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Cool Feature of the Week: Consolidating Payments to a Single Vendor

April 16, 2009

Businesses often pay the same vendor many times a day, week, or month. When this happens, it is usually most convenient for the vendor (and the environment) to consolidate bills into a single payment. There are a few basic challenges in doing this, however:

  • The bill payer typically needs to take manual action in the accounting system to consolidate invoices into a single payment 
  • If the check signing authority is different from the person preparing the bills for payment, then supporting information usually needs to be forwarded for review prior to signing the check.   
  • If the business is not careful, it is possible to confuse the vendor if there is not enough remittance information with the payment (so the vendor knows how to apply the payments). 

What extra steps do you have to do in to pay the same vendor with one payment for multiple bills? None! 

With you review and approve bills through our normal workflow and audit trail features. If an approved payer pays the same vendor for multiple bills on the same day, will automatically combine those bills into one payment and send the vendor the appropriate remittance information so they know how to apply the payment. No decision-making, no manual processes, no need to review the combined payment amount, no printing or mailing, no hassles, and very happy vendors. 

Next week, another cool feature!

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