Initial Setup Before You Can Make Vendor Payments for Direct Debits

If you pay vendors via direct debits, review the settings that you must complete for banks, vendors, the vendor payment template, and automatic payment numbering.

Location in Vantagepoint	Setting
Settings > Cash Management > Banks	Set up the banks that you use to make direct debit payments to vendors.
Hubs > Firms	For vendor-type firms that will receive wire payments: In the Wires and Direct Debits section of the Vendor tab: Enter the information for the vendor's bank that will receive the wire payments (bank ID, bank account ID, and so on).
Settings > Cash Management > Accounts Payable	On the Payments tab, the format that you select in the Printed Payment Format field and the template that you enter in the Template field control what the vendor payments look like when you print any type of vendor payment using the Print Payments or Other Actions > Print File Copy actions on the Payments grid on the Printing and Numbering page in Vendor Payments. The printed payments for direct debits have "NON-NEGOTIABLE" printed on them. The file copies have "COPY" printed on them.
Settings > Accounting > Transactions	In the Bank Transactions section, you can specify that the payment transactions for a bank be automatically numbered and enter a starting number to use for the next payments that are processed. You specify whether the auto numbering applies for all types of payments or only electronic payments. When auto numbering is not turned on, you assign a starting number for each bank's payments in a vendor payment run by clicking Assign Numbers on the Printing and Numbering page in Vendor Payments.

Making Vendor Payments with Direct Debits

For links to all related procedures for making these vendor payments, see How to Pay Vendors with Direct Debits, in the Cash Management section of the help.