|No bank has been selected to pay the transactions|
This error occurs when the payment account being used is not associated with a checking account or a charge account (for credit card payments) in Intacct.
If the Bill.com Clearing Checking Account is not set up and associated with a Bill.com Clearing GL account, or the sync user doesn't have the correct user permissions to the Cash Management module, this error will happen. Also ensure that the payment account listed on the payment in Bill.com is account type bank.
When setting up the Sync with Intacct, one of the steps is to set up a bank account (and GL Account) used for payments in Bill.com called Bill.com Clearing. For each payment account (type bank account) that you would like to use for a payment in Bill.com you would need to associate a bank account in Intacct.
Here is an example of what the Checking account should look like in Intacct, when associating to a "Bill.com Money Out clearing".
RECORDING BILLS PAID VIA CREDIT CARD: When making a offline payment in Bill.com with a credit card type payment account, make sure you have a "Charge card account" associated with that credit card payment account.
In Intacct, set up the bank account you use for payments in Bill.com
- When you use Bill.com to pay vendors, we make a single Automated Clearing house (ACH) debit per day to your bank account. This single debit might be for more than one bill payment that day.
- To make it easier to reconcile your bank account with a single debit, we provide a Bill.com Money Out Clearing account. All your individual bill payments made via Bill.com will be posted to this clearing account. We also create a journal entry in Intacct to record the debit.
To set up the bank account:
- On the Home page, Cash Management > click Checking Accounts (note: may need to click Open Setup to view Checking Accounts)
- On the Checking Accounts page, click Add
- On the Checking Account Information page, under Financial institution, enter:
- Account ID: Bill.com Clearing
- Bank name: Bill.com
- Account Number: an unused number, such as 1071
- Title: Bill.com Money Out Clearing (note: A default account of the same name/title is in Bill.com. To ensure there are no duplicates, double check to ensure the exact title is used.)
- Account Type: Balance Sheet Account
- Period End Closing Type: Non-Closing Account
- Dimension settings: leave all dimensions unselected