Telpay Payment News
Bringing You Payment Insights, Trends and Best Practices

Non-Processing Days That You Need to Know

non-processing-reminder

At Telpay, we do not process payments on statutory holidays. We refer to these holidays as non-processing days.

Due to the nature of our service, we rely on banks and credit unions to move money.  When the banks close for the holidays, Telpay cannot process any payments.  If your payment is on or around a holiday (non-processing day), you will need to add a day(s) to your funding timeline or adjust your payment deposit date.

When are the upcoming non-processing days?

  • Christmas Day – Friday, December 25, 2015
  • Boxing Day – Saturday, December 26, 2015 *observed on Monday, December 28, 2015
  • New Years – Friday, January 1, 2016
  • Provincial Holiday – Monday, February 15 , 2016 *observed in Manitoba, Alberta, Saskatchewan, Ontario, Nova Scotia and PEI
  • Good Friday – Friday, March 25, 2016
  • Victoria Day – Monday, May 23 , 2016
  • Canada Day – Friday, July 1, 2016
  • Civic Holiday – Monday, August 1, 2016
  • Labour Day – Monday, September 5, 2016
  • Thanksgiving – Monday, October 10, 2016
  • Remembrance Day – Friday, November 11, 2016

What if I want to make a payment on a statutory holiday?

Since banks are closed on statutory holidays, Telpay cannot  process any payments you submit on non-processing days.  Adjust your payment date(s) to accommodate non-processing days.

How do non-processing days affect my funding?

Non-processing days are also non-funding days.  Non-processing days are not included in the total lead time for payment funding.  You will need to adjust the number of lead time days to fund your payables and payroll on time.

Does Telpay send out holiday reminders?

We do our best to give customers advanced notice of upcoming non-processing days. We send our customers non-processing day reminders by email, monthly newsletters, Telpay’s social media channels and the important dates are listed online at support.telpay.ca.

Plan ahead for the holidays!

The holiday season is right around the corner!  During the holidays, Telpay will not process or accept funding for any payments on December 25, December 28 and January 1. Start planning now for your payroll and/or payables with our handy Funding Timeline Schedule.

Plan your payments ahead so that you can focus on what matters most this holiday season.

Posted in: Payroll Direct Deposit, Telpay News
Telpay Payment News
Bringing You Payment Insights, Trends and Best Practices

Pillar 8: Business Management – Key Performance Indicators

pillar8-kpi-part2

The series is from Chartered Accountant, consultant and author, Jeff Borschowa, from his book, 8 Pillars for Exponential Business Growth. The series is focused on how to find new and better ways to integrate innovation and technology to enhance the customer experience and improve efficiency in the accounting process.

Key performance indicators (“KPI’s”) measure how well your business is meeting your CSF’s. Well-designed KPI’s will help you answer some variation of the question: “Are we getting closer to our definition of success?” KPI’s will be very specific to your business type or industry, as they are created based on the CSF’s that keep your business going.

If you do not currently have KPI’s, do research to see what others in your industry are measuring. Implement KPI’s slowly at first. I often see a lot of businesses going from no KPI’s to suddenly having a significant number to monitor. Too much at once can be counterproductive and confuse staff. I suggest picking your most important CSF and creating two or three KPI’s around it. Once you are comfortable with the process, start to expand to cover additional CSFs.

Next: Part 3 – Customer Selection and Ranking

Posted in: Telpay News
Telpay Payment News
Bringing You Payment Insights, Trends and Best Practices

Process Limits – Value and Volumes

qualify-lady-paymentThis article is part of a series on “Qualifying to Make Sure Clients are a Good Fit.”

Before you break out that Telpay Application, as a Partner you have one more qualifying step to walk through with your client: determining your client’s anticipated payment processing needs.  We define this as “Processing Limits”, which is the maximum dollar value payment file that your client is able to process. We recommend you work with your client to help them estimate how much money they will need to meet payroll, payables or a combination of both.

Once you have determined your client’s processing volume, the next step is to choose the appropriate processing limit.

Continue reading →

Tagged with: , Posted in: Telpay ASP Partner
Telpay Payment News
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What Do Pumpkin Spice Lattes and Electronic Bill Payments Have in Common?

webinar_oct2015

It’s a colourful fall morning and you are about to start your work day but, first you need caffeine! In the spirit of fall, you grab yourself a pumpkin spice latte for the energy you need to be efficient for the first half of your day (ok maybe for the first few hours).

Like many, I am guilty of relying on the pumpkin spice latte and coffee to wake me up for a productive morning.  But, pumpkin spice is not here all year round and my coffee cup does not have an auto refill button.  Bottom line is we need our work processes to be efficient, not just our caffeine fixes!

I am not suggesting anyone give up coffee.  I am suggesting we give up on the processes that make us inefficient, such as cheque processing! Electronic bill payments help create efficiency all year round – not just in fall. Telpay’s payment software has essential details that can make processing your business payments more efficient. 

Imagine drinking your pumpkin spice latte while:

  • Telpay collects banking information from your suppliers
  • Telpay processes your payables as early as the next business day
  • Telpay integrates with your accounting program eliminating double entry

So, what do pumpkin spice lattes and electronic bill payments have in common? Creating efficiency!  Join us for a payables webinar and the pumpkin spice latte is on us!*

Find a payables webinar time that’s right for you and register here.

*$5 Starbucks gift card will be given to the first 10 registrants, who attend one of the following November Payables training dates – November 18th or November 25th. 

PLEASE NOTE THAT ALL WEBINARS ARE SCHEDULED IN CENTRAL TIME. Please adjust the webinar start times according to your time zone.

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Telpay Payment News
Bringing You Payment Insights, Trends and Best Practices

Remembrance Day

remembrance-day2015

On November 11th, Canada remembers the courage and dedication shown by members of the armed forces. As we pay tribute to the sacrifice and honour of so many, we observe a moment of silence on November 11th, at 11am month across the country.

Lest we forget.

Telpay will be closed on Remembrance Day to honour Canadian Veterans and those serving in the military .  Please view our Holiday Funding Schedule to ensure your payments are deposited on time.

Tagged with: , Posted in: Telpay News