This article is part of the R365 Payments Service training. Click here for more information on R365 Payments Service
This article is an excerpt from the R365 Payments Initial Setup article. Please refer to the Initial Setup article for a full understanding of all of the requirements for setting up R365 Payments. This article will outline the steps necessary to add an additional Bank Account to the R365 Payments Service after you have already completed the Initial Setup.
Add a New Bank Account to R365 Payments
Step 1: If the Bank Account is owned by a Legal Entity that was not already setup for R365 Payments, you will need to complete the Legal Entity Setup first. When this is the case, the 'R365 Payments Status' (#6 above) will be set to 'Pending Service Agreement'. If the Legal Entity is already activated on R365 Payments the 'R365 Payments Status' will be set to 'Pending Account Verification', you can proceed to Step 2
Step 2: Open the Bank Account record that will be setup on R365 Payments and ensure that fields 1 through 5 have been correctly completed. Save the record
- Legal Entity Selector - Select the Legal Entity that owns this 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.
Account Type Selector - Select the Bank Account Type. Options include:
- ZBA (Zero Balance Account)
Bank Name (on Check) - Enter the Name of the Bank as you wish it to appear on any Printed Checks that are issued from this Bank Account through the R365 Payment Service
Routing Number - Enter the Routing Number for the Bank Account
Bank Account Number - Enter the Bank Account Number for the Bank Account
Step 3: Contact your R365 Sales Representative and let them know you are interested in adding a New Bank Account to your R365 Payments Service (if you are unaware of who your Sales Representative is, you can also contact R365 Support)
Step 4: Your Sales Representative/R365 Payments Specialist will work with you to complete the Bank Account Micro-deposit confirmation process
Step 5: Your R365 Payments Specialist will complete the Bank Account setup by confirming the Micro-deposit amounts and setting the R365 Payments Status (#6 above) to 'Enabled'
Step 6: The Bank Account is now ready to be used with R365 Payments!