Community Exchange

We are in the process of implementing virtual card payments to vendors.  Our ERP is Ellucian Banner (old version).  We are having difficulty with the ability to mark the vendor for virtual card payment.  We only have the option for check or ACH.  Has anyone run into this issue and how did you work around this to successfully implement virtual card payments?  Thank you!

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Cindy Butler
Director Of Financial Operations
University of Indianapolis
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When we were scoping implementing this through our Emburse platform (we are also a Banner school), we were going to use the vendor type field on FTMVEND to indicate if it was a virtual vendor. The project was put on hold but now Emburse has a new partner for virtual payments and we may start it back up.

Which third-party are you using?

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Toni Kreke
Controller
Rollins College
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We are a Banner school who implemented virtual card payments. We added a vendor type to tag vendors who opt-in to virtual card payments. We established a separate bank code to use for virtual card payments, so that code is used on invoices for those who opted into virtual card payments. We use an eProcurement system so integration logic was updated to select the appropriate bank code depending on the vendor type, but the bank code could also be changed on the invoice itself. We run payments for the separate bank code as ACH payments, but the vendors are set up with dummy ACH number. The job to produce the bank file also does a journal entry for the cash movement (some schools just enter a jv for this, but we automated it as part of the process). Our virtual card provider then deducts the virtual card statement amount at the end of the month from our bank.

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Bridget Piotrowski
ERP Solutions Specialist
Cuyahoga Community College
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We use a different bank number for our virtual card payments. We also give each virtual card vendor a default address that, on the first line, indicates that it is a virtual card user. That is an extra reminder to choose the correct bank.

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Emily Hermon
Manager of Accounts Payable and Payroll
Kent State University
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