Consolidated Payables FAQs
Frequently Asked Questions
The following payment and transaction types can be delivered through Consolidated Payables:
- Check Outsourcing Payments
- ACH Credit Payments
- Purchase Virtual Card Payments
- Check Issue Information – ARP, Positive Pay, and Payee Positive Pay
- Wire (Outgoing) payments
No, Consolidated Payables is intended for AP payments.
Yes. Check Payments can be converted to Key2Purchase card payments. You may also designate that a payment is to be made by card via a payment indicator in your file. This requires you to review and upload to your ERP which vendors are registered for card.
You should submit payment files to Key’s Consolidated Payables service at least 60 minutes prior to payment file deadlines.
Debits post to your account as they would if you initiated separate payment files or entered the transactions via KeyNavigator.
Wires post almost immediately. ACH payments will post on the effective date. Checks are posted when they are presented for payment. Virtual card transactions post to your Key2Purchase account when the vendor processes the payment.