Was this page helpful?
Thank you!

Comments or suggestions?



Enter Email Address (optional)
email

About online vendor payment

glossary_olpay.html

What's the difference between this and other online services?

Frequently-asked questions about online vendor payment

  • Why should I pay vendors online?

    Since you can pay bills without writing paper checks or going to the post office, it's fast and convenient. The service also lets you schedule payments up to a year in advance, to be delivered on or before the date you specify.

  • Is online vendor payment secure?

    Online services in QuickBooks are very secure.

    Online banking is protected with a password that is issued only to you. To download transactions, QuickBooks uses a secure Internet connection and high-level encryption.

    Online vendor payment is protected in the same way. It requires a password and sends payment instructions using a secure Internet connection and high-level encryption. After your financial institution receives your instructions, the electronic payments are handled by protected processing systems.

    Also, if several people use QuickBooks, you can restrict others from using online services.

  • How much does online vendor payment cost?

    The cost of online banking or online vendor payment depends on your financial institution. Contact them directly to ask for their current prices.

    Note: If your financial institution doesn't offer online vendor payment, or if you prefer not to use their service, you can use the Go onlineQuickBooks Bill Pay Service instead.

  • What are the requirements to pay vendors online?

    To use online banking or online vendor payment, you need:

    • Access to the Internet from QuickBooks.

    • A banking account at a financial institution that offers online services for QuickBooks.

      Contact your financial institution if you are not sure that they offer services for QuickBooks — Quicken services will not work.

      For online vendor payment, the account must be with a financial institution in the U.S. and you must be able to write checks on it.

  • Do my payees have to be able to receive electronic payments?

    You can use online vendor payment for all your suppliers, whether they accept electronic payments or not.

    • If the vendor accepts electronic payments, your financial institution's payment processor transmits it for you. You can include additional information with the payment, such as the invoice number, invoice date, discount, and a memo, so the vendor knows which bill to apply the payment to.

    • If the vendor doesn't accept electronic payments, your financial institution's payment processor creates and mails a physical check for you instead. You still save the time and hassle of writing, addressing, and mailing the check yourself. Remember to add about five days' lead time for processing and sending a physical check.

  • How do I apply for online vendor payment?

    If your financial institution offers online vendor payment, you apply for it at the same time that you activate online services.

    If your financial institution doesn't offer this service, you can apply for the Go onlineQuickBooks Bill Pay Service instead.

  • Can I go to different companies for different online services?

    You can only have one financial institution associated with an account in QuickBooks—usually, the financial institution where you hold the account. All the online services that the financial institution offers for QuickBooks will then be available to use with the account.

    That means:

    • You can apply for online banking for an account at the financial institution where you hold the account.

    • If you use online banking and your financial institution offers other online services as well, you can use these additional services with the same QuickBooks account. (You may have to pay additional fees.)

    • Don't try to use a QuickBooks account at one financial institution with an online service from a different one.

      For example, if your financial institution doesn't offer online vendor payment, you can sign up with the Go onlineQuickBooks Bill Pay Service instead. However, rather than try to use this service with an existing checking account in QuickBooks, create a new QuickBooks account to use with it.

  • How soon can I start using online vendor payment?

    When you can start using online banking or online vendor payment depends on your financial institution.

    After you activate online services, it typically takes from five to ten working days for the financial institution to send you the logon information you need to set it up in QuickBooks. Until you have this information, you cannot use the online service.

  • When I pay a vendor, when are the funds taken out of my account?

    Online payments to vendors usually post within 24 hours, or on the next business day.

    Note: Even though the funds have left your account, the vendor may still not have received the payment. For example, if the payment processor has to create a paper check, it may take up to four business days for the vendor to get it.

    However, you can time a transaction to take place when you want, and so manage your cash flow. For example, if you have a payment due on the first of each month, you could send your payment request several days early, with instructions to post on the first of the next month.

  • How fast do online payments arrive?

    If the vendor accepts electronic payments, they should receive your funds within two days of you sending the payment instructions.

    If the vendor doesn't accept electronic payments, the payment processor will mail a paper check for you when they receive your payment instructions. The vendor should receive the check within four business days.

    In either case, the vendor receives the payment quickly.

  • How do I find out if an online payment has been made?

    To find out if an online vendor payment was sent to a vendor, send an inquiry to your financial institution from the Online Banking Center.

  • How do I cancel an online vendor payment?

    If your financial institution's payment processor has not yet sent the payment to the vendor, you can cancel the online vendor payment from the Online Banking Center.

    However, if the payment has already been sent, you cannot cancel it. If the vendor does not accept electronic payments and the payment processor has created a check for them, you may be able to contact your financial institution to put a stop payment on the check.

See Also

KB ID# H_OLP_INFO_ONLINEPAY
9/19/2014 2:49:37 AM
PPRDQSSWS400 9102 Pro 2013 1ea7c7