In Australian the Prom Coast model is based on pre-paid orders from multiple producers in a hub shop, for collection at at pick up point. One of the largest central admin roles is forwarding payments to suppliers. Split payments, via e.g. Mangopay would offer an ideal solution.
However, in Australia there is a file type called ABA. This file can be uploaded into most Australian banks, and it generates bulk transfers to payees. This can speed up the process of paying 30+ suppliers. Would it be possible for OFN to generate an ABA file, which hubs can upload into their bank to make payments to suppliers quickly? Or if not, could users generate ABA files using other softwares?
CSV to ABA conversion tools.
- There are online conversion tools available online, which can take a CSV and turn it into an ABA file. I can’t see user friendly ones which are free. The easiest one is $5/30 payments. https://www.cemtexaba.com/ . This particular tool needs the following columns for each supplier a) their BSB number b) their account number c) their name d) the amount you want to transfer to them e) an optional comment. It also needs the Payer’s bank information.
Using accounting packages
- Most accounting packages (Quickbooks, MYOB, etc) can generate ABA files.
Could OFN generate ABA files?
- I understand that https://www.cemtexaba.com/ have an API
- You would need to have supplier banking information in OFN (not info that’s currently available in OFN).