Are you utilizing ACH payments in Dynamics NAV?


Every year in roughly the late October/November time frame, Microsoft releases a new Microsoft Dynamics NAV version. Each year partners and customers ooh and ahh over the new changes which could range from technical changes to additional functionality.

One thing not to lose sight of is all the changes that have been made to the NAV product since it changed to a purely three-tier architecture with the release of version NAV 2013. 

Many of our existing customers find value in sending electronic payments to vendors and electronic refunds to customers using the electronic payments function.   Electronic payments are exported in one of the standard Automated Clearing House (ACH) file formats and transmitted to the bank for processing. Electronic payment processing is considered to be more secure and less costly than printing and handling paper checks and has already been widely adopted throughout Europe.

Recently, a customer was looking to replace check printing with ACH processing to save on the time spent printing and processing checks as well as the material cost for the check stock, envelopes, and postage.  They wanted to be sure the vendor would still receive the remittance info so they know which invoices and credits are being applied with payments sent. Since NAV offers a remittance advice report (report 10083) along with electronic payments functionality, they might only need some customization time if they wanted it sent via email, automatically. In NAV 2017, an Approval Workflow for Payment Journals was added which would allow an approval process out of the box!

How can you get started with this functionality today? Check out MSDN and their How To Series, click here

To set up an electronic payment for a vendor bank account, follow these instructions:

  1. In the Search box, enter Vendors, and then choose the related link in Payables.
  2. Select the vendor for which you want to set up electronic payments.
  3. On the Navigate tab, in the Vendor group, choose Bank Accounts.
  4. Select the vendor bank account.
  5. On the Home tab, in the Manage group, choose Edit. The Vendor Bank Account Card opens.
  6. On the General FastTab, select the Use for Electronic Payments check box.
  7. Choose the OK button.

I remember 15 years ago when my Swiss wife asked me what I was doing one day at the grocery store. I said, “I am writing a check, why?” She said, “In Switzerland, we haven’t had checks for years, everything is done by ACH.” Just because an idea/feature is older, doesn’t mean it cannot deliver business value today.

How do you feel about ACH payments? Comment below. 

Leave a Comment:

* Required Field

Based on this article, you may be interested in:

8-07-2017Guest Blogger: Judy Weston

7 Tips for transitioning to a new EDI solution

Deciding to implement an electronic document interchange (EDI) solution requires investment. Whether you’re replacing an existing EDI system or evaluating EDI for the first time, here are a few things you should consider...

Read More
1-31-2017Carrie Saunders

How to Show Your Rental Customers Some Love with Loyalty Rewards

Statistics on loyalty programs show that the typical household enrolls in approximately 18 different rewards programs. Airlines, hotels, restaurants, pharmacies and even luxury spas use the power of rewards for repeat business. Adding a loyalty…

Read More
8-21-2017Teresa Peitsmeyer

Costing Method Best Practices for Dynamics NAV

There are a variety of costing methods to choose from in Microsoft Dynamics NAV. Depending on the chosen procedure, a costing practice will determine if a budgeted or actual value is used in the cost calculation and it will impact how the cost flow…

Read More
10-20-2017Greg Williams

Western Computer and Microsoft: Your Partners in Sustainability

Today, businesses are becoming more aware than ever of their impact on the world around them. We’re proud to support Microsoft in their initiatives to enable a sustainable future and we are thrilled that many of our clients are also taking…

Read More