Payment Methods

R365 Payments empowers authorized users to send and schedule payments to vendors. During the initial setup, R365 works with your vendors to determine the most cost-effective method of payment for your organization, whether that be by check, ACH, or virtual credit card. 

This article describes the types of payment methods available, how they work, as well as some helpful tips to keep payments and balances running smoothly within your organization.

Check

Checks can be printed and mailed to vendors using R365 Payments. Because the physical check must be mailed and the vendor must deposit the check to their bank account, this method generally takes about 7-10 business days and requires a fee to process.

To determine whether the check displays the name and address of the location or of the legal entity, on the Miscellaneous tab of System Preferences, set the Print Checks From drop-down to either Location or Legal Entity.

To print physical checks, the vendor's mailing address must be completed on the General tab of the vendor record.

The date printed on checks will reflect the date the payment was sent to the vendor, not the date entered by the user on the payment record.

ACH

An ACH is a transfer of funds made electronically from one bank to another. A small fee is required to process these types of payments. ACH payments can be processed in 3-4 business days, depending on bank requirements. 

vCard

vCard is a virtual credit card used to pay vendors in R365. Not only are vCards the most secure method of payment, but their use also results in cashback, making vCards the best option for your organization. Payments made by vCard are usually processed in 5-6 business days.

R365 Payment Methods in R365

AP Transactions

AP Transactions displays the R365 Payment Method used for all AP payments that were made using R365 Payments.

If the column does not appear in the table, select the Show/Hide Columns drop-down and select the checkbox next to each column to include.

Vendor Record

The Vendor Additional Info tab within the Vendor record shows the most recent payment method processed through the R365 Payments service.

Vendors Page

The Vendors page includes the Last R365 Payment Method column which displays the most recent payment method used by the R365 Payments service.

If the column does not appear in the table, select the Show/Hide Columns drop-down and select the checkbox next to each column to include.