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Fintech OneSourcesm Frequently Asked Questions (FAQ) |
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Frequently asked questions and their answers are categorized and listed below. To view a frequently asked question's answer, simply click the question and the answer will appear below it. To hide a question's answer, click the question again or click a different question.
Processing | Setup
Processing FAQ's
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What is a Max Invoice Total?
Retailers use Processing Rules in FTX to establish a Maximum Invoice Total for each vendor and indicate whether or not they want to be notified for each occurrence.
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What happens if there is not enough money in my bank account to cover the amount of my invoices for the day?
The difference between the maximum limit established in conjunction with a bank filter and the Maximum Invoice Total is:
The Maximum Limit with a bank filter is established at the retailer bank and applies to the entire EFT transaction file amount.
The Maximum Invoice Total is established with Fintech for each vendor and applies to each individual invoice.
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What is the difference between a Max Invoice Total and a Max Limit?
The difference between the maximum limit established in conjunction with a bank filter and the Maximum Invoice Total is:
The Maximum Limit with a bank filter is established at the retailer bank and applies to the entire EFT transaction file amount.
The Maximum Invoice Total is established with Fintech for each vendor and applies to each individual invoice.
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How are credits processed?
Credits are processed as soon as they are due. If the net amount is a credit to a retailer, the credit goes to the retailer on the due date. In most cases, the vendor's total monies being sent to the Federal Reserve in the same NACHA batch will wash the credit amount (with regard to the bank statement). However, if there is not enough debit, offsetting the credit amount, sent in within the same time period (not necessarily the same file) to go to the Federal Reserve in the same NACHA batch as the credit, then the vendor's account will be debited the remainder. Batch times are 9:30AM, 12:30PM, 1:30PM and our cutoff for the last batch of the day is 3:00PM. All times are EST.
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What do I do if I am not able to pick up my results or if I do not receive my Fintech report?
All results are available on our FTX website. If you need assistance in finding your results on the website, our customer service department would be happy to assist you with locating your results. Please call 1-800-572-0854 Ext. 401, click here or click the feedback link at the bottom of all of the pages on the Fintech website. We will respond by either email or phone call.
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How will I know what invoices are being processed each day?
You can access your online account to view the bank activity report which will show you specifically what was transferred electronically for that day. This report should match your bank statement.
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What happens if Fintech is not able to collect funds from the retailer?
If funds are not collected from the retailer, Fintech will contact the distributor and initiate a reversal from their bank account to reimburse Fintech. The distributor will then need to contact the retailer directly in order to collect funds.
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Who do I call if I have any questions about reconciling?
Call our Customer Support line at 1-800-572-0854 Ext. 401. The first available representative will answer the call.
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When will the invoices be processed?
The invoices will be processed as soon as the vendor submits them for payment. This is typically the business day following the delivery.
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When will I see my funds withdrawn from my account for the invoices processed?
The funds are usually withdrawn from your account 1-2 business days after the invoices are processed, depending on the invoice due date and when the trading partner sent in the invoice.
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What happens when a distributor sends in an invoice that exceeds my set max total?
You will be alerted that an invoice has come in that has exceeded your set Max Total amount for that distributor. Having the processing rule set up in FTX will cause an automated notification to be sent to alert you. The invoice will be processed without delay. If you need instruction on how to set these processing rules up in FTX, see the Help button on the Tools page. If you need additional assistance, call customer service or contact us through feedback at the bottom of any page of the website.
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What happens if I send the same invoice in for processing twice?
If an invoice is sent for processing with the same invoice number, store number and dollar amount, the invoice will be rejected as a duplicate and will not process.
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Can Fintech manually enter invoice data?
While FTX is designed to make manual entry simple for the user; Fintech does retain the ability to manually enter invoices at a charge to the requesting party. Please refer to your Ancillary Fee Schedule for fees affiliated with this service.
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I didn't submit a file today, but I received a NACHA post back and items show up on my Bank Activity Report. Is there something I don't understand?
The reason is that you submitted a file previously with terms due dates. Those term invoices have finally become due, so they were sent to the bank for payment today.
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My terms due date was set to be Wednesday, November 6, but that invoice showed up on my NACHA post back on Tuesday, November 5. Why is this?
If term invoices are submitted in advance to Fintech, we will send the payment to the bank the business day before the terms due date, so that the funds are available/withdrawn in/from your account on the terms due date.
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How do I get an old invoice approved for payment?
In order to process an old invoice (30 days or more), you will need to contact your retailer to get approval for the invoice. You do not need approval to process credits (new or old), but you will need Customer Support's assistance to process them if they are older than 30 days. Please send all of the invoice information related to what you wish to process (invoice number, original date, amount of invoice) in an e-mail to the retailer. You may CC support@fintech.net to expedite your request.
You can find the contact information for your trading partner in FTX. On the FTX home page navigate to the Tools section, click "Company" and then click "Trading Partners". A list of all of your trading partners and their individual contact information will be listed.
Your retailer can send the approval directly to Fintech Customer Support for processing by clicking "Reply All" on the e-mail you sent them. Fintech process the invoices once we have the approval.
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Why does my status read Partial Posted?
The file that has this status contains invoices with future term due dates that are being held until the term due date arrives.
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Question's and Answers |
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Can multiple bank accounts be setup?
Fintech can setup a separate bank account for each delivery location and, if required, for each trading partner relationship.
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What states have approved the Fintech system?
The Fintech system has gained approval from all 50 state regulatory agencies and the District of Columbia as a cash equivalent for the purchase of beer, wine, and spirits. Click here for more information on our approved states.
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What information do I need to add a new store to Fintech?
Contact Fintech with the following information: Store name, corporate store name, and the delivery address of the location(s). If you are a retailer, please include your vendor number(s) for each trading partner. If you are a distributor, please include your customer number(s) for each retailer location.
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How do I refer a new retailer or vendor to Fintech?
Contact Fintech with the following information: Retailer/Vendor's name, address, contact name, and phone number. We will then contact the new retailer/vendor on your behalf.
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What if I lose my username and password?
To obtain your username, contact Customer Support at 1-800-572-0854 Ext. 401. If you lost your password, click here or click the "Lost Password" link on our homepage and a new password will be emailed to you. For security reasons, we do not keep your password on file.
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How do I add new users to our online account?
Each person wanting to set up their own user name and password on our website will be required to join the website using the Account ID provided by Fintech. The number of individual users you can set up on FTX is currently unlimited. We recommend that each user have their own username and password for login to the website. The first user who joined the website is in charge of assigning additional users rights to access specific areas of the website. For instruction on assigning user rights, please see the Help section on the Tools page.
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What do I need to become a user on FTX?
You will need Internet Explorer version 5.5 or higher. You will also be provided with an Account ID upon setup which you will use to join the website to set up your username and password.
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What if I change my bank account?
Submit a copy of a voided check for the new account or fax on company letterhead the new bank name, account and routing number to Attn Customer Support at 813-289-5599. Fintech requires 5 business days to verify the bank account and enter the new information in our system.
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What do I do if I want to cancel my Fintech services?
A written request needs to be submitted on letterhead and signed by an authorized company agent. More details about the Fintech Services Disclosure available here for Retailers and here for Distributors.
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When will the set up fees be withdrawn from my account?
You will receive a statement by email or fax and the date the funds will be withdrawn will be noted. You can also view your statement on our website.
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When do I stop writing checks/money orders? When is my live date?
The live date will be approximately 5 - 10 business days after the enrollment form has been received by Fintech. At which time you will be contacted by our Retail Installations Department to discuss a live date that suits you.
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How do I add a vendor at a later date and is there a fee?
Simply contact Customer Enablement at 1-800-572-0854 Ext. 402 to request the additional vendor. There is no set up fee for this, only the additional transaction fees.
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"As a much more convenient way of processing regulated payments, we chose Fintech as a way of enhancing our customer's experience with Halson Wine Provisioners while opening up our business to a greater number of retailers. Additionally, we're excited about exploring the many ways Fintech will be able to assist us in sharing our terrific wines with more customers in and around the Charlotte area."
Halson Wine Provisioners, LLC
"We are fortunate to have Fintech as one of our accounting partners that no one ever hears about because they continue to go about their business effectively but quietly in a business where everyone else wants public recognition. Thanks Fintech!"
The Charleston Crab House
"Fintech makes accounting easy by providing a direct debit at the time of invoice. Our Fintech sales representative has provided excellent service from the day we started."
Jake's Hamburgers
"The implementation process was simple and I have found the service to be accurate, timely and very reasonably priced. The accounts payable process has been greatly simplified for us. We have confidence that all invoices are paid in compliance with the state's liquor laws. Our vendors are happy with the Fintech service and report their accounts receivable have been simplified as well!"
Escalante's Comida Fina
"Working with Fintech for our accounts receivable lightens the load definitely! As a Fintech customer we rely on their service for many accounts. They have excellent tools to help manage our accounts. Fintech offers a very quick and easy, user friendly format to do business with just a few clicks you can print out records to suit your needs. Most importantly they have great customer service reps to help solve any issue. We truly wish more of our customers would consider going with the Fintech..."
Beverage South of Aiken, LLC
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