Creating Business Entities

Abstract

Administrators configuring Payment Automation often need to set up specific business entities to streamline how payments are processed and tracked across different branches or subsidiaries. By creating these entities within the payment automation platform, users can maintain accurate contact information, ensure remittance details are sent to the correct address, and uniquely identify each entity’s outgoing transactions. An example would be a company that has multiple divisions under one parent organization — each division can be established as a separate entity, with a separate bank account and business address, for tailored payment handling.

This article provides a detailed overview of how to create a new business entity for payment automation. It outlines the essential fields required, including unique email addresses, AP contact information, and optional transaction ID prefixes, along with step-by-step instructions. Following these guidelines will help administrators configure payment automation efficiently and accurately for any new or existing organizational structure.

Creating Business Entities

Below, you will find instructions on creating a new business entity specifically for payment automation. These steps will help you distinguish each subsidiary or division, set up relevant email addresses, and properly configure the AP contact data for remittance notifications.

1. To access the Business Entities form, you first need to access the configuration settings. Open the SquareWorks menu, select Automate, and then click the Settings tab:

   

2. In order to keep each division distinct under your main organization, locate and open the Business Entities form in your Payment Automation platform:

   

3. A business can have multiple business entities underneath, so the first thing to get started is to select Create Business Entity:

   

4. To create your business entity, supply the needed information on the Create Business Entity form:

   

5. To ensure accurate entity identification and seamless payment processing, you must enter your Business Name and assign a unique Email address:

   

   Note: If you need to reuse an existing address, add a plus sign (+) followed by any number or letter, then finish it with your regular email domain or postfix. For example, if [email protected] is already used you can re-input that email address by entering [email protected].

6. Specify a separate AP contact by filling in the AP Contact Information field with the details of whoever handles payment automation. This AP contact will receive remittance emails when payments are released and paid out to the vendor.

   

   Note: The AP Contact Information can be different from the Business Name. You can always update this email later if responsibilities shift.

7. When you need to quickly see which entity initiated each payment, enter a short code in the Transaction Id Prefix field (like “TEST” or “ABC”) under Additional Settings:

   

   Note: Prefix is an optional field, it must be a capital letter or number.

8. Once you’re satisfied with your setup, click Submit. Your Business Entity has been created but is not verified yet. You will automatically be directed to complete Business Entity Verification in the next step.