Getting started with the R365 Payments Service involves setting up and managing bank accounts, vendors, and legal entities throughout the onboarding process—before, during, and after onboarding.
Prerequisites
Complete the following steps to initiate the service:
Complete an initial review of all vendor records - When R365 Payments is enabled, vendors designated for R365 Payments will be updated by the payments team. Learn more about updating vendors below.
Sign up for R365 Payments - Complete the sign-up process with your CSM to enable R365 Payments for your organization and begin enrolling vendors.
Set up email notifications - On the Payments tab of System Preferences, enter the contact information for the key individuals who should receive notifications related to R365 payments.
Enable R365 Payments for legal entities - Work with your R365 Payments Specialist to complete the R365 Payments section on legal entities that will use the R365 Payments service.
Once you have completed these prerequisites, you are ready to get started. Continue to work with your R365 Payments Specialist throughout the onboarding process. They are there to help you and ensure your success!
Updating Bank Accounts
To complete setup, each Bank Account record must be updated. Bank accounts designated for R365 Payments will need to have specific fields filled out. For bank accounts not intended for R365 Payments, select the checkbox labeled Exclude from Payments.
Enabling R365 Payments for a bank account
On the Bank Account record, ensure that the following fields are correctly filled out:
Legal Entity
Bank
Account Type
Bank Account Number
Routing Number
Bank Name (on Check)
Save the Bank Account record.
The bank account is successfully set up for use with R365 Payments, and the requirement is met.Repeat these steps for all bank accounts to used with R365 Payments.
If the legal entity is not set up to use R365 Payments, contact your R365 Payments Specialist to enable R365 Payments on the Legal Entity record.
Excluding a bank account from R365 Payments
If a bank account will not be used for R365 Payments, select the Exclude from R365 Payments checkbox on the Bank Account record.
Save the Bank Account record.
The bank account is excluded from being used with R365 Payments, and the requirement is met.Repeat these steps for all bank accounts that will not be used with R365 Payments.
Viewing the R365 Payments setup status of a bank account
The Status field, found on the Bank Account record or the Payments tab in System Preferences, reflects the current setup status. The status will be one of the following:
Pending Account Setup - The user must complete the required fields for one or more vendors and/or bank accounts. Additionally, the user needs to add Payment Users on the Payments tab of System Preferences.
Pending Account Verification - All required fields are complete and ready to be verified.
Enabled - All required fields are verified and payments are ready to be sent.
Verification statuses can also be viewed in the Legal Entities & Bank Verification tab of System Preferences.
Updating Vendors
Before enabling R365 Payments, review all vendors to identify those with the required fields completed. When R365 Payments is enabled, the Payment method is automatically changed to R365 Payments for those vendors. After enabling R365 Payments, perform a second review to identify any vendors that were missed and set them up manually, and to exclude any vendors that should not use R365 Payments.
When R365 Payments is enabled, the Payment method is automatically updated to R365 Payments for all vendors with the completed required fields. For this reason, it is necessary to review all vendors prior to enabling R365 Payments. After R365 Payments is enabled, a second review should be performed so that any vendor that was missed can be manually set up, and any vendor that should not be included in R365 Payments can be excluded.
Before enabling R365 Payments
Ensure that the following fields are completed on the Vendor form for each existing vendor:
Vendor name (Basic information section)
Shipping address (Address section)
Payment terms (Payment & accounting section)
Phone and Email (Contacts section)
Learn more about creating and updating vendor records.
Enabling R365 Payments
Follow the steps below to updates initiate the switch to use R365 Payments:
Click steps to expand for additional information and images.
1) Navigate to the Vendors page and double click the vendor to open the vendor form.
2) Scroll to the Payment & accounting section and set the Default payment method to R365 Payments.
3) Click Enable electronic payments.
The enrollment form opens in a new tab.
4) Complete the Vendor Outreach Form.
This form to shares vendor information with the R365 Vendor Enrollment team. This form is intended for vendors that are currently receiving check payments through R365 Payments, as well as new vendors to R365 Payments. Once submitted, our team will reach out directly to your vendors, with primary outreach focused on virtual credit card (vCard) enrollment, to guide them through the enrollment process. This helps ensure your vendors are set up quickly and securely, while also supporting efficient and accurate payment processing.
Learn more about the R365 Payments vendor enrollment process.
The payments team will reach out to the vendor within 5-7 business days.
After enabling R365 Payments
Review the vendors page and confirm that the desired vendors are set up for R365 Payments. Additional vendors can be set up with R356 Payments as the default payment method. Learn more about creating new vendors.
Reach out to your CSM for assistance with adding a new legal entity after enabling R365 Payments.
Awaiting Verification
Once these steps have been completed for each bank account and vendor, the setup Status will be updated from Pending Account Setup to Pending Account Verification on both the Payments tab of System Preferences and the Status field on the Bank Account record.
Once the updates are verified, R365 Payments will be enabled! Until then, learn how to Pay Your Vendors via R365 Payments.