How to Pay My Suppliers by Direct Deposit
Steps to Follow
Note: The payment method “Pre-authorized debit” is used for pre-authorized debits and direct deposits. The file created is different.
1. Contact your financial institution to make sure that you can use this payment method.
2. If you have already entered your company’s and your supplier’s banking information, skip to step 12.
3. Go to the “Data” tab and the “Companies” subtab.
4. Click on the company you want to modify (the one that pays the suppliers).
5. Click on “Modify” at the top right.
6. In the third page of the dialog box, in the “Bank Account” section, enter the name of the company’s financial institution, its transit number, its institution number, its account number, its data centre number, and its organization number, and select the account in the chart. (To know the number of the data centre and the organization number, you may need to contact your financial institution).
Note: Here are the numbers of the data centre of Québec’s most popular financial institutions:
Caisses Desjardins: 81510
Banque de Montréal (BMO): 00110
Royal Bank (RBC): 00210
National Bank (NBC): 00310
Laurentian Bank (LBC): 03910
7. Click on “Finish.”
8. Go to the “Data” tab and the “Suppliers” subtab.
9. Click on the supplier you want to modify (the one that will receive the payment).
10. Click on “Modify” at the top right.
11. In the third page of the dialog box, in the “Bank Account” section, enter the name of the supplier’s financial institution, their transit number, their institution number, and their account number, and click on “Finish.”
12. To create an expense, click on “Add an expense” at the top right of the supplier’s file.
13. Select the entity assigned to the expense and the account, describe the expense, and enter the amount.
14. Click on “Finish,” and go to the “Accounting” tab and the “Disbursements” subtab.
15. Find the expense, and enter the date of payment, the payment method (Pre-authorized debit), and the amount.
16. Go to the “Accounting” tab and the “Direct Deposits” subtab, and click on “Add” at the top right.
17. Select the expense that is paid by direct deposit.
18. Select the bank account used to pay the expense, and click on “Finish.”
19. Click on the direct deposit file at the top right to download it. This file is not meant to be opened.
20. Contact your financial institution to know where to upload this file.
You have now paid suppliers by direct deposit.
Transcription of the Subtitles