Overview


The R365 Payments Service is designed to save you time and money by streamlining the Payment Process from within R365.  Once you create the Payment in R365, the R365 Payments Service does the rest!


This added service delivers your Payments to each of your Vendors using the best available payment method (ACH, Virtual Credit Card, Check etc.), all based on the needs of you and your Vendor.  This article will provide an overview of the R365 Payments service.  Please reach out to your Sales Representative or R365 Support for more information on the R365 Payments service.



System Changes


When the R365 Payments Service is enabled, a number of minor field label changes will occur in your R365 Database.  This is to assist in your usage of the R365 Payments Service and will not cause any issues with your existing data.


  • Check Runs - The Check Run is renamed to 'Payment Run' on the 'Vendor' menu, and 'Check' is replaced with 'Payment' where applicable on the Check Run screen itself


  • Vendor Record - The R365 Payments Payment Method is no longer grayed out and can be selected and assigned to your Vendors



  • Bank Account Record - The 'R365 Payments Status' field appears on the Bank Account record to display the status for that Bank Account to be used with R365 Payments



  • Legal Entity Record - A new section titled 'R365 Payments' is added below the 'Intercompany' section on the Legal Entity record.  From here, your R365 Sales Rep, or R365 Payments Specialist will enable R365 Payments for each Legal Entity that will use the Service and add the Buyer ID value.


Security


Once R365 Payments has been activated, Payments can be created by all Users that previously had the ability to Create and Approve AP Payments.  These Users include individuals with the following security roles


Primary

  • Full Access
  • Accounting Manager


Secondary

  • Pay AP Invoice
  • Pay Check Run


Click here for more information on Assigning Security Roles 


Payments Process Flow


The following is an example of the R365 Payments process flow as it would occur after the initial setup process was completed:


  1. An AP Invoice for a Vendor that has 'R365 Payments' set as their Payment Method on the Vendor record is Approved and ready to be paid
  2. A User with the proper security role prepares to submit the payment on either the AP Invoice record or the Payments Screen (formerly known as the Check Run Screen)
  3. The Payment is created using the same process as creating an AP Payment ('Pay Bill' on AP Invoice, 'Create Payments' on Payments Screen) and delivered electronically for R365 Payment Processing
  4. The Payment is issued to the Vendor based on the Vendor's agreed upon Payment Method.
    • Electronic Payments (ACH, VCC etc.) - When the Payment has been received by the Vendor, the 'R365 Payment Status' on the AP Payment record will be updated to 'Issued'
    • Physical Check Payments -  When the Check has been mailed, the Number value on the AP Payment record will be updated to reflect the Check Number that was issued to the Vendor
  5. The Vendor is paid and the payment process is complete



Initial Setup


The initial setup of R365 Payments requires underwriting for each Legal Entity that will be using the service, as well as Micro-Deposit confirmation on each Bank Account that will be used to issue payments.  Finally you need to setup your Vendors that will receive the payments from the Service.  Click here to be taken through each step of the R365 Payments: Initial Setup



Paying Vendors via R365 Payments


You can pay your Vendors using the 'Pay Bill' function on the AP Invoice record, or using the Payments Screen (formerly known as the Check Run Screen).  Click here for more information on Paying Vendors via R365 Payments



Post Setup


After you are up and running on R365 Payments, as you add new Legal Entities, Bank Accounts, or Vendors to the service, you will need to go through the setup procedures for each record type.  The following articles are excerpts from the R365 Payments: Initial Setup article above.  These articles have been updated to describe the process and steps you must follow when adding a new record to the service.


  • Add a new Legal Entity - Each Legal Entity must complete an underwriting process before it can be used on R365 Payments.  Work with your Sales Representative to get this process completed.  Click here to learn more about Adding a New Legal Entity to R365 Payments
  • Add a new Bank Account - Each Bank Account that will be used to issue payments to Vendors via R365 Payments must be properly setup and validated using micro transactions.  Click here to learn more about Adding a New Bank Account to R365 Payments
  • Add a new Vendor - Each Vendor that will be paid via R365 Payments must have the Payment Method on their respective Vendor record set to 'R365 Payments'.  Click here to learn more about Setting up Vendors for R365 Payments


Legal Entity Setup


Each Legal Entity that has Locations that will be issuing payments via R365 Payments to their Vendors must be setup to use the R365 Payments Service.  This information in this article is also covered in the Initial Setup article.  Click here for more information on R365 Payments: Setting up a Legal Entity


Vendor Setup


Each Vendor that will be paid via R365 Payments must be properly setup using the R365 Payments Payment Method.  This information in this article is also covered in the Initial Setup article.  Click here for more information on R365 Payments: Setting up a Vendor


Bank Account Setup


Each Bank Account that will be used to issue payments to Vendors via R365 Payments must be properly setup and validated using micro transactions.  This information in this article is also covered in the Initial Setup article.  Click here for more information on R365 Payments: Setting up a Bank Account