Role: ✔ Admin, ✖ Accountant, ✖ Bookkeeper, ✖ Team Manager,✖ Employee
Welcome to our guide on setting up a Payment Run! Whether you're a seasoned pro or new to this process, we're here to make it as smooth and straightforward as possible. Ready to dive in? Let’s get started and turn those payment tasks into a breeze!
1. On the Summit dashboard, go to the sidebar and click the ‘Settings’ page.
2. Upon clicking on ‘Settings’, you will land on the ‘Company’ tab. Select ‘Payment Run’. Click ‘Enable’ to define the payment run policy. You need to select the frequency of payment made for your vendor bills, either Weekly, Fortnightly or Monthly.
- If you choose Weekly, select the day of the week to process the vendor payment in a batch
- If you choose Fortnightly, select from which date would like to start scheduling the payment run for processing the vendor payments in a batch
- If you choose Monthly, you are asked to select the month's date to process the vendor payment in a batch. You can choose the last date of the month to process on the last date of each month.
3. Select ‘Save Changes’ to save your payment run policy once the frequency is selected.
Note: All bills pending approval, Approved, and Overlimit statuses will be moved to unscheduled. You need to assign and initiate the payment run for those bills. Email Notifications are sent to all admins and accountants. Please refer to this guide to learn how to assign invoices to a payment run.
Change Payment Run
1. On the Summit dashboard, go to the sidebar and click the ‘Settings’ page.
2. Upon clicking on ‘Settings’, you will land on the ‘Company’ tab. Select ‘Payment Run’ to view the current settings. Once you make the necessary payment run settings changes, click ‘Save Changes’ to update the settings.
Note: Bills assigned to payment run will be moved to unschedule, and you need to schedule it manually.
Disable Payment Run
1. On the Summit dashboard, go to the sidebar and click the ‘Settings’ page.
2. Upon clicking on ‘Settings’, you will land on the ‘Company’ tab. Select ‘Payment Run’ to view the current settings. Click ‘Disable’ to turn off the payment run feature for your vendor payments.
Note: By disabling the Payment Run, the bills associated with it will be assigned the same payment initiation date as the Payment Run date and automatically processed on that date. This action cannot be undone. For unscheduled bills, you need to schedule it manually.
If you have any questions or need further assistance, don't hesitate to reach out to us at support@summitglobal.com. We're here to support you!