photo by karl steinbrenner epayables 2012 commonwealth of virginia annual card summit department of...

Photo by Karl Steinbrenner

ePayables

2012 Commonwealth of Virginia Annual Card Summit

Department of AccountsAmy 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 2012 2

ePayables Summary

ePayables 2012 3

• 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.

ePayables

ePayables 2012 4

How does the ePayables Program work?

ePayables - Vendor Edit Table

ePayables 2012 5

ePayables Check Number

ePayables 2012 6

ePayables–How does it work?

ePayables 2012 7

• 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

ePayables 2012 8

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: $13,388.76Card Number Ending In: 0123Name on card: TESTCOMPANY INCBilling 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 ecommerce@doa.virginia.gov or call 804-692-0473.

Thank You,Department of AccountsCOMMONWEALTH OF VIRGINIA

ePayables Cost to Participate

ePayables 2012 9

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

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

ePayable Benefits

ePayables 2012 10

• Enhances cash flow• Increases efficiency• Less exception handling• Increased security• Going green• Commonwealth regains lost rebate

opportunities• No change to current invoicing

procedures

Questions

Q & A

ePayables 2012 11

ePayables Contact Information

ePayables 2012 12

ePayables Contact Information:

Department of AccountseCommerce Hotline: (804) 692-0473

Email: eCommerce@DOA.Virginia.Gov