Adding and Maintaining Vendor Banking

Objective

After completing this lesson, you will be able to explain how to maintain Vendor Banking.

Vendor Banking

This lesson involves collecting and working with sensitive banking information. Make sure that you collect this data using secure methods and store it in a secure location.

When working with imported files, make sure you store the completed files securely. Work with your IT and security departments to understand and follow your internal policies for working with secure data.

The SAP Concur import tools use HTTPS or PGP encryption and are considered secure.

Adding Vendor Banking

For vendors to receive payments through Invoice Provider ACH, they must provide you with their banking information. Then, you must enter this information into the Concur Invoice system.

You have two ways to enter this information:

  1. User interface: Invoice Owners and Vendor Managers can be given the ability to update vendor banking manually in the system. This process is often preferred by customers who do not have a lot of vendors, do not have a lot of vendors being paid through ACH, or are not able to easily build and maintain an import process.
  2. Import: You can use the Excel-based import or the 300 record of the Approved Vendor Import (Professional Edition only) to maintain your vendor banking details. This process is often preferred by customers who have a lot of vendors, have a lot of vendors being paid through ACH, or have the technical ability to build and maintain an import process.

Important!

Along with adding banking information for your vendors, you must review the value in the Pay Method Type field for each vendor. You must set it to ACH for those vendors that wish to be paid by bank transfer.

It is also possible to make this field modifiable on the Invoice Header Form. This gives invoice owners the ability to change the payment method for each invoice. This can be useful if a vendor wants different invoices paid by different methods.

You may require assistance from your implementation team to make this change.

Pay Method Type field is highlighted. Details are provided in above paragraph.

Be aware that there is currently no mechanism for vendors to enter their banking information into Concur Invoice on their own. They must provide the details to you to add it to the system.

User Interface Maintenance

Depending on how many of your vendors opt to receive payments electronically, you may choose to enter vendor banking information manually into the system. The ability to do this is configured by Invoice Group.

Group Configurations

For each Invoice Group, you can define if vendor banking information is Hidden, Required, or Optional for Invoice Owners and Vendor Managers.

You must analyze their Invoice processing procedures to determine which roles are responsible for gathering and entering this information.

Note that you may not be able to edit your groups without assistance. If you do not have the ability, you can contact SAP Concur for assistance.

Select whether vendor banking information is Hidden, Required, or Optional for Invoice Owners and Vendor Managers.
Invoice Owner
Allowing Invoice Owners to enter vendor banking information decentralizes the capture of this information; allowing owners to enter banking information for the vendors they are working with directly.
Vendor Manager
Allowing Vendor Managers to enter vendor banking information centralizes the capture of this information; allowing a small group of administrators to manage the process and vet the information as it is gathered.
Hidden
The Hidden option makes it impossible to view or edit vendor banking information in the user interface. This option should only be used if you are managing banking information with an import.
Required
The Required option makes banking information required for all vendors. This option should only be used if you are certain that all of your vendors will provide banking information.
Optional
The Optional option allows for banking information to be entered or left blank. This is the most flexible option and the option recommended by SAP Concur.

Entering the Details

Once the option has been configured, users can enter the details on bottom of the vendor details screen.

The image below shows how it looks for Vendor Managers. You can select the image for a larger view.

Enter the required Banking Information on the Big G Enterprises page and choose Save.

Import Maintenance

If you have many vendors or a large percentage of your vendors wish to receive payments by ACH, importing vendor banking information may be a more efficient method than adding it manually.

There are two options to import this data:

  1. Excel Import: Uses an Excel-based import to import vendor banking details. Available to Standard and Professional customers.
  2. CSV Import: Uses a proprietary CSV format to import vendor details, including banking information.

Excel Import

The Excel import must be activated in your site before it can be used. It is activated in Invoice Settings by selecting the Allow Payment Manager to change banking information checkbox.

The template for the Excel import is available to users who have been assigned the Payment Manager permission. Users with that access have a Banking Import option within the Payment Manager tool.

Import Vendor Banking Information Using the Excel Import

The following steps assume that you have already accessed the Concur Invoice system as a user with Payment Manager access.

Steps

  1. Access the Invoice Tools.

    Select Invoice to access the Invoice Administration Tools.

    Select Invoice from the Home menu.

  2. Access the Payment Manager Tools.

    Select Payment Manager from the Payments menu.

    Select Payment Manager from the Payments menu at the top of the screen.

  3. Access the Banking Import Tools.

    Select Banking Import to access the Banking Import tools.

    Select Banking Import from the left side of the screen.

  4. Download the Template.

    The Banking Import page is displayed. Select Download Template and then open the file.

    Select the Download Template button and then open the file.

  5. Populate the File.

    Populate the excel file with banking information for each vendor as per requirement.

    Populate the file with banking information for each vendor as needed, one row per account. You can use the Vendor Banking Import Definitions tab to learn about what information goes into each column.

    Once the file is completed, save it locally.

  6. Upload the File.

    Select the Browse button to choose the completed file, and then select the Import button to upload.

    Select the Browse button to select the completed file and then select the Import button to load it.

  7. Review the Results.

    Results are highlighted on the Banking Import History page. Employ the tools available under the Actions button to examine it more closely.

    Review the results as needed. You can use the tools under the Actions button to take a closer look.

Result

Banking information has been added for the vendors included in the file. You can repeat these steps as needed to maintain your vendor banking details going forward.

CSV Import

You can also build a CSV import with your vendor banking information. This is similar to the CSV-based employee and list imports. In this case, you must build the Approved Vendor Import file and use the 300 record to add vendor banking information.

You may need a developer or assistance from SAP Concur to build the file if you have never created one of their CSV imports before.

Important

  • SAP Concur will not build the file for you but can provide guidance in the file-building process.
  • This training course does not cover the details of how to build the file. Summarizing the Course lesson at the end of this course provides links to useful resources for the creation of the file.

Now that vendor banking information has been added, you can start configuring the vendor payment processes. We'll start by seeing how batches are created.

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