Set up Vendor Payments powered by MineralTree FAQs

A primary contact is the main individual who will be responsible for managing Vendor Payments powered by MineralTree. This is often the same individual who manages administration for Sage Intacct and is usually a leader on the Accounts Payable or Finance team.

A beneficial owner is any individual or entities with 25% or more ownership stake in the applicant company or any of the applicant company's entities that will use Vendor Payments.

MineralTree does not pull a credit report for any individuals as the applicant company or any of its entities.

Your credit limit is determined by the documentation you provide during onboarding, such as your payment application, financials, tax returns, and bank statements. MineralTree's payment processing partner completes the Know Your Customer (KYC) procedures, and their underwriter assigns a credit limit based on their analysis.

MineralTree assigns you a dedicated implementation manager to support you through your onboarding process. You can message them directly in your onboarding portal. As part of onboarding support, MineralTree will review documentation, ensure verifications are complete, and walk you through executing your first payment run.

During onboarding, you can also access digital resources in the Help Center or contact your Sage account manager or Sage Support for additional help.

Implementation can be completed in as fast as 2 weeks but generally takes about 4 weeks. The time to complete implementation can vary based on how you prioritize onboarding tasks, how quickly requested documentation is provided, and the level of complexity in your company structure.

We can do a phased rollout if your business needs require it. In this scenario, you can provide a single bank account to begin, and will then need to work with your Sage account manager to set up additional bank accounts in the future.

There are no IT requirements for Vendor Payments because the service is embedded in your Sage Intacct company instance.

Your Finance team will assign someone to complete MineralTree's 3 steps in their onboarding workflow and join the final payment training session.

1. When you set up a bank account that was set up at the entity level, MineralTree verifies the company information for that entity. This allows them to set up the entity as an organization so that you do not have to submit a separate application per entity.

You can set up the company information that appears on checks from the Check printing tab of the bank account that you use to pay with checks.

1. Go to Cash Management > All or Setup > Accounts > Checking.

2. Find the account used for payments.

3. Select Edit at the end of the row.

4. On the Check printing tab under Company address select Use a different address.

5. Enter the company information to use on checks.

6. Select Save.

1. Go to Cash Management > All or Setup > Accounts > Checking.

2. Select Edit next to the account used for payments.

3. On the Check printing tab under Company address select Use a different address.

4. Enter the company information to use on checks.

5. Select Save.

Yes, MineralTree contacts your vendors.

After you sign up with MineralTree, you'll work with a Payment Optimization Manager as part of your onboarding process. After you've met with the Payment Optimization team, you can use a version of the sample letter provided by MineralTree to send a pre-enrollment notification to your vendors.

After you've communicated with your vendors, MineralTree's Payment Optimization team will follow up with your vendors in the following ways:

• Email: A few days after you send the pre-enrollment email to your vendors, MineralTree will send their enrollment email to the vendors that you've enabled in Intacct.

• Phone: If MineralTree receives no response to their enrollment email, or if an email address is not available, then MineralTree will call the vendor no more than three times to discuss available payment methods.

You cannot change or customize printed checks that MineralTree sends to vendors, including the memo field and check stub information.

If you need help setting up or subscribing to Vendor Payments powered by MineralTree, ask your Sage Account Manager or your designated support user resource to contact Intacct customer support for assistance..