How to Set Up Vendor Bank Accounts for Payments in Business Central

Open the Vendor Card, navigate to Bank Accounts, add IBAN and SWIFT details, set a preferred bank account, and configure the payment method for accurate and secure vendor payments.

Step-by-step guide

1

Open Vendor Card

Search for 'Vendors' in Business Central and open the card for the vendor you want to configure. The Vendor Card holds all master data including payment and banking information.

2

Go to Bank Accounts

On the Vendor Card, click 'Related' > 'Vendor' > 'Bank Accounts'. This opens the list of bank accounts on file for this vendor. Click 'New' to add one.

3

Add bank details (IBAN, SWIFT)

Enter the bank name, branch number, IBAN, and SWIFT/BIC code provided by the vendor. Double-check these values against the vendor's official banking letter to prevent payment errors or fraud.

4

Set preferred bank account

Back on the Vendor Card, set the 'Preferred Bank Account Code' field to the bank account you just created. This account is used by default when generating payment journal lines for this vendor.

5

Configure payment method

In the 'Payment Method Code' field on the Vendor Card, select the appropriate method (e.g., Bank Transfer, Check). This ensures payment journal entries use the correct export format for your bank.

The faster way with Zentriq

When the Zentriq Agent processes an invoice, it validates vendor bank details against your BC records for payment accuracy. If the bank info on an invoice doesn't match, the Agent flags it so you can investigate before approving payment.

Related Zentriq products: Zentriq Agent, Document Capture

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