Request Finexio Supplier Payment Disbursement Prior to Payment File Submission

  • Updated
Use this process when a supplier must be created in Finexio before appearing on a payment file. 
 

Preferred Process

This workflow ensures all entire supplier enrollment process is completed, prior to issuing payments to suppliers:
  1. The customer includes the new supplier in their payment file.
  2. Finexio creates the supplier automatically and the initial payment is issued via printed check.
  3. If the customer would like the supplier moved to an electronic method. They can provide the supplier's contact information to the Unimarket Support team
  4. The Unimarket Support team will reach out to Finexio, to engage with the supplier for enrollment. 
    • For businesses, Finexio will first explore Virtual card and then ACH payments. 
    • For individuals, Finexio will enroll the supplier into ACH payments.
 

Alternative Process

 
This workflow skips the Finexio's standard ACH enrollment process. While allowing supplier payments to begin via printed check.
 
  1. Customer requests that Finexio create suppliers in advance (i.e., prior to supplier appearing on payment file). By, submitting the data collection template. 
  2. Finexio engages the supplier for ACH enrollment. However, the supplier will remain receiving payments via paper check. Until they complete the required enrollment process.
    • There are also instances where a supplier declines Finexio's ACH enrollment process and the customer enters ACH information directly into the Finexio portal. In those situations, Finexio is relying on the customer to have completed the appropriate due diligence, on the banking information they are providing.
 

Prerequisites

Before starting:
  • The supplier does not yet exist in Finexio.
  • The customer has access to the Supplier Data Collection Template.
  • Supplier information required by the template is available.
  • The supplier is intended to receive ACH payments after enrollment and validation are completed.

 

Alternative Process Steps

1. Complete the Supplier Data Collection Template

 

2. Submit the Template to Unimarket

  • Send the completed Supplier Data Collection Template to Unimarket.
 

3. Forward the Request to Finexio

  • Unimarket forwards the completed template to Finexio, for processing.

 

4. Create the Supplier as a Printed Check Supplier

  • Finexio creates the supplier profile with the initial payment method set to printed check.
 

5. Contact the Supplier for ACH Enrollment

  • When supplier contact information is available, Finexio contacts the supplier directly and provides ACH enrollment instructions.
 

6. Complete ACH Enrollment and Validation

  • The supplier completes the online ACH enrollment process and any required DocuSign validation steps.
  • Finexio validates the supplier's banking information using the standard supplier verification process.

 

7. Transition the Supplier to ACH Payments

  • After successful enrollment and validation, Finexio updates the supplier's payment method from printed check to ACH.
  • Result: Future payments can be issued through ACH.

 

Results

Confirm the process was successful by verifying that:
  • The supplier profile exists in Finexio.
  • The supplier was initially created as a printed check supplier.
  • ACH enrollment has been completed and validated.
  • The supplier's payment method has been updated to ACH.