Drake Accounting: Can I set up my firm to collect payments from a client using direct deposit (Kotapay)?
Yes, you can set up your firm as a vendor for each client and then enable direct deposit payments through Kotapay (formerly InterceptEFT). This will allow your clients to pay you for your services by direct deposit.
Before configuring Drake Accounting for direct deposit, you must first set up an account with Kotapay. Contact Kotapay at (866) 431-9926 or visit their website at www.interceptEFT.com for more information or pricing. Once this is completed, go to Firm > Direct Deposit Setup and input your Kotapay information. For more information on this process, see Related Links below.
- Go to Payables > Vendor Setup to set your Firm up as a Vendor.
- Enter all required information and click Save.
- Go to Payables > Invoices and select Vendor.
- Click New and complete required and applicable information.
- When finished, click Save.
- Go to Payables > Payments.
- Select Vendor and the invoice created in Step 2.
- Click New.
- Under Payment Information, select check and enter payment amount.
- Click Save.
- Go to Payables > Check Print to verify the check is there and print if needed.
- To transmit the check (direct deposit) from the client’s account to the vendor's account, go to Payables > Transmit Direct Deposit.
- Select the check you wish to transmit, and once you verify the information is correct, click Transmit.
- A web browser will open to finalize the process.
For additional assistance, see Related Links below.