CPA Compliant Cheques Sage Accpac A/P
Posted by Glen Mund on Tue, May 15, 2007 @ 05:05 PM
The new cheque specifications are a key part of an industry-wide plan to modernize Canada's cheque clearing system through image technology. The new specifications are designed to ensure that high-quality images can be captured from the cheques for use by financial institutions and their customers, and to make cheque processing more efficient.
Businesses that have not yet updated their cheques are strongly encouraged to do so by June 30, 2007. To help customers make a smooth transition, financial institutions will continue to process "old format" business cheques until implementation of the new clearing process begins in the latter part of 2008. This extended transition or "grace period" will allow businesses that are still working on the changes to use up their existing supply of cheques & to make any required changes to software.
For more information on the new standards visit: http://www.cdnpay.ca/home/home.asp
Plus recommends that all companies send a copy of their Sage Accpac ERP cheques to their financial institution to ensure that they are tested to meet the new standards. For assistance in making your cheque specs CPA Compliant please contact our office.