Beanworks has partnered with SmartPayables to provide check payments to its customer base.
Check payments are also offered via Nvoicepay. Based on your needs and preference, you can choose check payments either via SmartPayables or Nvoicepay. To learn more about Nvoicepay, please read here.
Legal entity is enabled for check payment method.
Complete vendor address is synced as part of syncing the vendor list into Beanworks.
HOW IT WORKS
STEP 1: On-boarding / Setup with SmartPayables
Void Check for the Checking Account
Starting Check Number you prefer (i.e. Default Check # is 5000)
E-mail address you would like Smart Payables to use for correspondence
You will receive a pair of micro-deposits per account. Please confirm these amounts either through the email from our payment partner or with a member of the BeanPay team. The next step would be then to approve your check proof before you can begin automating your checks through Beanworks. Also, please note we do not offer logos anymore.
STEP 2: Vendor Enrolment
As long as we have the complete vendor address (including phone and country) and the legal entity has been enabled for checks, the vendors will be auto enrolled for checks. This means that you will not have to manually go and enable checks for the vendors.
Remittance email is optional for check, however we do recommend sending a remittance email for all payments including checks.
STEP 3: Payment Workflow
3.a) Once the payments are created and the details added, the payments are submitted for approval and approved based on your approval metrics.
Note: The customer selects 'Check' payment method in Beanworks.
3.b) When the payment is released from Beanworks, it is in the status [RL]. The payment changes from Released [RL] to Paid [PD], when we receive confirmation from SmartPayables that check has been mailed out.
3.c) Payment Data can be exported from Beanworks into the accounting system after the payment has changed into paid [PD] status. Currently, 'Check' is exported as a payment method.