The payment delivery method refers to how your vendor receives payment. Accounts Payable offers multiple delivery methods to choose from (e.g., ACH bank transfer, paper check, etc.)
This article will guide you through the process of adding and updating payment delivery methods for your vendors in Accounts Payable, ensuring your payments reach them efficiently.
It contains the following sections:
- Adding a payment delivery method for a new vendor
- Updating or adding a payment delivery method for existing vendors
Adding a payment delivery method for a new vendor
When you're setting up a new vendor in Accounts Payable, you'll have the opportunity to define their preferred payment delivery method right from the start.
Here’s how:
1 - Start adding a vendor.
2 - When prompted, select one of the following payment delivery options:
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Bank transfer (ACH):
- Delivery time: Next business day when paying with a Capital One Business card; 3 business days when paying with your bank account.
- Information needed: Your vendor's routing number and bank account details.
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Paper check:
- Delivery time: Takes approximately 5-7 business days to arrive via mail.
- Information needed: Your vendor's delivery address.
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Virtual card:
- Availability: Only available if paying via Capital One Business Card.
- Requirement: Confirm if your vendor accepts virtual cards.
- Information needed: Your vendor's email address.
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Not sure? Let the vendor choose:
- Process: We will ask your vendor via email how they prefer to get paid.
- Information Needed: Your vendor's email address and phone number.
Learn more about our delivery timelines.
3 - After submitting all the details, select Save and close or Save and add bill.
That’s it, you successfully added a payment delivery method.
Updating or adding a payment delivery method for existing vendors
For vendors already in your Accounts Payable account, you can easily add new delivery methods or modify existing ones.
Here’s how:
1 - Open the Vendors tab.
2 - Select the desired vendor from the list to open the Vendor details window.
Please note:
Alternatively, you can select the three-dot icon on the right side of the vendor's row and select View vendor from the pop-up menu.
3 - In the Delivery methods section, select Add method next to the desired delivery method (e.g., ACH transfer, Paper check).
Updating an existing payment delivery method
If you wish to update an existing payment delivery method, select the three-dot icon next to it and then select the Edit button.
4 - Provide necessary information: Depending on the delivery method you're adding or editing, fill in the required details:
- Bank transfer (ACH): Your vendor's routing number and bank account details.
- Paper check: Your vendor's delivery address.
- Virtual card: Your vendor's email address. It is only available if paying via Capital One Business Card.
- Request delivery details from the vendor: Your vendor's email address and phone number. We'll email your vendor to set their delivery method.
5 - After submitting all the details, select Save and close or Save and add bill.
That’s it. You've successfully managed the payment delivery methods for your existing vendors.