October 2024 release
Major announcements
- US payers (not registered in California) with Enhanced Virtual accounts can receive incoming USD payments from their vendors, customers, and others with whom they share their account details.
- Please contact your Tipalti rep to set up incoming payments on your account.
If you have a USD Enhanced Virtual Account, you can now share your dedicated account ID and routing code with 3rd parties to receive incoming payments. This capability is available to both single-entityAn entity can be a subsidiary, division, business unit, brand, etc. of your organization. Entities can have similar or different AP processes and workflows. and multi-entity payers.
This is a huge benefit as you can now integrate your inflows in the same account as your outflows—having both incoming and AP and mass pay payments in a single account.
This will also save you time and money, as you’ll spend less to no time on funding activities, and it reduces deposit costs.
In addition, payments are automatically screened against OFACThe Office of Foreign Assets Control (OFAC) enforces sanctions and protects against narcotics traffickers, terrorists, etc. sanction lists to confirm that the 3rd parties are not on its sanctions list to ensure compliance.
General announcements
Last month, we released an enhancement that enabled you to use File import to upload a CSV with your payees ACHAutomated Clearing House payment method details into Tipalti. Now, there’s another way to upload those details using REST APIs.
REST APIs should be used to update payees’ payment methods with ACH details when that info is collected via alternative touchpoints or if the iFrame leverages a unique design that doesn’t incorporate the Payment details tab. Payers can collect the details from the payee and update the payee’s payment details for the payees using REST APIs without using the iFrame.
This applies to US payers who have payees based in the US.
Payees would only use the iFrame to agree to Tipalti’s terms and conditions and if they need to complete tax forms.
When you open an expense from Home, you can now view any custom fields and a description for mileage expenses. This gives managers everything they need to approve an expense from Home.
Enjoy a more convenient and holistic experience so you can easily get everything done in one place.
Additional updates
We now save column filter selections when you search or apply filters on the Payees screen so that they remain there when you leave and return to the screen. The filter selections also save if you have payee lists enabled on your account. This enhancement doesn't apply to customers who subscribe to Procurement or Payee review.
When syncing with Business Central, Tipalti syncs Business Central’s Description 2 field as a custom field.
Business Central uses a Description 2 field in your purchase invoice lines and purchase credit memos. Description 2 for purchase invoice lines are mapped in Tipalti’s bill lines; for purchase credit memo lines, they’re mapped in Tipalti’s vendor credit lines as custom fields. The fields give you more information and context about the purchased item or service.