Interested or Third-Parties on Checks

[DBohner-(db)]

Howdy,

Trying to eliminate some custom modifications....

Is there a way to append "Interested Parties" or "Third-Parties" to the named payee on a check?

For example, Let's say that we are notified of a vender's legal obligation to have a spouse / partner co-sign (or sign-off) on a check. Is there a way, without modifying the check, to have those extra folks display on the check?

Thoughts / suggestions - appreciated!

(db)

 

[phoward]

Hi Daniel,

We do something similar with what we call joint vendors for construction. We enter a voucher for a subcontractor, but the check will be written to the subcontractor and their supplier. There is a vendor address book number for both the single subcontractor and one for the subcontractor AND supplier. After the voucher is entered using the single subcontractor address book number, we use Speed Status Change (P0411S) to Split the voucher, and enter the joint vendor number under Payee Number. Doing that will cause the check to print with both names. We have used this process for years to make payments this way. Let me know if you need more details.

Pam

 

[DBohner-(db)]

Thanks Pam,

That reads like a very-manual process, if I understand. What is the check/balance to make sure that check will be named to all Joint Venders?

If I receive an invoice from a sub (how do you know to target them and their supplier??) - is there any automation?

If I read correctly (and between the lines):
- Sub and Supplier have to notify you of a 'shared' interest
- You create a new Address Book for the shared interest
- When you receive an Invoice, you have to identify it as a shared invoice - and pay it as a shared/joint ...

This stuff can be painfully messy. Maybe we need to chat with Oracle about an enhancement?

(db)

 

[phoward]

Hi Daniel,

Yes, it is very manual. There is actually more. In our situation, this all begins with a Preliminary Notice, which we receive via certified mail. That is what lets us know that a Supplier will need to be added to the payments for our subcontractor for the 'shared' interest. That notice is a legal notice with the amount due. Yes, we create a new Address Book record. When we receive the invoice, we key it to the original address book number, then change the Payee to the new Shared Address Book number. This is done for 1099 purposes. The original address book number gets the income on the 1099. This also keeps all the invoices under one address book number for researching. A subcontractor can have several suppliers and it would be more difficult to keep track of them if we had to find them under all the shared numbers.

When the check is ready to be cut, we need additional paperwork from both parties before the check can be sent out. These are lien releases. They are our release from the Preliminary Notice. It is all to satisfy the legalities and I don't really know all the details, but there is more paper involved in the process. There is no automation because it really is different every time. The amounts are always different, not every subcontractor has a supplier, some have multiple suppliers. Each situation is different. The final check for us is several people review all the paperwork before a check is mailed or given to the subcontractor. Again, very manual.

I've never really considered an enhancement. I don't know how other construction companies are handling this process. We have been doing it this way as long as we have used JDE.

 

[DBohner-(db)]

Our process is 'so much easier'...

We have a couple 'Interested Party' tables. When checks are run, if the check-type fits a specific group, the AB# is checked against the 'Interested Party' tables. If there are 'Open Interested Parties' on that check, the names are append to the check...

Our manual process is:
- Receive notification of an Interested Party
- Update the IP Table
- During Checks Runs, include the IP - until notified to do expire the IP Record (either system or manual)

Since Interested Party or Liens are not a new concept (in many industries) - it would be nice for Oracle / JDE to provide an enhancement (maybe by JDE 10???)

Thank YOU!

(db)