This article is part of the R365 Payments training. Click here for more information on R365 Payments.
Add a New Bank Account to R365 Payments
Step 1: Open the Bank Account record that will be setup on R365 Payments and ensure that fields 1 through 6 have been correctly completed. Then, save the record.
- Note: The Status (#7) will display the current setup status of R365 Payments for your Organization.
1) Account Owner - The Legal Entity that owns the Bank Account. In order for this Bank Account to be correctly setup as a source of funds for R365 Payments, the Legal Entity must also be set to 'Active' for R365 Payments and the 'Buyer ID' must be properly entered on the Legal Entity record
2) Bank - The name of Bank connected to this Bank Account
3) Account Type - The Bank Account Type. Options include:
- Credit Card
- ZBA (Zero Balance Account)
4) Bank Account Number - The Bank Account Number for the Bank Account
5) Routing Number - The Routing Number for the Bank Account
6) Bank Name (on Check) - The name of the Bank as it should appear on any Printed Checks that are issues from this Bank Account
7) Status - The setup status for R365 Payments. This reflects the status on the 'Payments' tab of System Preferences. Statuses include:
- Pending Account Setup - This represents the need for the User to complete the required fields for one or more Vendors and/or Bank Accounts. Additionally, the User will need to add Payment Users on the 'Payments' tab of System Preferences. If a Vendor or Bank Account is not used, they can be opted out by being disabled on their record
- Pending Account Verification - This shows that all required fields for the 'Pending Account Setup' status are complete and ready to be verified
- Enabled - This shows that all required fields have been verified and payments are ready to be sent
8) Next R365 Payments Number - This field is only displayed for R365 Payments Customers who began onboarding in January 2022. This is the starting check number both when printing manual checks and when sending payments to R365 Payments
- Note: Because the checks that are sent out are tied to this bank account, enter a separate payment numbering sequence outside of your bank account's existing check stock. This will prevent any cross numbering and ensure that all current check stock remains valid
Step 2: Contact R365 Support and let them know that you are interested in adding a New Bank Account to your R365 Payments Service.
Step 3: Once R365 verifies the Bank Account, the R365 Payments Setup Status (#7 above) will update to 'Enabled'.
Step 4: The Bank Account is now ready to be used with R365 Payments!
Remove a Bank Account from R365 Payments
To remove a Bank Account from being used for R365 Payments, simply navigate to the desired record and click the 'Exclude from R365 Payments' checkbox in the bottom, right corner. Doing this will also remove the requirement to complete additional fields (#2, 4-6 above).