In order to pay vendors with Settle, you'll need their ACH, wire, and/or paper check remittance details. When this information is included on an invoice, Settle will automatically populate these details on the invoice page after the invoice has been uploaded.
If you anticipate that you'll be making ongoing or recurring payments to a particular vendor, you can also set up a vendor profile in Settle for easy access. Alternatively, you can manually add vendor details to an individual invoice.
To create a vendor profile from the Vendors menu
To add a vendor in Settle, follow these steps:
Navigate to the Vendors Menu
Select Vendors from the menu bar on the left side of your Settle home page.
You'll see a list of all vendors you've previously paid through Settle.
Add a New Vendor
Click + Add Vendor in the top right corner.
Enter Vendor Details
Fill in the required information to ensure smooth payment processing:Vendor Name
Vendor Email (where the Settle invitation email will be sent)
Business Type
EIN/TIN
Vendor Country & Address
If the vendor has multiple addresses, enter the one used for paper check remittance.
Operational Details
If the vendor operates at a different address than their business address, add the operational address as well.
Payment Terms
Specify the payment terms trigger, payment terms, and factoring email if applicable.
Banking Information
Enter the vendor account number and ACH routing number (for default payments).
If applicable, add the wire routing number for wire transfers.
Save the Vendor Profile
Click Add Vendor to save the profile.
To add vendor details within an invoice:
Click into an invoice from the Unscheduled menu.
Under Invoice summary, click into the Vendor text box.
Select a saved vendor from the dropdown menu or Add new vendor.
Enter in all the details needed to remit payment:
Vendor Name
Vendor Email (where the Settle invitation email will be sent)
Business Type
EIN/TIN
Vendor Country & Address
If the vendor has multiple addresses, enter the one used for paper check remittance.
Operational Details
If the vendor operates at a different address than their business address, add the operational address as well.
Payment Terms
Specify the payment terms trigger, payment terms, and factoring email if applicable.
Banking Information
Enter the vendor account number and ACH routing number (for default payments).
If applicable, add the wire routing number for wire transfers.
Click Add Vendor to save.
Vendors table - columns
The columns reflect the information below. Note that if you do not see a column for one of the columns below, click the columns icon in the top-right of the page to toggle each column on or off.
Vendor: The business or individual that supplies goods or services to your company.
Last Bill: The date of the most recent bill received from this vendor.
Bills: A count of all invoices received from this vendor.
Payments: A count of payments made to this vendor.
Type: The vendor's classification (e.g., LLC, S Corp, etc).
Credit available: The amount of Vendor Credit (if any) that your company has with the Vendor.
1099: Indicates whether the vendor is subject to 1099 reporting requirements (for US-based businesses).
W-9/W-8: Indicates whether the vendor has a W-9 (for US-based vendors) or W-8 (for foreign vendors) form on file, for tax purposes.
Email: An indicator for whether or not the email address for the vendor has been verified and the email address used for verification.