How to Send a Payment by ACH to a Vendor

Once the vendor is set up for ACH payments, sending a payment is as easy as posting a check in the system. 

More information on the quick process to set up a vendor can be found here:  How to Set Up a Vendor to Receive ACH Payments


How to Send a Payment by ACH to a Vendor 

Sending a payment by ACH to your vendor is easy. Below you'll find those instructions as well as frequently asked questions and answer. 

In your Rentec Direct account:

  1. Click Properties
  2. Right-click the Property and choose Post Expense
  3. Select ACH from the Payment Type drop-down options
  4. Fill in the remainder payment details as you would normally 

    Note: Be sure to include the vendor's invoice number in the Ref # section, and enter a Memo if applicable. 
  5. Click the Post Expense button

Sending a payment to vendor via ach

The vendor will be sent an email notifying them of the incoming payment.  Within that email it will include who the payment is from, the amount, the reference number, and the memo.  This will help them identify the payment and post it correctly to the applicable invoice or account. 

Vendor email receipt of payment

Tips: You can also find options to post an expense throughout the software. For example, an Expense option is available at the top of every Property Ledger and at the top of and in the menu for every Banking Ledger you’ll find the Batch Transaction Tool where you can make multiple Vendor ACH Payments at once and/or split a payment across multiple properties using the Split Transaction option.  

More information can be found here:  Batch Income and Expense Transaction Tool


Frequently Asked Questions

How much does it cost to process an ACH payment to a vendor?

Outgoing ACH transactions such as a vendor payment costs .50 cents per transaction. With current stamp prices, you’ll be saving money on each payment made.

How long does it take to process a payment to the vendor?

Depending on the ACH processing time at the receiving financial institution (the vendor's bank), vendor ACH payments will take approximately the same amount of time as do your tenant online rent payments and outgoing ACH owner contributions. In most cases, the payment arrives in your vendor's bank account within 2 business days. 

How will the vendor know if you’ve sent the payment? 

The vendor will receive an email when you submit the payment(s) to be processed (see picture above) with all the details of the transaction such as who the payment is from, the amount, the reference number, and the memo. This will help them identify the payment and post it correctly to the applicable invoice or account for their recordkeeping.. 

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