Sometimes companies want to outsource parts of the check creation process to their banks or other outsourcers. Starting with GP 2010 this gets a little easier. GP 2010 upgraded the EFT options to include the ability to creat a custom EFT format. This can be a great option. Simply setup the EFT format to match your outsourcing file and process like a regular EFT.
For example, I know of one firm with a purchasing card process that give them 30 days to pay the p-card total for a month. They are using a custom EFT file to pay vendors via p-card. So they pay the vendor on time, using the vendor’s terms. Payment is made via AP with a p-card. They use a custom EFT file to simplify the processing. This effectively gives them an extra 30 day terms on all of their vendors. It’s a creative use of the custom EFT file.