For new vendor setups and customer refunds, only 1 form of documentation from the list below is required as backup.
For banking modifications, including bank name, account number, sort code, clabe, transit number or payee, 2 forms of documentation from the list below are required plus a phone call to the vendor verifying the details with someone other than the person who sent the original request. For example, if someone from the vendors accounts receivable department emailed a letter stating a change of bank details, an RDA Associate will need to speak to someone else at the company, ie a controller, treasurer or accounting manager, to confirm the details of the change.
(Also note a remittance email is now required to process electronic payments in D365 and will be required for all setups and updates)
The type of documentation that are acceptable are:
- An invoice (with banking information stated on it)
- A voided/cancelled cheque
- Monthly bank statement
- A signed statement from the company on their letterhead
- A signed statement from the vendors bank on bank letterhead
- A screenshot of bank details from the vendors website which includes the url for the site
Documentation must not be an editable format ie Word, Excel. PDF preferred.