Managing Preferred Payment Methods

Abstract

In Charted Payment Automation, managing preferred payment methods ensures that vendor payments are processed accurately and according to vendor and company preferences. By designating a preferred method for a specific payee, administrators can control payment method.

Controlled preferred payment method is especially useful for businesses handling multiple vendors with varied payment needs.

Reviewing and Changing a Preferred Payment Method

Payment Automation will use the preferred method when releasing payments. If you need to change the payment method prior to release, you can do so by changing the preferred payment method on the payee prior to release.

Follow these steps to manage Preferred Payment Methods:

1. Begin by hovering over the Charted menu, then AP Automation, and clicking the Home tab:
2. Next, click the Payees option on the left navgiation menu to open the Payees list:

   
3. To start the review process, click the specific vendor with multiple payment methods and locate the Payment Methods section. The preferred payment method will be indicated with a green Preferred tag next to the payment method name.

1. To switch the preferred Payment Method, select the three-dot action menu ( . . . ) and click Set Preferred

   

This concludes the process for managing preferred payment methods, the default payment method used at time of release.