Sage Intacct Tips: Vendor Payment Notifications
Your vendors want to know when they will be paid, so they can manage their cash flow effectively. Sage Intacct, the industry-leading cloud financial solution, offers automatic vendor payment notifications that help your vendors—and help you build trust and reduce the risk of misunderstandings and miscommunications.
About vendor payment notifications
With Sage Intacct, you can automatically email payment notifications to your vendors as soon as their bills are processed for payment. Payment notifications are especially valuable for vendors who are paid through standard ACH, but you can send notifications to any vendor, regardless of how they’re paid.
Information included in payment notifications
By default, your vendor payment notification emails will include a PDF of the payment. If you prefer, you can configure accounts payable to leave out the PDF and include payment details inside the email body instead.
Payment notifications are sent to the email address listed on the vendor record, with information including:
- Bill number of all included bills
- Bill creation date
- Reference number
- Total amount billed
- Amount outstanding
- Discounts applied
- Credits and advances applied
- Payment amount
Why vendor payment notifications matter
Sending automated vendor payment notifications is an easy way to improve your vendor relationships. Additional benefits include:
- Reduce unnecessary communications: Automated notifications reduce the need for time-consuming communications between your business and vendors regarding payment status.
- Dispute mitigation: Payment notifications serve as a clear record of payment activity, helping businesses resolve any disputes or discrepancies quickly and amicably.
- Efficiency: Your AP team can spend less time answering calls and exchanging emails with vendors, and more time on strategic tasks like analyzing cash flow trends.
- Scalability: As your business grows and you start working with more vendors, automated payment notifications can help you scale seamlessly, without concern about errors and oversights creeping into your payment process.
- Competitive advantage: Providing a smooth, transparent payment experience can give your business a competitive advantage to help you attract new partners and vendors.
Get more out of Sage Intacct
Kernutt Stokes has been a leading accounting and business consulting firm for more than 75 years. Our Sage-certified experts are ready to assist you with software implementation, training, and support services to help your business or nonprofit manage accounts payable and other processes, so you can grow with confidence. Contact us for a free consultation.