R365 Payments Service

R365 Payments saves time and money by streamlining payment processes for R365 customers. With secure and timely payments, this added service helps strengthen vendor relationships while reducing administrative burdens for restaurant businesses. You create a payment in R365, and R365 Payments does the rest!

This added service delivers payments to each of your vendors using the best available payment method, whether that be check, ACH, virtual credit card (vCard), based on the needs of you and your vendor. This article provides an overview of the R365 Payments service. To learn more about how R365 Payments helps protect your financial data, see Security and Fraud Prevention with R365 Payments.

Reach out to your CSM or R365 Support to learn more about how this service can enhance your R365 experience.

System changes

When the R365 Payments service is enabled, a number of field label changes occur in your database. These minor changes assist in usage of the R365 Payments service and does not impact existing data.

Vendor Record - The Name, Payment Terms, and Address fields are required for vendors that will use R365 Payments. Additionally, when a payment method is assigned to the vendor, two additional fields appear: Last Payment Method - Shows the last type of payment created. Exclude from R365 Payments - Excludes a vendor from this feature.
Bank Account Record - The R365 Payments sub-section appears on the Bank Account record. This section displays the setup status and an option to exclude the bank account from being used for R365 Payments.
AP Transactions - Additional columns appear on the AP Transactions table, including R365 Payment ID, R365 Payment Status, Status Last Updated, R365 Payment Method, and Batch Code.
System Preferences - A new Payments tab displays the setup status of R365 Payments and lists the user-selected stakeholders who will be contacted if issues arise in R365 Payments.

Security

Once activated, any user who previously had the ability to create and approve AP payments can create a payment with R365 Payments. 

AP payments permissions are found in the permission tree as follows:

• Accounts Payable

  • AP Payments

    • View AP Payments

    • Edit AP Payments

    • Create ACH Payments

    • Apply AP Transactions

    • Approve AP Payments

    • Unapprove AP Payments

    • Void AP Payments

    • Unvoid AP Payments

    • Delete AP Payments

Initial Setup

The initial setup of R365 Payments requires updating bank accounts and vendors to include necessary information for successful payments. If you do not want to include a bank account or a vendor in these types of payments, you can exclude them from this service by marking them as Excluded from R365 Payments. Complete setup to initiate the verification process where all bank account and vendor information is verified by R365. For a walkthrough of the setup process, see Getting Started.

To prevent any delays with R365 ACH payments, if you have positive pay ACH enabled with your bank, ensure that R365’s company ID (1452758311) has been added to your approved list.

Payments Process Flow

The following is an example workflow using R365 Payments after initial setup is completed:

1. An AP invoice for an R365 Payments vendor is approved and ready to be paid.

2. Using either the AP Invoice record or Payment Run record, a user with access to R365 Payments prepares to submit the payment.

3. The user creates the payment.

4. The payment is delivered electronically for payment processing.

5. The payment is issued to the vendor based on the agreed upon payment method:

   • Electronic Payments (ACH or vCard) - When the payment run is processed by the R365 Payments Team, the R365 Payment Status on the AP Payment record changes to Issued.

   • Physical Check Payments - When the check has been mailed, the number value on the AP Payment record is updated to reflect the R365 Payments Number.

6. The vendor receives the payment and the process is complete.

For more information, see Flow of Funds.

Paying Vendors with R365 Payments

Vendors can be paid using Payment Runs. For more information, see Paying Vendors with R365 Payments.

Managing Bank Accounts, Vendors, and Legal Entities

Each bank account that is used to issue payments to vendors using R365 Payments must be properly setup. If a bank account needs to be removed from R365 Payments, this can be done easily and effortlessly. For more information, read the article about adding or removing bank accounts with R365 Payments.

Each vendor that is paid using R365 Payments must have the Payment Method field on the Vendor Record set to R365 Payments. If a vendor needs to be removed from R365 Payments, this can be done easily and effortlessly. For more information, read the article about adding or removing vendors with R365 Payments.

New legal entities can be added using the self-service onboarding form. To remove a legal entity, please contact R365 Support.

The self-service onboarding form can be used to add new legal entities and bank accounts.