Accounts Payable - Invoice Payments Video Guide


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Learning Objectives:

1. Summarize how to add a bank account to a workspace.

2. Explain how to create a batch payment request.

3. Describe how to approve a batch payment request.



Video Script

Welcome to the Accounts Payable: Invoice Payments overview. In this video we will demonstrate how to connect banks accounts to a workspace and pay vendor invoices at the portfolio level.

To get started, select Setup from the welcome menu. Then, select Accounts Payable from the main menu followed by the Payments tab. Here you will see a list of the workspaces in your portfolio and the corresponding bank account status.

If your workspace is part of a portfolio, bank accounts can only be added at the portfolio level. If your workspace is not part of a portfolio, you can add bank accounts at the workspace level from the accounts payable setup page.

To connect a bank account to a workspace, click the Edit icon and select New. Then, enter the bank account details. Begin by entering a name for the bank account. Next, enter the Transit Number, Institution Number, and Account Number for the account. Then, input the Legal Name of the Account Holder. These fields will vary based on the workspace’s country. Once completed, click Save.

The bank account has now been connected to your workspace. Repeat this process to add additional bank accounts to your workspace. To revise the bank account details, select Edit. To remove the bank account from the workspace, select Delete. These options will not be available if a batch payment is in progress for the bank account.

If your workspace has multiple bank accounts, administrators will be required to select a specific bank account when creating vendor invoices. This will be covered in-depth in subsequent training videos.  

To pay for an invoice, return to the portfolio homepage and select Accounts Payable from the main menu. You can then toggle between the invoice dashboard and the payments dashboard for your portfolio. 

The payments dashboard lists all the invoices submitted for payment across your portfolio workspaces. You can conduct an all-text keyword search of the payments list using the search bar. You can also filter the payments list by workspace, status, and date. As well as sort the payments list by Batch Number, Workspace, Created Date, Status, Payment Status, and Processing Date. 

To create a new payment request, select Create a Batch. Then, select a workspace from the drop-down menu. Only workspaces with a linked bank account will appear on this list. Next, select a bank account from the drop-down menu. If the workspace has only one bank account, it will be automatically selected. 

You will then see a list of invoices pending payment for the selected bank account. Only approved invoices will be listed in this section. Check the box beside the invoices you want to submit for payment. If the invoice does not have a checkbox, it has already been submitted for payment in a previous batch.

Then, select the invoice approvers from the drop-down menu. Each approver you select must approve the payment before it is submitted. Only portfolio administrators will appear on this list. 

The Payment Date is automatically assigned by the system based on the next invoice payment period. Once completed, select either Save as Draft if the payment request is not finalized, or Send for Approval to send the payment request to the approvers.

You will now see the payment request on the payments list with the status Pending Approval. The approvers will then receive an email notification listing the invoices in the batch payment request. To approve the payment request, either click the link in the email or open the payment request from the payments list. 

You will then see the batch payment details followed by the applicable invoices. To review the details of an invoice, click on the invoice name. This will open a new window with the invoice form. After reviewing the invoices, select either Approve or Decline. 

If you select Decline, enter a reason for declining the payment. An email notification will then be sent to the payment approvers and the payment status will be changed to Draft so revisions can be made.

If you select Approve, and you are the only approver, the payment status will then be changed to approved and the invoice payment will be processed by the system. Once the payment is completed, the approvers and vendor will receive an email notification and the payment status will be changed to Paid.

You can follow the same process at the workspace level if your workspace is not part of a portfolio.

This concludes the Accounts Payable: Invoice Payments overview. For more information on the Accounts Payable feature, please refer to our user guides.

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