Electronic Payables definition
Electronic Payables. A form of electronic payment, utilizing the card infrastructure, managed centrally within an organization, typically by accounts payable. Also known as electronic accounts payable (EAP), automated payables, e-payables, Virtual Payment Cards, push payments, straight through payments 9STP), buyer-initiated payments (BIP), supplier/vendor card, single-use accounts and electronic invoice presentment and payment (EIPP). Each provider has a proprietary name for its solution; functionality and processes vary for each. Eligible Purchaser: A Purchasing Entity authorized pursuant to the execution of a Participating Addendum. Emergency Card: A type of Commercial Card that is always open, active and ready for use. Usually equipped with high or no credit limits and are used in emergency response situations. Entity Program Administrator(s): A common role responsible for various administrative tasks (i.e., ongoing operations) in a typical Commercial Card program, including card issuance, account maintenance, card cancellation and reporting. File Turn: Number of days from the date a transaction is posted to an account to the date payment is received. Fraud: Unauthorized use of a card, resulting in an acquisition whereby the Purchasing Entity does not benefit. Identification Information: Legal names, physical street addresses, taxpayer identification or business numbers, dates of birth, or other information or documentation required by U.S. Bank to confirm the identity of any entity or person. Implementation: Process of putting all card program functions and activities into place. Individual Liability: Cardholder is liable for all card transactions and fees. The Participating State or Purchasing Entity agrees to reimburse the Cardholder or to pay U.S. Bank directly for legitimate business expenses charged to the account. Individually Billed Accounts (IBA): Card account is billed directly to the cardholder. IBA accounts are typically paid directly by the Cardholder.
Electronic Payables. A form of electronic payment, utilizing the card infrastructure, managed centrally within an organization, typically by accounts payable. Also known as electronic accounts payable (EAP), automated payables, e-payables, Virtual Payment Cards, push payments, straight through payments 9STP), buyer-initiated payments (BIP), supplier/vendor card, single-use accounts and
Electronic Payables. A form of electronic payment, utilizing the card infrastructure, managed centrally within an organization, typically by accounts payable. Also known as electronic accounts payable (EAP), automated payables, e-payables, Virtual Payment Cards, push payments, straight through payments 9STP), buyer-initiated payments (BIP), supplier/vendor card, single-use accounts and electronic invoice presentment and payment (EIPP). Each provider has a proprietary name for its solution; functionality and processes vary for each. Eligible Purchaser: A Purchasing Entity authorized pursuant to the execution of a Participating Addendum. Emergency Card: A type of Commercial Card that is always open, active and ready for use. Usually equipped with high or no credit limits and are used in emergency response situations. Entity Program Administrator(s): A common role responsible for various administrative tasks (i.e., ongoing operations) in a typical Commercial Card program, including card issuance, account maintenance, card cancellation and reporting. File Turn: Speed of payment by a Purchasing Entity the Contractor; also considered and average collection period. Sometimes referred to as days receivables outstanding or client-held days. Fleet Card: Specialized Commercial Card used to capture fleet-related expenses and vehicle data (e.g., fuel, vehicle maintenance, repair, and service). Foreign Transaction Fee: A charge applied to purchase made in foreign countries (outside the United States). Purchases made online from your home country where the vendor is foreign and processes the transaction in its local currency. Fraud: Unauthorized use of a card, resulting in an acquisition whereby the Purchasing Entity does not benefit. Implementation: Process of putting all card program functions and activities into place. Individual Liability: Cardholder is liable for all card transactions and fees. Individually Billed Accounts (IBA): Card account is billed directly to the cardholder. IBA accounts are typically paid directly by the Cardholder.
Examples of Electronic Payables in a sentence
The Agreement for Purchase Card Services will require Purchase Cards, One Cards/Integrated Cards, Travel Cards, Declining Balance Cards/Managed Spend Cards, Emergency Cards, Virtual Cards/Single Use Cards, and Electronic Payables.