Payment Assistant Payment Processing Questions

To establish the payment delivery method, a real person will contact your vendor as an agent of your organization. After the payment delivery method is agreed upon, Payment Assistant automates the rest of the contact.

Once a payment run is approved, the funds are pulled from your account and a one business day hold is put in place. All payment methods are processed immediately after this hold. Checks typically take 7-10 business days in the mail.

Payment Assistant attaches links to the check images. There's also an attachments tab on the payment run record. For example, you can attach copies of the invoices in the payment run to the payment run record.

Pre-payment reports summarize what payments will be created when a payment run is approved. it includes payee, post, and General Ledger account info. These can be used for additional offline review and approval. They can also be uploaded to the payment run.

At this time, you can't reject a single payment in a payment run. You need to delete the payment run and start over.

Yes, invoice details like distributions can be updated at any point, but you may have to repost the invoice and record an adjustment.

Payment Assistant doesn't have check limits. It withdraws as a single ACH payment from your bank account. If your organization wants additional controls, those need to be implemented outside of Financial Edge NXT.

The entire payment run is approved with a single action.

Payment Assistant waits 7 business days to see if a balance still exists on virtual card payments and 21 days for checks to confirm receipt of the check. After that amount of time, a payment specialist will either assist the vendor with accepting the funds, reissuing the check, or offer another payment method.

If the payment can't be completed, then the funds are returned to the organization, and the payment can be voided and reprocessed using another payment method.

All invoices that are ready to be paid for the selected bank account are included in the selection list. Vendor payment method defaults are ignored, so it doesn't matter which method you have selected.

Invoice number, vendor address (including city, state, and zip), vendor customer number, and vendor phone number. Vendor contact email is optional, but strongly encouraged.

Vendors are not contacted until the first time you select to pay them with Payment Assistant. When you first select an invoice to be paid, the vendor is contacted to determine the vendor's preferred payment method.

You need to update the vendor record with the required info before processing the payment with Payment Assistant.

Payment Assistant records when all of your payments have been delivered to your vendors. Payment runs and payment statuses are updated in real time when new information is available.

When a vendor says they want to be paid by ACH, a Payment Assistant agent sends the vendor an authorized form. The form can be signed via DocuSign and then they'd attach proof of their bank account. This proof can be a bank voided check, a bank letterhead signed form, or a snippet of their bank statement.

Payment Assistant records are recorded as bank drafts. Each bank draft includes links to the invoices being paid, and each invoice has a link back to the bank draft.

No, we don't currently have a vendor portal, but it's on the roadmap. For now, vendors can update their preferred payment method. We recommend vendors reach out to our Payment Assistant partner, REPAY, to update their preference. To contact REPAY, call 801-679-6044 or 801-762-8772, or email payableshelp@repay.com.

Your Financial Edge NXT client name and remit to address displays on the checks, along with the invoice number.

Organization name, organization address, payment method, total payment amount, payment instructions, remittance contact information, invoice number, gross amount billed, adjustments, net amount paid, customer number, and specific payment method information, such as card number, expiration, CVC, or check number.

Yes, you can manually run payment processing from Treasury.

No, only Payment Assistant payments are visible directly in Payment Assistant.