Hi All - We are getting ready to start paying vendors via AP ACH and we're planning to prenote the accounts. As we understand it, prenotes only confirm the bank routing and account numbers are valid. Prenotes do not confirm the ownership of the account matches our vendor. We've talked about how to prevent that first payment going to the wrong account at the bank. We've talked about making a one cent payment to confirm the account, then pay the balance once the vendor confirmed they got the penny. But the effort to manage this seems significant. If you use AP ACH, do you prenote your AP bank accounts? Do you do anything beyond that to confirm the correctness of the account information? Any suggestions or advice?
Thanks,
Derek
