[Teresa Wilbur]

We are looking into paying our vendors via vouchers that our bank would pull directly from our NAV system, guessing through EDI.  Wondering, if anyone is currently paying their vendors this way? Would love to get some feedback on this.

Thank you.

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Teresa Wilbur
Controller
noosa yoghurt
CO
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[Jason Nicolaou]

Setup a few base profiles then copy for individual needs.  Groups can also be created, e.g. accounting clerks all have the same security.  Security is a hassle that you only have to deal with once per user.

Happy Holidays!

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Jason Nicolaou
Solutions Architect
Socius
Dublin OH
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[David Machanick]

The usual method in the US is to use electronic payments (ACH). This is supported in standard NAV, though individual banks may require some minor customizations to the exported ACH file.

Also, there are not vendor remittance notices on most versions of NAV  – they can be added if needed by customizing the vendor remittance report which is generated for all vendors.

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David Machanick
Sikich LLP
Garland TX
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[Peter Makki]

Hi 

Take a look into Bank Data Conversion Services. This is an interface to many banks all around the world.

It is a standard feature in NAV 2015 and above. It can also make notice to your vendors out of the box.

And many more nice features like account statements, lockbox and positive pay files.

Best regards

Peter Makki

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Peter Makki
CEO
AMC Banking
Frederiksberg
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[Rob Hansen]

If you implement electronic payments, we have an add-on called DocumentPath which will enable you to email out the remittance advices in batch mode directly from the payment journal.  There’s always been a bit of a disconnect in base NAV in this area as the process hasn’t been entirely electronic…the payments are executed electronically, but then you were left printing hardcopy remittance advices to mail out (or manually sending emails to the vendors with the info one by one).  Once you make your entire payment process electronic, you’ll wonder how you ever did things before!

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Rob Hansen CPA, CMA
Partner
DynamicsPath
Toronto, ON Canada
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