Vendors Payment and Terms Tab - Electronic Payments

Electronic Funds Transfer for A/P features are integrated into this Accounts Payable form. This topic only displays the features that specifically apply to EFT for A/P. For detailed information regarding Accounts Payable, refer to Maintain>Accounts Payable>Vendors - Payment and Terms Tab.

Use this tab to enter the Electronic Funds Transfer information for vendors. Select the Electronic Payments check box and complete the appropriate banking and payment notification information.

If you enter an Account Number assigned by the vendor on the Maintain>Accounts Payable>Vendors>Vendor tab, this number will also be transmitted in the A/P electronic file and will print on the voucher.

In order to view the Bank Account field, you must have been granted Sensitive Data rights for Maintain>Accounts Payable>Vendors. These rights are granted by the Administrator using Security>Set Up Organization Menus.

Troubleshooting

• To verify EFT information: the first payment, after a change to a vendor’s information, creates a check and a $0.00 amount record in the EFT file sent to your financial institution. After three banking days have passed without a change to the vendor’s direct deposit information, a voucher and a normal EFT record will be created for the next payment. Note that Banking days are Monday through Friday, and exclude Holidays and Weekends. When the pre-note is sent, the first day does not count, but the next three days do count - unless it is a holiday or weekend, and the fourth day, a voucher and a normal EFT record will be created for the next payment. For example. You send a pre-note on Friday, July 1. The first day begins on Tuesday, July 5 (because July 4 is a holiday) and a voucher and a normal EFT record will be created for the next payment as early as Friday, July 8.

 

Payment Information: Use this group box to enter the bank information needed to set up electronic payments and to specify payment notification options.

• Electronic Payments: Select this check box to activate electronic payments for the vendor.
• Routing Number: Enter the vendor's bank routing number. This is the nine digit routing number that prints on the bottom, left of the check.
• Bank Account: Enter the vendor's checking account number at the vendor’s bank. All alpha characters should be entered using uppercase letters. The vendor supplies this information.
• Type: From the drop-down list, select the type of payment that will be made to the vendor. The system displays a code of 22 for checking, 32 for savings, or 52 for a loan payment.
• Disable Pre-note: Select Yes to not send the vendor a pre-note. Otherwise, select No to send a pre-note for this vendor. Anytime the Routing Number, Bank Account, or Type is modified, the Pre-note period is reset by default. Unless the Disable Pre-note option is set to “NO,” a pre-note will be sent (three banking days after the modification) and the vendor will get a check. The system sends pre-notes based on the last changed setting in either the Maintain>Accounts Payable>Vendors - Payment and Terms Tab or by the Administrator using Organization>Set Up Modules>Electronic Funds Transfer - Bank Information Tab.
  In order for the Pre-note control to work at the Vendor level, the vendor record must be updated after any updates occur at the Bank Information level.
• Disable Pre-note Last Updated: The system displays the date of the last time the Disable Pre-note field was changed.
• Pre-note Sent: The system displays the date when the pre-note was sent.
• Electronic Payments Last Updated: The system displays the date for the last time the payment information was changed.
• Voucher Available: The system displays the date when the A/P voucher was available.
• Print Separate Checks for Each Invoice: When you select the Electronic Payments checkbox, this box will automatically be selected. The system will create an Addenda record for each invoice.

Note: If this checkbox is not selected and invoices selected for payment are tied to more than one address, using Maintain>Accounts Payable>Vendors>Addresses tab>Check Address button, the system must batch payments by check address and print one invoice per check address.

• If you clear this checkbox, the Addenda record will not be created because it is restricted to the information for one invoice only. However, the system must validate whether multiple check addresses are indicated on the invoices selected for payment.
• The Addenda record will always display when paying only one invoice, unless the Disable Addenda check box is selected by the Administrator (Organization>Set Up Modules>Electronic Funds Transfer).
• Personal Account: This refers to the Bank Account field. Select this checkbox to indicate that the bank account number links to a personal account, not a corporate account.

Note: The Personal Account checkbox is automatically enabled if any bank information (Routing Number, Bank Account, or Type) is modified. If the Electronic Payments checkbox is not selected, the Personal Account checkbox is automatically disabled.

• Do Not Send Payment Notification Email: Select this check box if you do not want the vendor to receive an email when the electronic payment file is created and sent. The system default for email options selected by the Administrator is located on the Organization>Set Up Modules>Electronic Funds Transfer>Email tab.333
• Email Address: Enter the vendor's email address to send the payment notification. If you are entering multiple email addresses, each address must be separated with a semicolon.

  Note: This feature is available if you have configured your Simple Mail Transfer Protocol (SMTP) settings for email (Organization>Organization Information>SMTP Email) on your machine.