EFTS: Not just for large libraries!
Did you know that you can now use DOCLINE to generate a file of charges to send to EFTS? With this new feature, even small libraries can recoup some of their interlibrary loan expenses. Many are asking “Now that EFTS is available, why should we use coupons any longer?”
The NLM Technical Bulletin article, “EFTS and DOCLINE® Assist Libraries with Billing”, describes this new functionality in DOCLINE that makes it easier for EFTS libraries to generate a file of charge data to send to EFTS for processing. Available via a tab on your DOCLINE screen, the DOCLINE EFTS Transaction File Builder allows you to review recent transactions; you can then move past transactions for which you do not want to charge (for example, a library with whom you have a reciprocal agreement) or you can add a specific amount when you do want to pass the charge along.
EFTS Transaction File Builder
DOCLINE libraries use EFTS to manage the processing of financial transactions for DOCLINE requests. Each requesting library maintains a balance in their account at the University of Connecticut. When a supplying library fills a DOCLINE request, the charge for that request is debited from the requesting library’s account, a certain percentage (currently 3%, going to 5%) is held back by the University of Connecticut to support EFTS operations, and the balance is credited to the supplying library’s account. Used in conjunction with free reciprocal groups (e.g., FreeShare or other groups), DOCLINE libraries can essentially eliminate check writing and invoicing for interlibrary loan.
The National Library of Medicine encourages all libraries to consider joining EFTS to reduce ILL costs and labor and to eliminate waiting for outgoing checks to be issued and incoming payments to be received. EFTS is a very efficient way to pay for requests received from NLM and Resource Libraries. As hospital libraries become involved in EFTS, it will be an easy way to pay for requests from them as well.