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.

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Check styles 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

BDC-Payables - Check-BLUE-JP

Orange check

BDC-Payables - Check-Orange 1-JP

Check stub for multiple invoice payments

Check envelope

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:

Check envelope - Altvs

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


Document attachments

You can create a bill that has no 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.


Payment notification

When we print a check on the scheduled process date, we send an email to the vendor to let them know the payment is on the way. The email notification will include:

  • Estimated payment delivery date
  • Invoice number linked to the payment (max 20 characters)
  • Invoice due date
  • Invoice amount
  • Vendor credits applied
  • Amount paid
  • Payment total

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.

Cashed checks

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.


Returned checks

If USPS can't deliver a check sent by Key CashFlow, they mail it back to our offices and we destroy it. We'll notify you via email, of this issue. You'll need to void the payment before we'll deposit funds back to your account.

If you still need to make the payment, you'll need to correct the issue that triggered the returned payment, and schedule a new payment.


Why was a check returned?

There can be many reasons checks are returned. The most common reasons are:

  • Invalid mailing address
  • Incorrect address
  • Insufficient information on check or invoice
  • The vendor doesn't know how to apply the payment with the given information
  • Duplicate payment
  • Payment was already received from the vendor regarding the payment account

We're unable to obtain detailed information from USPS on the reason for the returned check as they don't keep those records. We suggest contacting the vendor to be sure you have their current address including any suite numbers or additional details, make sure they expect the payment so they don't return to sender, etc. then issue a new payment.


Resolve a returned check

If you receive notification that a check was returned to us, you will need to void and remit the funds back to your account. If you still need to make that payment, after correcting the issue that caused the payment to be returned, you will need to schedule a new payment.

To void and remit funds:

  1. Locate the returned check payment from Payment History or the vendor's record
  2. Select Void Payment
  3. Enter a reason for the void, if applicable
  4. Select Void Payment

You can issue a new payment for the bill or delete it if it no longer needs to be paid.

Note: If no action is taken on a returned check after 90 days from the returned date, the payment will automatically void, the funds will be remitted to the bank account (if it is still active), and the original Network bill(s) will return to unpaid or partially paid as the case may be. You can then pay the bill again, or delete it if it is completely unpaid, or edit as desired.


*Check payment Delivery Date is an estimate since delivery is dependent on the United States Post Office and we can't guarantee delivery time.