Overview
With Wrapbook’s Vendor Payments feature, you can pay vendors directly from Wrapbook using ACH (Automated Clearing House) bank transfers — no NACHA file downloads required.
This guide covers everything you need to get set up and start processing payments.
Once you’ve setup Vendor Payments in Wrapbook, you’ll be able to:
Before you begin
Before you can set up Vendor Payments in Wrapbook, you’ll need the following:
Access to Vendor Payments
To use Vendor Payments in Wrapbook:
Your company must have Wrapbook’s Production Accounting Suite (PAS) enabled
The Vendor Payments feature specifically must be enabled for your company by Wrapbook
If you don't see Vendor payments in your Company settings, contact your Wrapbook Customer Success Manager or the Support Team for more information about using this feature.
Required permissions
Access to Vendor Payments in Wrapbook is permission based. In order to use this feature you’ll need to be assigned one of the following roles:
Role | What this role can do |
|---|---|
Company Admin | Complete KYC, enable bank accounts at the company level, create approval workflows |
Assigned Project Coordinator or Project Assistant | Add bank accounts at the project level, add vendor banking info, create invoices, process payments |
Set up at a glance
Setting up and using Vendor Payments involves the following steps:
(Optional) Create and apply a vendor payment approval workflow
Enable a bank account for vendor payments at the company level
Step 1: Complete KYC verification
Before your company can process vendor payments, a Company Admin must complete a Know Your Customer (KYC) verification through Stripe. This verification is required to set up a Stripe-powered financial account that you’ll use to fund vendor payments through Wrapbook. This is a one-time requirement — once complete, the financial account is available across all of your company's current and future projects.
IMPORTANT DISCLOSURES:
Wrapbook is neither a bank nor a money transmitter. Wrapbook partners with Stripe Payments Company for money transmission services and account services with funds held at Fifth Third Bank N.A., Member FDIC.
How to complete KYC verification:
In the left-side navigation, click the dropdown menu and select All projects
In the left-side navigation, click Company settings
Under Funding Methods, click the Manage button next to Vendor payments
Review the information on the screen and then click the checkbox to agree to the Stripe Terms of Service
At the bottom of the page, click the Begin setup button
On the Tell us about your business page, fill in your business information. Most fields will be pre-filled from your Wrapbook account, but you'll need to manually provide:
Employer Identification Number (EIN)
Business phone number
Business website (or a business description if your company doesn't have a public website)
This information should reflect the company that owns the account (your parent company), not a subsidiary production entity
When you’re ready, click the Continue button
On the Verify you represent this business page enter information for your business representative — the person with signatory authority:
Legal Name
Email Address
Job Title
Date of Birth
Home Address
Last 4 digits of your SSN
Or you can click the Provide a government-issued ID number link to enter your ITIN instead
Percent ownership in business
Click to confirm that you own at least 25% of the business
When you’re ready, click the Continue button
On the Review and submit page:
Review the information that you’ve entered. If you need to update or add incomplete information click the Edit button
At the bottom of the page, review the terms. When you’re ready, click the Agree and submit button.
What happens next:
You'll see an Information submitted confirmation page
A member of Wrapbook's Vendor Payment Operations team will reach out to confirm your KYC approval or to request additional information - usually within 1 business day
Can I continue setup while KYC is pending?
Yes. You can link bank accounts at the company level while awaiting Stripe approval.
However, you cannot process vendor payments until your KYC information is approved
Step 2 (Optional): Create and apply a vendor payment approval workflow
Vendor payment approval workflows are not required to process vendor payments in Wrapbook. If your company doesn't need an approval process, you can skip to Step 3.
The vendor approval workflow must be created in Company settings before you can use it with a project
Once created, a vendor approval workflow must be assigned to the project in Project settings
Only one vendor payment approval workflow can be applied per project
If you assign an approval workflow to a project, all approval requirements must be met before a payment can be processed.
To learn how to setup a vendor payment approval workflow, see Create an approval workflow
To learn how to apply a vendor payment approval workflow to a project, see Additional settings
Step 3: Enable a bank account at the company level
You can enable a bank account that's already linked for payroll to also be used for vendor payments — they are managed independently and do not affect each other.
To enable a bank account for vendor payments:
In the left-side navigation, click the dropdown menu and select All projects
In the left-side navigation, click Company settings
Under Funding methods, click the Manage button next to Bank Accounts
On the Company bank accounts page, find the account you want to enable. Check whether there is a green checkmark under the Vendor ACH column.
If there is already a green checkmark, the account is already enabled for ACH vendor payments. If there is a (-), the account is not yet enabled
Click the three-dot (⋮) menu next to the bank account and select Edit
Next to Vendor ACH payments, click Edit
In the Enable ACH vendor payments popup, click the Enable vendor ACH payments button
The bank account is now enabled for vendor payments at the company level. To use it for funding on a specific project, continue to Step 4.
Step 4: Add a bank account at the project level
Bank accounts enabled at the company level must also be added to each project before they can be used to fund payments on that project.
To add a bank account at the project level:
In the left-side navigation, click the dropdown menu and select the project
In the left-side navigation, click Project settings
In the PROJECT SETTINGS submenu click Accounting
Under Accounting settings click the View button next to Bank Accounts
On the Bank accounts page, click the purple + Add bank account button and select Checking/savings
On the Add bank account page, under Vendor ACH payments, click to check the box next to This account will be used for paying vendors via ACH
Click the Select company bank account button and select the ACH-enabled bank account you want to use
Only bank accounts enabled for ACH vendor payments at the company level (Step 3) will appear in this list
In the Bank information section, enter:
Bank name - Enter a name that will make it easy to recognize when selecting a funding method on AP invoices
Currency
Check account number
Check routing number
Optional information including Contact name, Contact phone
In the Coding section:
Click each cell to select the Cash and Clearing accounts in the Account Code column
This is required — you cannot process payments without cash and clearing accounts configured in your Chart of Accounts (COA)
Optionally, click the check box to Set this as my default bank for AP invoices if you want newly created AP invoices to default to this payment method
When you’re ready, click the Save button
Step 5: Add vendor banking information
Each vendor must have banking information on file before you can include them in a payment batch.
Before you begin, collect the following from your vendor:
Bank Account Number
ACH Routing Number
Account Purpose (Is this account designated as a business or personal account by the bank?)
Account Type (Checking or Savings)
To add vendor banking information:
In the left-side navigation, click Vendors
Click the vendor's name, or click the three-dot (⋮) menu next to their name and select Edit vendor
On the Edit vendor page, under Bank Account, click the Add bank account button
Enter the Account number
Enter the Routing number
Select the Account purpose and Account type
Optionally, upload the vendor’s W-9:
Click the Select a file button
Enter the W-9 Expiration date
Click the toggle to Enable vendor status to active
If the vendor is taxable, click the toggle to Enable vendor as taxable
If you want to apply accounting codes, you can click the + Add default codes button
Click the Save button at the bottom of the page
Tip:
If you want to ensure the vendor receives an automated remittance email with payment details after each payment is processed, be sure that a Contact email Address is listed for the vendor. This can be updated from the Edit vendor page.
If you would like to cc your shared accounting email inbox, one email address can be added in Project Settings under Accounting by managing ACH remittance notifications.
Notes:
Each vendor can only have one bank account on file at a time
Vendor banking information should be added before a payment batch is approved to avoid errors. If a vendor doesn't have banking information on file, you'll see an error message during invoice entry.
If a transaction already shows as Paid on the project’s Accounts payable dashboard, the vendor's banking details have been transmitted and updating the vendor profile will not affect that payment. Changes made before a batch is paid will apply to that payment.