Paying Imark Vendors

Task/Problem Overview

In this document, we will cover how to submit IMARK remittance through the member portal on imarkgroup.com

Assumptions

This KB article will assume that IMARK is set up properly as a remit vendor and the vendors under the IMARK umbrella are properly associated with that remit vendor.

Paying IMARK Vendors

• Enter all of your IMARK bills as you would normally in the Enter Bills Screen.

• Pay all of the bills as you would any vendor using payment method “check” and queue it to send

• Go to send documents tab in accounting

  

• Assign the check # with the following naming convention: Last two digits of the year, two digits of the month, two digits of the day including zeros in the case that it is a single digit day or month. Exp: December 9th, 2016: Check # will be 161209. This will be a fictitious check that you can simply print on normal paper as IMARK is typically paid via EFT. The reason we create a check is because we drive the IMARK report by check number. The reason we advise you to create a fake check number with the above convention is so that you don’t waste a physical check and so that you can search for all IMARK payments of any given month based on the date it was paid.

• Print

  

Generate IMARK Remittance

• Open the reporting engine and search for the IMARK Vendor Payment Summary Report

  

• Double click the report and enter the check number in the “Equal” box. Click “Preview” to generate the report.

  

• The report will generate an .xlsl file (excel spreadsheet). Save this document somewhere on your PC where you can find it. It will be easiest to save it on your desktop.

  

• Open the file that you just saved and save the file as an .xls file (Excel ‘97-’03 Workbook). (File -> Save As -> Save As Type -> Excel ‘97-’03 Workbook). You can verify the file extension by right clicking the file and selecting properties. This is required as the imarkgroup.com portal requires this file extension as of 12/31/2016.

  

• Once saved, open the spreadsheet and Rename the sheet to “Sheet 1” by double-clicking and typing Sheet 1. Be sure to Save.

  

• Insert the following column headers: Supplier CID, Supplier Name, Purchases, Cash Discount and Net Payment to the first row of the spreadsheet.

• To do this, right-click on Row 1 and click insert row. Add the columns as shown below and be sure to save your changes.

  

• To verify that your numbers are accurate, you can use the summing function in excel to ensure that Column C - Column D = Column E and that the sum of Column E is equal to the total dollar value of the check you created in step 3. Be sure to delete these sums before you save your spreadsheet as IMARK won’t accept the spreadsheet with these values on them.

Entering IMARK Remittance on imarkgroup.com

• At this point, you are ready to import the spreadsheet into the IMARK portal. To do so, follow this path: Imarkgroup.com ->Log In ->Tools ->Accounting ->Payment Advice ->Enter Access Code

  

• Enter the three values that were summed from columns C, D & E into the Payment Advice Screen and click submit

  

• Choose “Upload my payment advice file” when prompted

  

• Click “Browse” and navigate to the excel file you created earlier in this process. Submit that file.

• At this point, you will be brought to a screen that will reconcile the values you entered manually in the “Total Check Amounts” screen during a previous step and the sum totals of columns C, D, and, E that IMARK reads off of the spreadsheet you imported. Assuming these three values match you will push the “Finalize Purchases” button

• If you need to send each individual vendor remittance advice, you can run the “IMARK Vendor Remittance Advice” report and send the remittance to each vendor accordingly