Vendor Payments
Use the Vendor Payments application under Cash Management to pay invoices received from vendors.
You enter vendor invoices as accounts payable vouchers in the following locations in Vantagepoint:
- , in the desktop application
When you pay AP vouchers in Vendor Payments, you can generate any of the following forms of payment:
- Checks: Printed paper checks with a check stub
- Electronic payments: Also referred to as electronic funds transfers (EFTs), these payments use the following formats:
- NACHA (ACH network): You download a .txt file in a NACHA file format that you send to your bank to make the vendor payments.
- SEPA: You download an .xml file and send it to send your bank to make the vendor payments.
- 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.
Your bank uses the payment information in these files to make direct deposit payments to your vendors' bank accounts.
- Wires: You record wire payments in Vantagepoint that have already been paid to vendors by your bank.
- Direct debits: You record direct debits in Vantagepoint that have already been paid to vendors by your bank.
When you process a vendor payment run, you can also:
- Print and/or email remittance advices to vendors, which document the payment information.
- Print file copies of all the payments in a payment run.
For each vendor payment run, you choose how to select AP vouchers to pay in the run:
- Automatically: The payment run includes AP vouchers for all vendors that match the selection criteria that you specify.
- Manually: The payment run includes only those AP vouchers that you specifically select.
In one vendor payment run, you can:
- Include payments for both printed checks and EFTs if you use a mix of both. Or, you can chose to include only check or only EFT payments in a vendor payment run.
- Select to pay vouchers that have different banks funding the payment. You print and number each bank's payments separately when you process the payment run.
- Related Topics:
- Checklist: Processing Vendor Payments
Use this checklist to understand the overall process for generating check or electronic payments to pay vendors for accounts payable vouchers. - How to...
In Vendor Payments, you create manual or automatic payment runs, select AP vouchers to pay, process the payment run, and post the payment run. You can also download payment files to send to a bank. - Fields and Options
Use the pages of the Vendor Payments form and related dialog boxes to review AP voucher balances and pay AP vouchers. - Learn More About...
Learn more about processing payments in Vendor Payments. For example, you can review the effects of posting payments, background on assigning numbers to payments, or how to make vendor payments for ACH/NACHA, SEPA, or ClieOp EFTs.
Parent Topic: Cash Management