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ePayables. 2012 Commonwealth of Virginia Annual Card Summit Department of Accounts Amy Butler Helen Dickinson. Agenda. What are Electronic Payments (ePayables)? How does the COV ePayables Program work? How much does it cost? What are the benefits? Q&A. ePayables Summary.

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Epayables

ePayables

2012 Commonwealth of Virginia

Annual Card Summit

Department of Accounts

Amy Butler

Helen Dickinson


Agenda

Agenda

  • What are Electronic Payments (ePayables)?

  • How does the COV ePayables Program work?

  • How much does it cost?

  • What are the benefits?

  • Q&A


Epayables summary

ePayables Summary

  • Bank of America solution implemented by DOA

  • Managed separately from Purchasing Card Program

  • Process Accounts Payable payments to vendors via credit card 14 days before due date.


Epayables1

ePayables

How does the ePayables Program work?


Epayables vendor edit table

ePayables - Vendor Edit Table


Epayables check number

ePayables Check Number


Epayables how does it work

ePayables–How does it work?

  • Vendors each have their own credit card # with zero balance

  • Works receives payment file

  • Cards are funded with authorized invoice amounts

  • Remittance emails are sent notifying vendors to process


Remittance advice email

Remittance Advice Email

Original Payment Notification Date: 03/01/2012

 Commonwealth of Virginia Agency: 000-VA DEPARTMENT OF TESTING

 Vendor Payment Reference: P1234567

 Vendor Name: TESTCOMPANY INC

 Charge Amount: $13,388.76

Card Number Ending In: 0123

Name on card: TESTCOMPANY INC

Billing Address: 101 N 14th St Richmond VA 23219

To receive payment for the invoice(s) below, please draft the total amount of $13,388.76 AS A SINGLE TRANSACTION on your dedicated credit card with the account ending in 0123.

INV DATE INVOICE NBR CUSTOMER ACCT# INVOICE AMT OFFSET AMT NET PAID AMT

Invoice Description Voucher

--------------------------------------------------------------------- ----------------------------------------------------------------------------------------------

2012-01-12 027110 $13,388.76 $13,388.76 $13,388.76

MAINTENANCE SUPPORT 0022111

------------

TOTAL: $13,388.76

Please refer questions regarding the processing of this payment to our eCommerce department at [email protected] or call 804-692-0473.

Thank You,

Department of Accounts

COMMONWEALTH OF VIRGINIA


Epayables cost to participate

ePayables Cost to Participate

  • DOA does not charge a fee to vendors that participate.

  • Vendor’s merchant fees for these transactions still apply.


Epayable benefits

ePayable Benefits

  • Enhances cash flow

  • Increases efficiency

  • Less exception handling

  • Increased security

  • Going green

  • Commonwealth regains lost rebate opportunities

  • No change to current invoicing procedures


Questions

Questions

  • Q & A


Epayables contact information

ePayables Contact Information

ePayables Contact Information:

Department of Accounts

eCommerce Hotline: (804) 692-0473

Email: [email protected]


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