Using Accounts Payable

Understanding Bank Account Information and e-ChecksCanadian bank account information includes the following:• Fin Inst (Financial Institution) [Number]• Branch Transit [Number]• Account Type• Prenote [Flag] – This flag is always set to “No” for Canadian bank accountinformation. Canadian bank account information cannot be prenoted.• E-Check Pay [Flag]• E-Check Advice [Type]• Effective DateBank account information can be entered into Colleague on the BAIE form.See “The Bank Account Info Entry (BAIE) Form” on page 368 for moreinformation.If your institution uses WebAdvisor 3.x, bank account information can also beentered on the Bank Account Information Web forms. See the WebAdvisor forColleague Finance manual for more information.Prenoting Bank Account InformationBefore an e-check payment can be made to a U.S. bank account, the U.S. bankaccount information must be prenoted. Prenoting is verifying the accuracy ofthe bank account information.This is a requirement for U.S. bank account information only. Canadian bankaccount information cannot be prenoted.Use the E-Checks Prenotes (ECPP) process to produce a prenote file. See“The E-Check Prenote (ECPP) Form” on page 375 for more information. Thefile produced by the ECPP process should be transferred to your financialinstitution using your preferred method.Your financial institution will verify the bank account information and notifyyou of the results according to their procedures.Note: If you have not prenoted bank account information with yourfinancial institution before, your financial institution may request someadditional information from you.Using Accounts Payable, June 19, 2009 367© 2009 Datatel, Inc.