J.P. Morgan E-Invoicing Frequently Asked Questions
Why should a vendor enroll?
Who is J.P. Morgan and how do they relate to National Grid?
What technical effort is required to enroll as a vendor?
What invoice formats does the JBSN support?
How will I be paid with J.P. Morgan e-invoicing?
Are there any fees for submitting invoices via J.P. Morgan?
What if I’m already using Evaluating Receipt Settlement (ERS)?
Can I select an early payment term during enrollment?
What are ASAP terms?
Can I use this solution to electronically settle with other companies?
When can I start submitting invoices and receiving payments via JBSN?
Whom should I contact if I have questions?
Pay Me ASAP Description
Why should a vendor enroll?
J.P. Morgan provides vendors everything they need to submit electronic invoices to and receive electronic payments from National Grid.  The solution eliminates the time lag of mailing paper invoices and checks and provides up-to-date information on the approval status of any submitted invoices. And because it validates all invoices sent to National Grid, vendors know immediately if there is any missing or incorrect information that might delay the payment.  Finally, it provides a fast efficient means to communicate exceptions and easily resolve disputes. 
 
Features

  • Receive Purchase Orders and create Advanced Shipping Notices & PO Acknowledgments electronically
  • Submit invoices electronically, eliminating paper and mail costs
  • Receive payments electronically, directly into your bank account, without the delays of U.S. mail
  • Current status information on any invoices submitted electronically
  • Validation of invoices at submission to identify issues that would delay processing
  • Fast, convenient way to resolve billing exceptions or disputes
  • Reports on invoice aging and forecasts cash collections from approved payment dates
 
Benefits: 
  • Cuts A/R processing costs
  • Removes the guesswork from collections
  • Helps forecast cash collections
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Who is J.P. Morgan and how do they relate to National Grid?
National Grid has partnered with J.P. Morgan (formerly Xign Corporation), a leading provider of electronic invoice and payment processing solutions.  The J.P. Morgan Business Settlement Network (JBSN) is J.P. Morgan’s software and service network used by thousands of companies to settle payments electronically.  The J.P. Morgan solution addresses the needs of both large and small vendors and provides a choice of functionality depending on their needs.  Best of all, J.P. Morgan’s capability is not unique to National Grid, so enrolled vendors will automatically receive the benefits of electronic invoice and payment with any other customers who choose to settle via the JBSN.
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What technical effort is required to enroll as a vendor?
Most vendors can be activated to send invoices to and receive payment from National Grid without any need for technical support. The solution is entirely web-hosted and does not require any special software.  The basic service enables vendors to submit invoices and receive remittance online from any web browser. The training is simple and can be accomplished online in the matter of minutes.
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What invoice formats does the JBSN support?
There are three ways to submit invoice data electronically to National Grid via J.P. Morgan.
  • Purchase Order “Flip”: This method creates an invoice quickly and easily through the web by clicking a button to ‘flip’ an open National Grid PO into an invoice and edit as necessary for goods/services delivered.  Vendors then add any other required information, such as invoice number, and transmit the invoice to National Grid. This option is available if a vendor receives POs from National Grid today.


  • Web Form: This method allows select vendors to submit non-PO invoices to National Grid using a blank web form.


  • “E-File” • “E-File” Submission: This method transmits invoices created in a vendor’s billing system to National Grid in much the same way as sending an e-mail attachment.  Vendors merely export invoices from their billing system in standard comma separated value (CSV) formats.  Using the J.P. Morgan application, the e-file is loaded into J.P. Morgan and transmitted to National Grid. For those vendors looking for a 100% hands off approach, J.P. Morgan also supports e-file submission via File Transfer Protocol (FTP). 
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How will I be paid with J.P. Morgan e-invoicing?
You will receive an electronic payment. This is a convenient electronic transfer of funds to your bank account via the Automated Clearinghouse (ACH). You will receive an e-mail notification for every electronic payment from National Grid, and you can also log into the J.P. Morgan system to download remittance details and view historical data.
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Are there any fees for submitting invoices via J.P. Morgan?
J.P. Morgan Corporation administers vendors’ participation in the JBSN. There is no charge for the Basic Service which includes the online PO Flip, web form, and e-mail remittance processing.  If advanced service is required, J.P. Morgan charges vendors a one-time set up fee for e-file mapping, and there is a one-time set up fee for vendors to set up an FTP relationship. 
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What if I’m already using Evaluating Receipt Settlement (ERS)?
Some vendors on ERS have requested a more streamlined and auditable method for receiving payment from National Grid.  J.P. Morgan e-invoicing provides vendors with additional benefits listed below when compared to ERS:
  • Detailed remittance information enabling vendors to accurately and easily apply payments
  • Online access to invoice and payment status
  • Facilitated inquiry and dispute resolution
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Can I select an early payment term during enrollment?
Yes. Through the J.P. Morgan Business Settlement Network, National Grid can approve invoices rapidly and pay you early.  You will receive a selection of new early payment terms in your announcement letter that you can accept upon enrollment.
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What are ASAP terms?
ASAP terms encourage customers to pay you sooner than with traditional payment terms by prorating the discount percentage you choose between the discount due date and the net due date.  (See ASAP description at the end of this document for more detailed information.)
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Can I use this solution to electronically settle with other companies?
Yes. Activation in the JBSN lists all public vendors as a vendor in J.P. Morgan’s shared vendor directory. This means that vendors can send invoices to and receive payments from any customer who chooses to automate with J.P. Morgan. If the vendor would like to use this process with other customers, J.P. Morgan will be happy to contact those clients to explain the value and benefits of the solution.
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When can I start submitting invoices and receiving payments via JBSN?
After completing your online enrollment through the website provided in the J.P. Morgan enrollment letter, you will receive two email notifications: one from J.P. Morgan notifying you that you have been successfully activated in the JBSN, and the other from National Grid indicating when you can begin receiving POs and submitting PO acknowledgements, Advanced Shipping Notices and invoices electronically to National Grid. 
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Whom should I contact if I have questions?
For questions regarding J.P. Morgan functionality or the enrollment process, please call J.P. Morgan's Supplier Services at 800-485-0671.  For National Grid specific Procurement and Payables inquiries, please e-mail xign-enrollment@us.ngrid.com.
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Pay Me ASAP Description

Pay Me ASAP terms encourage your customer to pay you sooner than with traditional payment terms by prorating the discount rate you choose down to zero between the discount due date and the net due date.
 
Traditional early payment terms encourage your customers to pay on or before the discount due date. If they are not able to approve the invoice in time, they generally do not pay until the net due date.  With Pay Me ASAP, your customer is encouraged to pay you more quickly due to the financial incentives of the discount offered.  This is accomplished by prorating the discount that you have chosen down to zero from the discount due date to the net due date.
 
For example, for an invoice with 10 days, 2% discount, Net 30 payment terms, customers will generally attempt to pay within 10 days in exchange for a 2% discount.  However, they often are not able to approve the invoice in time so the vendor ends up waiting until day 30 to be paid.  However, if the term was 10 days, 2% discount, Net 30 Pay Me ASAP, then your customer will have an incentive to pay you as soon as possible.  For example, if your customer is able to approve the invoice and pay on day 20 (halfway between day 10 and day 30) they’ll be able to do so in exchange for a 1% discount (half of the 2% the vendor agreed to).  See the table and graph below to see how the discount declines for a $10,000 invoice.  This declining discount encourages your customers to approve the invoices quickly and pay you immediately thereafter.
 
 
Pay Me ASAP enables vendors to receive payment as soon as invoices are approved by their customers. The discount is calculated based on the agreed payment discount percentage—e.g., 10 days, 2% discount, Net 30—prorated for the number of days early the payment is made. In the example above, if the invoice was paid on day 20, this would equate to a 1% discount.
 
If you have further questions, please contact J.P. Morgan's Supplier Services at 877-263-5188.
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