Preparing to Send ACH Payments
There are a few steps and processes involved in implementing the GL/ACH Module. We’ve outlined some best practice to help you facilitate the process of sending ACH payments. With just a few steps, you can begin to eliminate the hassle of relying on check signers and the postal system.
ONE: COMMUNICATE TO VENDORS
- The first step is initiating the process is notifying your vendors your company’s move to making electronic payments via ACH. Consider inserting a targeted completion date to facilitate the switch to ACH payments.
- Communication can be facilitated by:
- Adding a message to all outbound physical checks communicating your ability to pay electronically (& faster!)
- Create a form letter to include with the physical check
- Draft an email communication and send to all vendors
TWO: CREATE FORM TO GATHER NECESSARY INFORMATION
- You will need gather specific information to complete your vendor setup.
- Customers have the most success when they create a standardized form that ensures receiving all the necessary information required for setup in a consistent manner.
- Upon receipt of the form and associated vendor paperwork, make sure to save those documents on secured shared drive, or better yet, a Document Management system to save these forms for audit purposes
THREE: MAKE COMMUNICATION EASY AND ACCESSIBLE
- Establish an email address and/or communicate a phone number to the vendors than can be used to communicate ACH information, address questions and confirm setup.
FOUR: FINALIZE SETUP IN WOLFEPAK ERP
- Take the necessary steps in your WolfePak ERP to setup the vendor for ACH payment
For implementation questions or support issues, please contact us at firstname.lastname@example.org.