Photo by Karl Steinbrenner

ePayables

2012 Commonwealth of Virginia Annual Card Summit

Department of AccountsAmy Butler

Helen Dickinson

Agenda

• What are Electronic Payments (ePayables)?

• How does the COV ePayables Program work?

• How much does it cost?• What are the benefits?• Q&A

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ePayables Summary

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• Bank of America solution implemented by DOA

• Managed separately from Purchasing Card Program

• Process Accounts Payable payments to vendors via credit card 14 days before due date.

ePayables

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How does the ePayables Program work?

ePayables - Vendor Edit Table

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ePayables Check Number

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ePayables–How does it work?

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• Vendors each have their own credit card # with zero balance

• Works receives payment file

• Cards are funded with authorized invoice amounts

• Remittance emails are sent notifying vendors to process

Remittance Advice Email

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Original Payment Notification Date: 03/01/2012

 Commonwealth of Virginia Agency: 000-VA DEPARTMENT OF TESTING

 Vendor Payment Reference: P1234567 Vendor Name: TESTCOMPANY INC Charge Amount: $13,388.76Card Number Ending In: 0123Name on card: TESTCOMPANY INCBilling Address: 101 N 14th St Richmond VA 23219 To receive payment for the invoice(s) below, please draft the total amount of $13,388.76 AS A SINGLE TRANSACTION on your dedicated credit card with the account ending in 0123. INV DATE INVOICE NBR CUSTOMER ACCT# INVOICE AMT OFFSET AMT NET PAID AMT Invoice Description Voucher--------------------------------------------------------------------- ----------------------------------------------------------------------------------------------2012-01-12 027110 $13,388.76 $13,388.76 $13,388.76 MAINTENANCE SUPPORT 0022111 ------------TOTAL: $13,388.76 Please refer questions regarding the processing of this payment to our eCommerce department at ecommerce@doa.virginia.gov or call 804-692-0473.

Thank You,Department of AccountsCOMMONWEALTH OF VIRGINIA

ePayables Cost to Participate

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• DOA does not charge a fee to vendors that participate.

• Vendor’s merchant fees for these transactions still apply.

ePayable Benefits

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• Enhances cash flow• Increases efficiency• Less exception handling• Increased security• Going green• Commonwealth regains lost rebate

opportunities• No change to current invoicing

procedures

Questions

Q & A

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ePayables Contact Information

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ePayables Contact Information:

Department of AccountseCommerce Hotline: (804) 692-0473

Email: eCommerce@DOA.Virginia.Gov