Purpose
This article provides a comprehensive guide for customers on how to pay vendor bills directly within the Procurify platform. It covers the two primary methods for funding payments: using a pre-funded Procurify Financial Account and paying directly from a Linked Bank Account via direct debit.
Prerequisites
Before you can pay bills in Procurify, please ensure the following conditions are met:
The Bill Pay feature has been enabled for your Procurify domain.
You have the appropriate user permissions to access the Pay Bills module and prepare payments.
The bills you intend to pay have been approved and are listed in the Ready for Payment tab.
For payments from a Procurify Financial Account: Your account must be pre-funded with a sufficient balance.
For payments via Direct Debit: At least one external bank account must be successfully linked to Procurify.
Introduction: Streamlining Your Accounts Payable
Procurify's Bill Pay feature completes your procurement and spending lifecycle, offering a secure and efficient way to pay vendors directly within the platform. This integration provides a comprehensive, end-to-end view of your spending, from initial request to final payment.
This guide will walk you through the two methods you can use to pay your bills.
Method 1: Paying from a Procurify Financial Account
Method 1: Paying from a Procurify Financial Account
This method involves using funds that have been transferred in advance from your external bank account into your Procurify Financial Account. It is an excellent option for teams that want to operate from a dedicated, pre-approved budget for payables.
Step-by-Step Instructions
Navigate to the Pay Bills Page. From the left-hand navigation menu, click AP and select Pay Bills. You will see a list of all bills that have been approved and are ready for payment.
Select and Group Bills for Payment. Locate the bills you wish to pay. If you have multiple bills for the same vendor, you can group them into a single payment to simplify reconciliation for both you and your vendor.
Check the box next to each bill you want to include in the payment.
Once selected, click the Prepare Payment button.
Configure Payment Details. On the Prepare Payment screen, you will need to fill out the following fields:
Payment Source: Select Procurify Financial Account from the dropdown menu. The system will display the available balance.
Payment Type: Choose the desired payment rail.
For US Customers: You can select ACH, Wire, or Check. The processing and delivery times will vary based on your selection.
For Canadian Customers: EFT (Electronic Funds Transfer) is the available option.
Payment Method: Select the vendor's pre-configured bank account information. This dropdown is populated based on the Payment Type you selected and the payment methods saved for that vendor. If this field is empty, you must first add a matching payment method to the vendor's profile.
Processing Date: Select the date you want the payment to be initiated.
Submit for Approval.
Select the appropriate Approval Group for the payment.
Choose a specific Approver from the list.
Review all details for accuracy and click Submit for Approval.
Once the designated approver approves the payment, the funds will be sent from your Procurify Financial Account to the vendor on the scheduled Processing Date.
Method 2: Paying via Direct Debit (from a Linked Bank Account)
Method 2: Paying via Direct Debit (from a Linked Bank Account)
Direct Debit offers greater flexibility by allowing you to pull funds directly from a linked external bank account at the time of payment. This method eliminates the need to pre-fund your Procurify account and can simplify your cash flow management.
Prerequisite: Linking Your Bank Account
Before making a payment with Direct Debit, you must link an external bank account. To do this:
Navigate to Settings in the left-hand menu.
Under the Payments section, click Manage Linked Bank Accounts.
On this page, you can view existing linked accounts or click the Link Bank Account button to add a new one.
Step-by-Step Instructions
Navigate and Select Bills. Follow steps 1 and 2 from Method 1 to navigate to the Pay Bills page, select the bill(s) you wish to pay, and click Prepare Payment.
Configure Payment Details. On the Prepare Payment screen, configure the following:
Payment Source: Select Linked Bank Account from the dropdown menu. This tells the system to use the Direct Debit feature.
Linked Account: Choose the specific linked bank account you want to pull funds from.
Payment Type & Method: As in the first method, select the appropriate Payment Type (e.g., ACH) and the corresponding vendor Payment Method.
Processing Date: Set the date for the payment to be initiated.
Important Note on Limits: Direct Debit payments are subject to a daily payment limit. While you can schedule multiple payments for a single day, their combined total cannot exceed this limit. If you reach the daily limit, you must schedule any additional payments for the following business day.
Submit for Approval.
Select the Approval Group and Approver.
Click Submit for Approval.
Once approved, the payment process will be initiated on the scheduled Processing Date. The funds will be pulled directly from your selected linked bank account and sent to the vendor.