Payment Settings

Owned by Uma Srinivasan (Unlicensed)
Last updated: Feb 13, 2020 by Jing Tong (Unlicensed)

In the Payment Settings tab, you can configure your payment set up, such as how invoices are aged, when batches are scheduled, when payment is initiated, and so on.

Settings

Payment Scheduler Frequency

Specify how often payments are to be scheduled.


You can choose to schedule payments in any of the below frequencies:

  • Daily
  • Weekly (select the day for scheduling payment)
  • Biweekly (select the day for scheduling payment)
  • Monthly (select the date for scheduling payment)

All approved and eligible invoices are scheduled into appropriate batches for payment based on the frequency set here. The specific batch an invoice is placed in also depends on these other settings: your payment terms, Pay Sooner than Agreed Time, Auto-Pay Invoices Below, and Early Payment settings.


Payment batches are scheduled at the start of the calendar day Eastern Standard Time (EST) on the days/dates set here. For example, if your payment frequency is weekly on Monday, batches will be scheduled between 12 and 4 AM EST Monday, irrespective of your local time zone.

Should any of your service providers remain unverified, their invoices will not be scheduled for payment through Payment Manager.

Payment Initiation Delay

Once a payment batch is scheduled, transfer of funds is initiated after the time limit specified here. Make sure your account is funded the previous business day.


For example, if your payment frequency is weekly on Monday, and you set a 2 day Payment Initiation Delay, payment will be initiated between 12 and 4 AM EST Wednesday.

Pay Sooner than Agreed Time

Specify when you want to pay invoices in the agreed upon window. When Yes is selected, invoices are scheduled for the next immediate batch. Otherwise, invoices are paid as late as possible within the agreed timeline.


For example, if you pay up to 30 days after an invoice is approved (set either globally or in Payment Terms in Compliance Manager), and your batches are scheduled on Monday every week, invoices are scheduled for payment as below:


  • When Yes is selected: An approved invoice will be scheduled for payment in the Monday following the approval.
  • When No is selected: An approved invoice will be scheduled for the latest Monday that falls within the 30 days minus the processing time. With a standard payment processing time of 5 days, you have 25 days to make the payment. An invoice that is approved on the 1st of the month will be scheduled for payment in the last Monday in the available 25 days.

Auto-Pay Invoices Below

Specify whether you want to auto-pay smaller invoice amounts using your credit card; paying with a credit card may earn you certain corporate credit card rewards.


To auto-pay with a credit card, select Yes and enter the maximum invoice amounts that can be paid immediately using your credit card.


When invoices below the threshold are approved, they are scheduled as a new batch for immediate payment through the default credit card.


Note that, however, not all providers may accept credit card payments; in such instances, for those providers, invoices below the specified amount will be paid in regular scheduled batches.


Setting a Default Credit Card for Auto-Paying Smaller Invoice Amounts

When you set Auto-Pay Invoices Below to Yes, all credit cards added as payment methods list in this field. You can set a default for auto-pay by clicking the grey circle next to the desired card. A green check mark appears, and the card is set as the default for auto-paying low invoice amounts as specified.

Early Payment

Invoices that have early payment discounts will be paid sooner when you select Yes. Applicable invoices will be scheduled as early as required to make use of the discounts.

Light Push

In situations where the invoice amount is big or your facility team wants to review the invoices before making the payment, you can now choose to push payments by putting the payment on hold. When push payments have been enabled, the payments will never be initiated by the system. They will always need to be initiated manually using the "Pay Now" button on the Scheduled Batch.

⦿ How to Enable Light Push
  1. On the Payment Manager Setting pop-up, toll the button to the right to enable the light push function.
  2. On the Payment Manager page, click “Schedule to Pay”, select the invoices you want to add to on hold, then the payments of your selection won’t be initiated by the system.
  3. On the Payment Manager page, click “On Hold”. Click “Schedule” to select the desired date for the payment to go out.
  4. You can also click on the "actions" button to make changes to the invoice as needed. 

Email Settings

You can choose to receive email notifications when payment is scheduled, initiated, and processed or when a payment fails.

⦿ How to Update Email Settings
  1. In the Payment Manager Settings pop-up, click the Payment Settings tab. Settings for payment appear.
  2. In the Email Settings section, select Yes.
  3. Enter the desired email.
  4. (Optional) Click the New Email to add additional emails to receive notifications, and enter the desired email.
  5. Select the desired notifications by checking the box(es).
  6. Click Save. A confirmation dialog appears.
  7. Click OK. Email settings are saved, and a confirmation message appears at the top of the page.

In this Article

Related Articles