Creating Your First Payment Run Tutorial

This tutorial shows you how to prepare for and create your first payment run using Payment Assistant.

Before you begin, review the Getting Started with Payment Assistant Tutorial to understand the basics of Payment Assistant.

Verify bank account allows bank drafts

Treasury > Bank accounts

When Payment Assistant pays an invoice, it creates a bank draft record in Financial Edge NXT. To withdraw funds from a bank account to pay vendors, the bank account record must allow bank drafts.

1. From Treasury, select Bank accounts.

2. Open the bank account you set up with Payment Assistant. If you're not sure which account is linked, look for Enabled in the Payment Assistant column.

3. Select Edit.

4. Scroll to Subledger settings, then locate Transaction types.

5. For Bank draft, select either "Start numbering with" or "Start numbering as Computer check". Do not select Not used.

6. Select Save.

Enable EFT sharing (Optional)

You can opt-in to sharing your EFT vendor bank account details with Payment Assistant. From the Getting Started with Payment Assistant page or from Settings, Payables, under Payment Assistant, you can Allow EFT sharing .

Tip: : EFT details are shared only once with REPAY to set up the vendor’s Payment Assistant payment method.

Payment Assistant contacts the vendor and allows them to choose their preferred payment method. If the vendor selects ACH, the EFT details you shared are used for the one-time setup.

Note: If the vendor is an individual, they aren't contacted. They're automatically enrolled for check payments unless you share EFT details or an email address. If you share EFT information, REPAY validates it and attempts to auto-enroll the individual in ACH payments. If the individual's vendor record includes an email address, REPAY sends an ACH enrollment form via Docusign. For more details, see Paying Individuals with Payment Assistant.

Learn more about EFT Sharing with Payment Assistant.

Inform vendors in advance

It may be helpful to notify your vendors in advance that someone from REPAY will be reaching out to them. This can help prevent delays caused by miscommunication.

Use the following template to customize to your organization.

Download template

Create a payment run

Payables > Payment Assistant

Now that the setup and preparation is complete, you're ready to create the payment run.

1. From Payables, select Payment Assistant.

2. From the Payment runs tab, select New.

3. If you’ve set up multiple bank accounts in Payment Assistant, select the one you want to use to pay invoices.

Identify vendors to pay

Payables > Payment Assistant

Your first payment run is a learning experience. Choose vendors who don’t have a payment due in the next 10 business days. Look for invoices with due dates further out so you have time to learn and practice using Payment Assistant.

Use real vendors with real invoices. Avoid test vendors or small payment amounts — such as $0.50 — which may be flagged as low priority and not treated like a standard payment run.

1. From the new payment run, sort invoices by the Due date column to find those with later payment dates. If you don’t see the column, select Columns to add it.

2. Browse the list and select a few invoices you’re comfortable paying.

Tip: If any invoices are missing key vendor or invoice details, a link appears in the Action needed column. Select the link to enter the missing information.

Submit payment run for approval

Payables > Payment Assistant

After selecting invoices to pay, you’re ready to submit the payment run for approval.

1. Select Pre-payment report to check for distribution errors. If you find any, update the invoice before submitting the payment run.

2. Select Submit for approval.

An email is sent to approvers listed in the Approval tiers setup. Approvers also see an in-product notification when they sign in to Financial Edge NXT.

You can track the payment run’s progress from the Payment run record.

Approval process overview

After you submit a payment run for approval, the approval process begins.

Notification order

Email and in-product notifications are sent in the order of the approval tiers.

1. When you select Submit for approval, notifications are sent to approvers in the first tier.

2. After the final Approve is selected for the first tier, notifications are sent to the second tier.

3. Once all tiers approval requirements are met, the person who submitted the payment run is notified, and the payment run status updates to Approved – Awaiting funds.

4. After the payment run status is updated to approved, REPAY contacts the vendors to determine their preferred payment method.

   Once a vendor is enrolled with REPAY, payments are issued automatically according to their selected payment method — no further communication is required.

After the payment run is approved, REPAY contacts vendors to enroll them in Payment Assistant and confirm their preferred payment method. Once a vendor is enrolled with REPAY, payments are issued automatically based on their selected method — no further setup is needed.

Note: Payment communications are customized to the payment method.

Summary

Congratulations! You've created a payment run, it's approved, and sent to REPAY for payment processing. You're now ready to track the payment run.

Payment run record

From Payables, Payment Assistant, select the link in the ID column to open the payment run record.

• Under Overview, review the run's status, including the number of payments paid and outstanding. You can also view the run approver and a brief history.

• Under Payments, track the status of each payment using the Payment status . You can also customize the information that shows for each payment by selecting and sorting columns.

Bank draft record

From the Payment run record, Payments tab, select the link in the ID column to open the bank draft record. Use the Payment Assistant tile on the bank draft record to view payment status. When paid, download the payment confirmation and confirm which payment method the vendor chose.