Using Accounts Payable

Checks: Maintaining Bank Account Info for e-Check ProcessingUnderstanding Bank AccountInformation ande-ChecksThis section discusses how bank account information is used and stored.Discussions on how address IDs are captured, how vouchers are selected forpayment by e-check, and how Colleague handles prenoting are also included.Bank account information is critical to e-check processing. Without bankaccount information such as routing and bank account numbers or financialinstitution, branch transit, and bank account numbers, you cannot payvouchers with e-checks.Storing Bank Account InformationBank account information is stored as default bank account information or bya specific address. Default bank information has no address associated with it.Bank account information can be entered into Colleague using the BankAccount Info Entry (BAIE) form or by using WebAdvisor.When bank account information for individual vendors, students, andemployees is entered into Colleague using the BAIE form, you can choose tostore vendor, student, and employee bank account information as eitherdefault bank account information or as address-specific bank accountinformation. Student and employee bank account information is usuallystored as default bank account information because students and employeesusually have only one bank account into which your institution will pay.When bank account information is entered into Colleague using WebAdvisor,student and employee bank account information is always stored as defaultbank account information.When bank account information is entered into Colleague using WebAdvisor,vendor bank account information can be stored as default bank accountinformation or address-specific bank account information. The ability to storebank account information by specific address allows your vendors to usedifferent bank accounts for different store locations.362 Using Accounts Payable, June 19, 2009© 2009 Datatel, Inc.