How To Pay Your Vendor Without Issuing A Cheque

Think of the time you last received a cheque. Sure it’s exciting to receive money, but the process involved with actually obtaining the money- well that’s a whole other story. First, you need to wait to receive the cheque in the mail. Then, once you receive it you need to cash it. Yes, some of you may feel comfortable with taking pictures of that cheque and uploading them to your mobile banking, or you have to actually make your way to the bank and cash the cheque. Well, to your vendors- who are probably also business owners with limited time also hate this process! We promise, there is a better way! It’s called PaymentEvolution’s Business Payments.

What you will need:

  1. A PaymentEvolution account with ePay
  2. Accounting integration with either Kashoo, Xero or QuickBooks Online
  3. A void cheque or banking information from your vendors (which they will gladly give you…trust us!)

Adding a vendor

This will only need to be done once per vendor.

  1. Simply click the + vendor button on the Business Payments page on PaymentEvolution
  2. Add the vendor’s information including email and banking details.

The Payment Process

  1. Create a bill in your accounting software.
  2. Pull up the bill in your PaymentEvolution account
  3. Select the vendor you wish to pay
  4. Select pay.

It’s that easy! The vendor will then receive an email letting them know that payment has been sent and what day they can expect that money in their account.

Ready for the best part? It automatically reconciles with your accounting software. That means NO double payments and instead, the bill will be marked as paid.

Watch how easy it is to make a payment here:

Want to learn more? Visit www.paymentevolution.com/businesspayments

[e] support@paymentevolution.com [p] 647 776 7600

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