GoldFinch stores vendors as Salesforce Account records and supports purchasing, payables, payments, statements, and 1099 processes. Approved external services or Salesforce AppExchange solutions perform specialized identity, sanctions, and bank ownership checks.
Vendor information in GoldFinch
- Legal and display names, addresses, contacts, payment terms, currency, tax information, purchasing settings, and blocking controls.
- W-9 and supporting documents stored as Salesforce Files and related to the vendor record.
- 1099 vendor designation, reportable payments, and year-end export for submission through an IRS-approved filing provider.
- Purchase orders, purchase invoices, vendor payments, and vendor activity available from the vendor account and reports.
Compliance and validation options
| Requirement | Solution approach | Important qualification |
| IRS TIN Matching | Integrate Salesforce with an IRS-authorized TIN matching or vendor verification provider. | GoldFinch records tax data and results; IRS matching is an external service. |
| OFAC and sanctions | Use an approved sanctions screening API or AppExchange screening application. | Confirm the lists searched, screening frequency, and false-positive process. |
| SAM.gov debarment | Integrate with SAM.gov data or a provider that includes federal exclusion and debarment checks. | Define whether checks occur at onboarding, renewal, purchase approval, or payment. |
| Bank account validation | Use Plaid, the financial institution, or another bank verification provider. | Routing/account validation alone does not always prove account ownership. |
| Name and address cross-match | Compare verified provider results with vendor Account data and route differences for review. | Define matching thresholds and authorized exception approval. |
Recommended onboarding process
1. The vendor submits registration data and required documents through a secure portal.
2. Salesforce creates an onboarding request and checks required fields and duplicate vendors.
3. Approved integrations perform TIN, sanctions, debarment, and bank verification as required.
4. Exceptions are assigned for review with the source response and supporting documentation.
5. An authorized user approves the vendor for purchasing and, separately if required, for electronic payment.
6. Periodic or event-driven rescreening updates the vendor compliance status.
Security considerations
Tax identifiers and bank details should be visible only to authorized users. Configure portal sharing, field permissions, encryption options, approval controls, and audit history according to the organization’s security policy. Changes to sensitive payment information should require independent review before becoming active.
Related resources
Set Up Customer and Vendor Accounts
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