Potential Problems Using Multiple Accounts for Same Payee
  
PSS ID Number: Q153854
Article last modified on 09-13-1997
 
4.0 4.0a 5.0
 
WINDOWS
 

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The information in this article applies to:
 
- Microsoft Money versions 4.0a, 5.0 for Windows 95
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SUMMARY
=======
 
This article details some of the potential problems when using
multiple payee names for the same actual payee when using Online
Bill Payment.
 
MORE INFORMATION
================
 
You may wish to have multiple payee references to the same actual
payee. For example, if you have multiple accounts with the same payee,
you may want to distinguish them as different payees in Money to allow
a different account number in the Payee Details for each payee.
 
This can be accomplished by creating visible or hidden differences in
the payee names.
 
Visibly different payees would be:
 
John's Credit Card
Jane's Credit Card
 
Hidden differences in payees are accomplished by putting information
inside of curly brackets {}. Information within curly brackets is not
printed on checks within Money but is still sent to Online Services
and may be printed on their checks. The following is an example of
hidden differences:
 
Credit Card {John}
Credit Card {Jane}
 
OR
 
Credit Card {123456789}
Credit Card {987654321}
 
VISA InterActive
----------------
 
VISA InterActive (VISA) assigns a separate Merchant ID to each payee,
even if the payee name or address is the same, so these issues should
not apply to accounts using VISA as the Online Bill Payment service
provider.
 
Intuit Service Center
---------------------
 
The above methods may be used with any Online Bill Payment service
provider. However, there are some known issues with multiple payees
when using Online Bill Payment through Intuit Service Center(ISC).
 
When you create and send an electronic payment (Epay or Apay) in
Money, ISC returns information concerning the number of days required
to make the payments, new address information, etc. Money uses this
information to update the Payee details for that payee. At this time,
ISC assigns a Merchant ID number based upon the mailing address of the
payee.
 
Multiple payees sent to the same address are assigned the same
Merchant ID by ISC.
 
When ISC determines, based upon the Merchant ID number, that a payee
can be paid electronically rather than by paper check, ISC sends
instructions to modify the Payee Details for all payees with the same
Merchant ID on the next connection. The payee becomes an Electronic
Merchant that requires fewer days to pay as these payees are paid
electronically.
 
The Payee Details for this type of payee changes to:
 
Centralized Billing
Pay Online
IL     605323128
 
When ISC updates a payee to Electronic Merchant status, the phone
number does not change. However, the account number may change if
ISC has determined that the payee wants the customer's account number
changed to a specific format.
 
NOTE: In Money 5.0, you can edit the account number of an Electronic
Merchant payee without affecting the days required to pay that payee.
In Money 4, changing the account number increases the days required to
pay this payee to 4 days.
 
Subsequent Updates
------------------
 
Issues arise with ISC when Electronic Merchant payees are subsequently
updated by ISC. Refer to your version of Money referenced below.
 
Money 5.0
---------
 
If ISC subsequently sends updated information to change the number of
days required to pay a particular Merchant ID, Money only updates the
Payee Details for the first instance of the payee.
 
This can result in the first instance of a payee requiring a certain
number of days to send a payment, and all other instances of the same
payee remaining as originally updated.
 
In the rare case where all payee instances are originally set to 1 day
payees, and the relationship between ISC and the payee changes such
that ISC has to change the payee to a 4 day payee, only the first
instance of that payee changes in Money. This could result in an
incorrect due date calculation for the other instances of the payee.
 
Money 4.0a
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If ISC sends a information to change the days to pay an Electronic
Merchant, the first instance of a payee may be updated in such a
way that the account number is changed to the account number of a
different instance of that payee.
 
This was corrected in Money 5.0 for Windows 95.
 
E
 
Additional reference words: w_money V.I. VI Pay On-line online pay scuz
 wrong account
 
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Keywords          : kbonline 
Version           : 4.0 4.0a 5.0
Platform          : WINDOWS
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Copyright Microsoft Corporation 1997.