How to Send a Payment by ACH to a Vendor
Easily pay vendors for single or multiple expenses.
Pay multiple transactions using the Batch Income and Expense Transaction Tool
How to Send a Payment by ACH to a Vendor
In your Rentec Direct account:
- Click on Properties
- Right-click the Property and choose Post Expense
- Select ACH from the Payment Type drop-down options
-
Fill in the remaining payment details
Tip: Include the vendor's invoice number in the Ref # section, and enter a Memo if applicable
- Click on Attach Files to add supporting documentation (PM accounts will
- Click on Post Expense
Sample email received by a vendor:
Frequently Asked Questions
Q) How much does it cost to process an ACH payment to a vendor?
Outgoing ACH transactions, such as vendor payments, cost .50 cents per transaction.
Q) How long does it take to process a payment to the vendor?
The payment usually arrives in your vendor's bank account within 2 business days, and processing times may vary depending on your vendor's bank.
Q) How will the vendor know if you’ve sent the payment?
Rentec Direct software automatically emails vendors with details of the transaction when a payment is made via ach. This will help them identify the payment and post it to the correct invoice or account for their records. (The vendor will receive an email from noreply@propertymanage.biz)
Q) How can I set a vendor up to be paid via ach?
Vendors can easily be set up to receive ach payments in Rentec Direct. Click here for a step-by-step guide: How to Set Up a Vendor to Receive ACH Payments