Automated Funding by Payment Type releases approved batches for you, so routine payment methods don't have to be funded by hand on the Funding screen. You choose which payment methods are funded automatically. Every other method still waits for someone to click Fund Selected.
This is an optional feature. Contact support to have it enabled for your environment.
Two different automations
Under Settings › System Config › Automations there are two separate switches:
- Automated Invoice Approval approves invoices for funding, using rules set on each client (on the client's profile, under Eligible for Automated Invoice Approval). It moves invoices to the Funding screen. It doesn't fund them.
- Automated Funding By Payment Type funds batches that are already waiting on the Funding screen. It doesn't approve anything.
You can use either one on its own, or both together.
Turn it on
- Go to Settings › System Config › Automations.
- Turn on Automated Funding By Payment Type.
- Click Edit and switch on each payment method you want funded automatically, such as ACH, Wire or Same Day ACH.
- Save. The methods that are on are listed on the main settings screen.
If you can't change these settings, ask support. Editing them may need a higher permission level than your role has.
What it does
- It picks up every batch on the Fund tab that uses one of your chosen payment methods, oldest first, and funds it shortly after it appears.
- It funds the batch exactly as it was approved: the same account, payment method, amounts and deductions.
- It applies to every client. There is no per-client opt-out and no schedule or pay date.
- Batches already waiting when you turn it on are funded too. Check the Fund tab first.
Funding is final. A funded batch can't be undone, whether a person or the automation funded it.
Things to plan for
- Holding a client's invoices until a later date: leave the invoices on the Pending tab until you're ready, because anything approved with an automatic method is funded straight away.
- Deductions such as chargebacks or fees are applied at Approve for Funding, as usual. Enter them there before you approve.
- More batches per day: once a batch is funded it can't take new invoices, so invoices approved later the same day go into a new batch.
- Methods you want to check by hand, such as wires, can simply be left off.