Vendor Payments
Use the Vendor Payments application in Cash Management to pay AP vouchers for invoices received from vendors.
Entering AP Vouchers
You enter vendor invoices as accounts payable vouchers in the following locations in Vantagepoint:
- , in the desktop application
Types of Vendor Payments
When you pay AP vouchers in Vendor Payments, you can generate the following forms of payment:
Payment Type | Details |
---|---|
Checks | Printed paper checks with a check stub |
Electronic payments | Also referred to as electronic funds transfers (EFTs). You generate a file with payment information to send to your bank or third party, so they can pay your vendors. You can process EFT payments, using the appropriate file formats for the following:
Your bank or third-party payer 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. |
Remittances and File Copies
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.
Automatic or Manual?
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.
Printed Checks and/or EFTs
In a single vendor payment run, you can:
- Include payments for both printed checks and EFTs if you use a mix of both. Alternatively, you can chose to include only checks 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: Before You Process Vendor Payments
Before you process checks and electronic payments in Vendor Payments, you must specify related settings and enter the AP vouchers. - How to: Common Steps for Processing Vendor Payments
Certain steps for vendor payment runs, such as reviewing a schedule of unpaid vouchers, are the same across the different types of payment runs. - Fields and Options
Use the pages of the Vendor Payments form and related dialog boxes to review AP voucher balances and pay AP vouchers. - ACH (NACHA) Electronic Vendor Payments
In Vendor Payments in the Cash Management application, you can process ACH (NACHA) electronic payments to pay vendors for AP vouchers. - Printed Check Vendor Payments
In Vendor Payments in the Cash Management application, you can process vendor payments as printed checks. - Direct Debit Vendor Payments
In Vendor Payments, you create a vendor payment run to record the direct debit payments that your bank already made to pay vendors for AP vouchers. - Wire Vendor Payments
After you use your bank's wire system to pay vendors for AP vouchers, you create a vendor payment run in Vantagepoint to record the wire payments that your bank already made. - SEPA Electronic Vendor Payments
In the Vendor Payments in the Cash Management application, you can process Singe Euro Payments Area (SEPA) electronic payments to pay vendors for AP vouchers. - ClieOp Electronic Vendor Payments
In Vendor Payments in the Cash Management application, you can process ClieOp electronic payments to pay vendors for AP vouchers. - Corpay Vendor Payments
In Vendor Payments in the Cash Management application, you can process electronic payments (EFTs) and automatically send the payment information to Corpay, a third party, so they can pay your vendors. - Initial Setup for Different Types of Vendor Payments
Before you can process different payment types in Vendor Payments, you must specify settings for the specific payment type, such as ACH (NACHA) electronic funds transfer (EFT), printed check, or direct debit. - 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