What options do I have to pay non-regulated invoices?

Pay electronically by ACH or by check (managed for you by Fintech). You can even set different payment methods per location for the same vendor.

With PaymentSource Premium, you have options on how to pay your non-regulated invoices by location and set limits on how much to pay a particular vendor.  

You can choose to pay: 

• By ACH. This is the quickest, most direct method to pay vendors. You will need to obtain the following from your vendor: 

• • Routing number 
  • Bank name 
  • Bank account information 
  • A vendor contact (name, phone, and email). 

• By check, through Fintech. Clients who prefer paying by check can use Fintech’s services to generate and mail checks to vendors. Required information includes the vendor address to receive checks.  
• Outside Fintech. For some invoices, clients may arrange for payment directly with a vendor. 

Where to Set Up Payment Preferences 

You can set up your payment option in several ways: 

• Under Invoices > Manage Invoices while approving an invoice (learn more about invoice review and approval here: How do I make changes to a vendor invoice?)
• 1. Select an invoice that has a Needs Review status. (Hint: Use the filter next to the search bar to narrow down your invoice list.) 
  2. On the Schedule Payment tab, you can choose to set up payment preferences. If you skip this step, you’ll be prompted again at another point in the process.
• My Invoices. Payment preferences will need to be set for invoices before scheduling payment. 
  
  
  
• My Vendors. Update payment preferences and bank accounts (by location), vendor ID and other details. See below for more details.
  
  
  

How to Set Up Payment Preferences

ACH Payments 

Your company will need to work with vendors directly when setting up ACH payments. Payments are usually paid 24-36 hours (depending on your bank’s ACH policies). 

As noted above, the following information is required from the vendor: 

• Routing number 
• Bank name 
• Bank account information 
• A vendor contact (name, phone, and email). 

⚠️ Be sure to doublecheck all credentials before paying on an invoice. This is a direct connection between your company and the vendor, and therefore Fintech does not manage these payments.  

💡 We recommend testing this connection with a small amount to ensure a proper connection. Once you submit the credentials, they cannot be edited. To change, you will need to re-enter the credentials. 

Check Payments 

If you opt to pay by check, Fintech will manage the process for you. Fintech will: 

• Deduct the amount you choose from your bank. 
• Generate the check. The check will indicate it is generated by Fintech on behalf of your company. 
• Mail the check to your vendor. 

Add the vendor address (where the check should be mailed). If this is the same as the address on the invoice, just toggle on Same as Vendor Address. 

The return address should have been added under Settings > Payment Management. This is where checks return when they can’t be delivered. 

Providing a vendor contact is optional but recommended. 

Your vendor will receive a check that includes the invoice date, invoice number and transaction number (see example below):

Setting Payment Types Per Location

You have the option to use different payment types for each location:  

1. Go to My Vendors and choose a vendor. Pro tip: Narrow down the list by selecting Non-Alcohol.
   
2. Select the location it serves. 
3. Click Payment Preferences. 
4. Select the method of payment as outlined above under Payment Type:
   
   

Setting Up Non-Regulated Payment Rules

Read more about setting up a maximum payment amount for non-regulated invoices here: Where do I set rules for my non-regulated payments?