Bill Payment Modes and Process

Payment Modes :

A. Mark as Paid (Cash , Credit Card , Bank Account, Advance Settlement , Vendor Credit)

B. Inter-Account Transfers

How to Enable Inter-Account Transfers

A. Mark as Paid (Cash, Credit Card, Manual Check, Bank Account, Advance Settlement, Vendor Credit)

Docyt supports the following payment methods for marking invoices as paid:

1. Cash

If the invoice was paid in cash:

1. Select Cash from the dropdown.

2. Enter the payment date in the pop-up window.

3. Click Mark as Paid to record the transaction.

2. Credit Card

If the invoice was paid via credit card:

1. Select Credit Card from the dropdown.

2. Choose the appropriate card and enter the payment date.

3. Click Mark as Paid to confirm.

3. Manual Check

If a check was used for payment:

1. Select Manual Check.

2. Enter the payment date, bank account, and last four digits of the check.

3. Click Mark as Paid.

4. Bank Account (ACH/Debit Card)

If the payment was made via ACH or debit card:

1. Select Bank Account (ACH/Debit Card).

2. Enter the relevant payment date and account details.

3. Click Mark as Paid.

5. Advanced Settlement (Inter-company Payments)

Used for internal company settlements without making an actual payment:

1. Select Advanced Settlement.

2. In the dialogue box, enter the settlement date (typically the last day of the month).

3. Choose the corresponding Balance Sheet Payable Account for the other business.

4. Click Confirm to complete the settlement.

6. Vendor Credit

Used when applying a vendor credit to settle the invoice:

1. Select Vendor Credit.

2. This will generate a $0 bill payment, reflecting that the invoice was cleared using existing credit.

5. Inter Account Transfer

Inter-account transfers allow businesses under the same management group to seamlessly move funds between different business or accounts of those businesses using Docyt. These accounts can include:

1. Bank accounts/Internal business bank accounts listed under Financial Connections or All Transactions in the Business section

2. Vendor payables/Bank accounts linked to vendors

3. Employee reimbursements/Accounts linked to employees

Note : ACH should be active for both the accounts in order to initiate a transfer.

How To Make Payments by Inter-Accounts

Enable Inter-Account Transfers

To enable inter-account transfers for a management group:

1. Go to the “Business” module.

2. Navigate to Financial Accounts > All Accounts.

3. Click on the three dots menu (…) on the right side of the desired account.

4. Toggle the Inter-Account Transfer status:

   1. Green icon: Enabled

   2. Grey icon: Disabled

5. Click on Enable Inter-Account Transfer option from the drop down

6. A window will appear to fill in the bank details

7. Enter the bank details(last four digits of account) and click on save and send micro-deposits.

8. Fill in the micro-deposit amount to verify and click on ‘Verify Transaction’

1. The status icon change from grey to yellow, and hovering over it should display: "Deposit verification is pending to enable inter-account transfer."

2. Once the micro deposit is completed it will display a success message "Micro deposits have been successfully verified. Your bank account is now enabled for inter-account transfers."

1. Bank account status icon changes to green.

2. Users will only see accounts available for transfer if ‘Inter-Account Transfer’ is enabled for those accounts and for the listed primary account under payment method .