected twice, causing customer dissatisfaction and costing Company time correcting these mistakes.