Setting up ACH for Vendor and Foundation Bank Accounts

Information you will need ahead of time:

• List of vendors for whom you are setting up ACH Payments
• Banking information for each vendor, including the bank name, bank account number, bank routing number, and any additional information you wish to add to the vendor account.
• Company Federal Tax ID (if not already included when the company was set up)
• Name of the Bank Account issuing ACH payments (this may be a new account, at which point you will need to set up the initial bank account first).
• For the bank account issuing payments, you will need the actual bank account number and bank routing number.

  Setting up the Vendor

1. Click on Vendors

2. Search for a vendor for whom you want to set up ACH Payments

3. Click on the Vendor number to open their record

4. Click on Vendor

5. Click on Bank Accounts

6. Click on New

7. Give the vendor account a Code such as "Voyage" or "USB"

8. Give the vendor account a name such as "U.S. Bank"

9. Fill in the vendor's bank account number under the field "Bank Account No."

10. Add the Bank's Routing Number under the field, "Transit No."

11. Click on the arrow to go back to the vendor record

12. Click on Invoicing

13. Click on Show more

14. Click on Choose a value for Payment Method Code

15. Click on Bank Transfer

16. Click on Choose a value for Preferred Bank Account Code

17. Click on the vendor account you just added

18. Click on the back arrow to leave the vendor record

19. Repeat steps 2-18 for all the vendors for whom you wish to set up ACH payments

20. Click on the company name to go back to the home page

  Checking the Company

1. Click on Setup

2. Click on Company Settings

3. Ensure the company's Federal ID No. is filled in

4. Ensure the company has a name

5. Click on the back arrow to return to the home page

  Setting up the Bank Account

1. Click on Cash Management

2. Click on Bank Accounts

3. Click on the bank account that will be issuing the ACH Payments, for example, MAIN CHECKING

4. Ensure the Bank Account has a code, or No.

5. Ensure the Account Number is filled in for the field, "Bank Account No."

6. Ensure the Routing No. for the bank is filled in under "Transit No."  You may have to click Transfer to open the section first, and then fill in the routing number

7. Click on Payment Export Format

8. Click on Choose a value for Payment Export Format

9. Click on Select from full list

10. Click on New

11. GIve the Export type a Code.  The code should be something like the company name/abbreviation-ACH, like EMP-ACH, or akoya-ACH

12. Give the export type a name.  The name can be a duplicate of the code, or an expanded version of the code, such as Empowered ACH, or akoyaGO ACH

13. Select Export-EFT under the "Direction" column

14. Drag the highlighted element

15. Click on Data Exch. Def. Code

16. Click on US EFT DEFAULT.  Note: Most will use "US EFT DEFAULT", but some need "US EFT IAT DEFAULT". This is something to double-check before selecting.

17. Click on OK

18. Click on OK