How to add your bank details for using in invoicing
Why add bank details and what are they used for?
Bank details (VAT/TAX identifiers and bank account types such as SWIFT, IBAN, BBAN,CHAPS, BIC, SEPA. EBA, and BACS), are used when invoicing some buyers. Buyers use them in combination with your TNID to identify which finance group to associate your invoice to, to automate their workflow, speeding up how quickly you will be paid.
Do all buyers require bank details when invoicing?
No. Only some buyers will require bank details, for others TNID is sufficient. If a buyer requires bank details, you will see the below module where you'll select which bank details to use.
Choose the Account Type from the drop down menu.
Choose the Account Number from your list of saved account numbers or enter a new one.
Enter your VAT/TAX identifier or choose from the drop down list.
If you wish to remove any of the account numbers or VAT/TAX details from your lists, click the "x" to the right of the entry. When you delete bank details they'll no longer be available for selection for new invoices, however they will still remain visible in any historic invoices sent.
Are bank details the same as payment details?
No. Bank details (VAT and IBAN) are used for identification. Payment details should be specified in your invoice document that you'll upload.