photo by karl steinbrenner epayables 2012 commonwealth of virginia annual card summit department of...
TRANSCRIPT
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 [email protected] 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: [email protected]