AVAILABILITY

The ability to auto-release a payment is available to all the customers using Beanworks payment module to pay their vendor invoices. To learn more email beanpay@beanworks.com or read here.

PRE-REQUISITE

  • Your company / legal entity is enabled for a payment method.

  • Vendor(s) is enabled for at least one payment method.

  • Invoices for the vendor you want to pay has been successfully exported into your accounting system.

BENEFIT

  • You can save time by setting the payment as auto-release, since you will not have to manually release the payment.

HOW IT WORKS

STEP 1: Setup a payment to be auto released

The payment needs to be setup for auto release when you are creating the payment and adding the payment details. A payment can be set for auto release only at the payment details level and when the payment is in [IP] status. Select the auto-release option at the payment header.

STEP 2: Select the payment due date

Select the due date you want the payment to be released from the system. Please note, this date is when the payment information will be send to the payment partner for the payment to be processed and not when the vendor will receive the payment.

Select the due date from the date picker.

Below is an example of the due date selected.

Please note, the payment has to be approved a day prior to the payment due date.

Payments set for auto release are sent out at 5:00 AM PST on the day it was set to be released.

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