Deltek Vantagepoint Help

Using the Help Search
Using the Help Search
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Using EFTs to Pay Vendors

In Vendor Payments, you can process electronic funds transfers (EFTs) to pay a vendor.

A direct deposit from your bank is made to a vendor's bank account.

You can process the following types of EFTs (also known as electronic payments) in Cash Management > Vendor Payments:

EFT Type Description
ACH/NACHA Vantagepoint generates a .txt file in a NACHA file format that you download and send to your bank. The bank uses the payment information in the file to make direct deposit payments to your vendors' bank accounts.
SEPA (Single Euro Payments Area) Vantagepoint generates an .xml file that contains the SEPA service level code that you send to your bank. This file format is commonly used in European countries. The bank uses the payment information in the file to make the direct deposit payments to your vendors' bank accounts. You can also use the SEPA format for other service level codes, such as SDVA, URGP, or NURG. To use the SEPA format for other service level codes, after the XML file is generated in the export-to-text process, edit the XML document and replace the SEPA service code with another code.
ClieOp This type of EFT is commonly used to make payments to recipients in the Netherlands in euros or in situations where multiple types of currency need to be supported for a single bank. Vantagepoint generates a file that you download and send to your bank. The bank uses the payment information in the file to make the direct deposit payments to your vendors' bank accounts.
Wires After you use your bank's wire system to pay vendors, you create a vendor payment run in Vantagepoint to record the wire payments that your bank already made.
Direct Debits Direct debits are electronic payments that your bank pays automatically at the request of your vendor. An example of this type of payment is a utility bill that is due every month. You give your bank permission to pay a certain vendor for the payments that the vendor requests from your bank. The payments are direct deposited to a vendor's bank account. After a direct debit payment is made, you create a vendor payment run in Vantagepoint to record the direct debit payment that your bank already made.