The remit address is a requirement on the Payment Request Form. It is required for several reasons:
- Making sure that we select the correct vendor for recording the transaction, which is crucial when we have two vendor records with the same name or DBA’s
- Making sure that the payment is sent to the correct address for regular check payments, or to have as a backup when Direct Deposit (ACH) payments are made but encounter some problem.
- Verifying the withholding address of the payee when the transaction is reportable via IRS form 1099.
Please remember that even if a vendor chooses to select their payment method as Direct Deposit, it does not waive the requirement for a valid remit-to address.
If you have any questions regarding Payment Requests just ask us!