Paper check payments

Key CashFlow gives you the option to pay your vendors with paper checks. Here are some important details about paper check payments.

Jump to:

• Check style and envelope issued to the vendor
• Payment for a single bill
• Combine payments
• Deposit checks
• Check expiration
• Copy of cashed check
• Things to know

Check style and envelope issued to the vendor

Key CashFlow issues two styles of checks. Your vendor may receive either or both styles, over time. Don’t worry, it’s all cosmetic! Regardless of which design we send, they work exactly the same. See the examples, below:

Blue check

Orange check

Check stub for multiple invoice payments

Payment memo customization

Customize the payment memo/remittance info on the check by adding to or overwriting the pre-populated invoice number and vendor account number when you schedule payment.

• If paying multiple invoices to the same vendor with one payment, instead of invoice number, the memo field will be populated with Multiple Invoices.
• Once saved, you can’t edit the memo field. If you need to edit the memo field, cancel the payment and reschedule it.
• The memo field has a limit of 70 characters.
• The payment memo field doesn't sync. You’ll need to manually update it in your accounting software.

Envelope

Key CashFlow sends both styles of checks in the same style envelope. Sample shown below:

Tip: add a blank page for page one of the document associated if you don't want an image printed on the stub.

Payment for a single bill

You can create bills with or without attached documents. If you choose to upload or attach a document to a bill, we’ll print page 1 of that attachment and send it along with the paper check payment.

Tip: add a blank page for Page one of the document associated if you don't want an image printed on the stub.

Combine payments

When you pay more than one bill with the same process date to the same vendor, you can choose to combine the bill payments in one check or to keep them as separate checks. A combined check is usually more convenient, but there are times when it may be necessary to send separate checks (e.g., for tax payments) for the simplicity of reconciling specific bills with a specific check number.

Combined payments The way combined payments work, is the vendor receives one check with a stub that lists the individual bill payment (up to 35 allowed) as shown below. The vendor also receives one email confirmation. There's a fee for one check — see our current pricing page for details. - If you've applied multiple vendor credits, up to three will be listed on the check stub. If you've applied three or more vendor credits, there will be a note that additional credits are applied after the listed three.

• If you've applied multiple vendor credits, up to three will show on the check stub. If you've applied more than three vendor credits, there will be a note that additional credits are applied after the listed three.
  

Separate payments:

Separate payments work differently. For these, the vendor receives separate checks for each payment, and a check stub for each. . Each check stub shows the first page of the related bill (see above). The vendor receives one email confirmation for each bill payment. There's a separate fee for each check — see our current pricing page for details.

Manage how you want to pay your vendors, under Payment Preferences. There, simply select whether you’d like to combine or separate checks for all vendors, have an individual vendor (vendor page), or an individual payment (when you pay bills).

Deposit checks

Your vendor can deposit checks issued by Key CashFlow at their bank, and deposit it using their mobile deposit feature, just like any other check. However, they can’t deposit a check that’s issued by Key CashFlow, using an electronic check conversion service because their bank will reject the transaction. In this case, the check is still valid; the vendor will just have to deposit it normally.

Check expiration

Checks are issued with the words Void after 90 days printed on them. On the 91st day after the date of issue, the check expires.

• When the check expires, we'll automatically remit the funds to the originating bank account
• We'll notify all users with view payments permissions via email notification, when the check expires and we void it.

Copy of cashed check

After your vendor cashes their check, you'll receive an image of the front and back of the check.

To view it:

1. Select Payments out in the navigation menu
2. Select the confirmation number of the payment

You'll see the check image in the check section of the screen that shows your payment summary.

Things to know

• From the Reports tab, create a Bill Payments report that lists all bill payments, including check payments and check numbers. You can perform other reviews of Key CashFlow payments by using the Payments In page that lists a complete payment history.

• You can also review Key CashFlow payments from the Payments Out page, which shows a complete list of your payments history

• The maximum amount of a check payment cannot be greater than $99,999,999.99.