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Configuring a Funding Account

Objective

After completing this lesson, you will be able to configure a funding account in Invoice Provider ACH.

Funding Account

A funding account is a company-owned bank account used as the source account for payments made to vendors. You can have multiple funding accounts if needed. For example, you may have two business units and want to use a different funding account for each business unit. It is your responsibility to ensure you have all the funding accounts you need.

Each funding account must be tied to a unique combination of country/region, currency, and Invoice Payment Group. (The creation of Invoice Payment Groups in Concur Invoice requires the assistance of SAP Concur resources and is often not needed. Consult with SAP Concur to see if Invoice Payment Groups are right for your organization). If no groups are configured, only one funding account can be active at a time. This funding account is used for all batches.

If your site does require groups, by default, Invoice Payment Groups use the group of the invoice owner/submitter. Based on your needs, the Invoice Payment Group field can be added to the invoice header form so you can associate the invoice with a different group for payment purposes.

Note

If you are using Expense Pay Global, you can use the same accounts with Invoice Provider ACH. However, your applications must be resubmitted and the accounts reconfigured in the Invoice Provider ACH tools.

Adding a funding account requires a large amount of information to be entered across a number of screens. The following sections review each of the screens and the required information.

You might get frustrated by the amount of information you must provide and the time required to complete the forms. This is a requirement of Worldline, not SAP Concur.

Be patient, and set enough time to enter it all. This lesson gives you an idea of what information is required and how much time it will take to gather and enter it.

Account Information

The Account Information screen is first. You use this screen to enter high-level information about this account.

Index #	Field Name	Description
1	Currency	The Currency for invoices that can be paid with this funding account. Note USD is the only supported currency at the time of this publication.
2	Account Country/Region	This field is used to indicate the country/region where the bank account is located. The values available are filtered by the previously selected currency.
3	Account Display Name	This is the name that appears for the funding account on the Monitor Batches pages. The funding account name must be clear and descriptive. A good practice is to use the name of the bank (in our example we'll use Bank of America or BofA) and the country/region or currency it is for. Recommendation: You can use the same account to fund payments from multiple SAP products. However, each account must have a unique name. SAP Concur recommends using a prefix or postfix when naming funding accounts. For example: Concur BofA and Ariba BofA or BofA Concur and BofA Ariba.
4	Active	This is a simple Yes/No setting to indicate if this account is actively being used by Invoice Pay.
5	Apply Credit Memos.	This is a simple Yes/No setting to indicate if this account allows for credits to be posted to it.
6	Available For	This dropdown is used to indicate what Vendor Payment Groups this account is used for. A funding account must be unique for each combination of Currency, Country, and Group.
7	Cash Account Code and Liability Account Code	If you have specific General Ledger Accounts you want to use as Cash Accounts and Liability Accounts for your invoice payments, you can enter them in these fields.
8	Contact Information Section	This section is used to add the names, e-mail addresses, and phone numbers of two people who can resolve issues related to this account.
9	Provider	This field is used to indicate what payment partner processes the payments for this account. Note At the time of this publication, Worldline (formerly known as Bambora) is the only available option.
10	Next Button	Selecting the Next button will take you to the next screen in the wizard.

Partner Onboarding Application ID

The Partner Onboarding tab appears next. A large amount of information is entered on this screen, so we will break it down into sections.

Account Bank Information

This section is used to enter basic information required to transfer funds to and from this account, such as the routing number and account number.

Note

The fields displayed in this section may differ based on the currency and country previously selected.

Partner Onboarding tab is displayed. Enter basic information required to transfer funds to and from this account. Details about the labeled field name is provided in below table.

Index #	Field Name	Description
1	Account Owner Name	Enter the name of the account owner as shown on the bank statement of this funding account.
2	Routing Number	This is the number used to initiate transfers to and from this account.
3	Account Number	This is the account number for this bank account.

Index #	Field Name	Description
1	Estimated Sale Volume	This is the estimated annual sales of the company name identified on the bank statement.
2	Additional Company Details	The remaining fields in the top area of the screen are used to capture further details of your company. Vendors will see the value entered into the Doing Business As field in their bank statements.
3	Business Address	This section is used to enter the business address of your company. Typically, this is your primary address or billing address.
4	Director Information	The Director tabs are used to capture details of your company leadership or ownership.

Anticipated Payment Pattern

Here, you enter estimates on how you anticipate your batches will run.

Index #	Field Name	Description
1	Anticipated Payment Pattern	You use this area to provide estimates for how often you will submit batches, the average size of each batch, and the maximum batch. These fields give Worldline an idea of what your batches will look like.

Required Files

Use this area to upload additional files and documents required for Worldline to complete the setup.

Upload additional files and documents required for Worldline to complete the setup. Details about the labeled field name is provided in below table.

Index #	Field Name	Description
1	Copy ID	You use this field to upload a copy of the government issued ID of the person accepting the Terms and Conditions and has signing authority for the company. This is a required upload.
2	Bank Statement	You upload a copy of the most recent bank statement of your funding account here. This is a required upload.
3	Bank Reference Letter	Select the Download link to get a copy of the Reference Letter. Then, complete the letter and upload the completed file here. This is a required upload.
4	Business Registration Documents	Upload copies of your business registration documents here. Examples include certificates of incorporation or non-profit registration.
5	List of Board Members	If you are a public and NFP company, you can upload your board member list here.

Terms and Conditions

This area is used to accept all of Worldline's terms and conditions.

Index #	Field Name	Description
1	Acceptance Checkbox	Select the checkbox to accept the Terms and Conditions. You can select the Terms and Conditions link to review the full text.
2	Name Information	Enter the details of the person who is acting as the agent for your company in accepting the terms and conditions.
3	Send for Review Button	When all the required fields are filled out and required documents uploaded, the Send for Review button becomes active. Selecting this button sends the information to the payment partner for review.

Optional: Batch Settings

If your company has opted to use the Payment Release Management feature, a third tab called Batch Settings appears. This tab allows you to define the batch schedule and how payments are released for batches using this funding account.

Batch Settings tab is displayed. Details about the labeled field name is provided in below table.

Index #	Field Name	Description
1	Close Time	This field allows you to select the time of day that your batches close. You can choose any time on the hour or half hour. Such as 7:00 a.m., 7:30 a.m., 12:00 p.m., 12:30 p.m., and so on.
2	Time Zone	This dropdown lets you choose what time zone the previously selected time is based in.
3	Frequency	You can choose if your batches will close daily or weekly. If you choose weekly, you can also choose the days of the week batches close.
4	Require Batches to be Released	If this option is selected, a user assigned the Payment Released Manager role must manually release batches for payment. If this option is not selected, batches are paid automatically, based on the payment due date of the invoices contained in the batch.

Confirmation

Once the banking account details are entered, a confirmation process begins. The funding account must have a status of Accepted before it can be used for a payment batch.

Useful Tip

Once the information has been submitted, you are encouraged to send an e-mail to Worldline that includes the Application ID of your funding account, CCing your SAP Concur Implementation Project Manager (IPM). This can help the process go more smoothly. Use the following format:

To: applications.northamerica@bambora.com
CC: Your SAP Concur IPM
Subject: Your company name - ﹤Application ID﹥ - Concur Funding Account Setup
Body:
Hello,
Global Partner Funding Account Request
Bank statement, government ID, and all other necessary documents have been uploaded.
Company details on file.

You can use the Funding Account List page in the system to track the status of your accounts. The accounts will show Accepted in the Status column, once they have been confirmed by Worldline.

Status of accounts on the Funding Account List page.

Now that a funding account has been added, you must start thinking about updating your vendor information to include banking details.

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