Set Up Default Payment Settings

Once a Supplier creates a Username and Password, the Default Payment Settings page displays.

Users with the correct permissions use the Default Payment Settings page to set the preferred timing for early payment of invoices. This early payment timing only applies to invoices in an early payment program.

1. Select Default Payment Settings.

   Note: You must schedule payment to be after the current date and no later than the Full Term Date.

   Choose from:

   • Calendar Days After Invoice Date
     A user selects the setting and enters the number of days after the Invoice Date when the payment is expected.

     Examples:

     1. If the Buyer uploads an invoice the day it is submitted, and the Supplier expects payment 10 Calendar Days After Invoice Date, the invoice is scheduled for 10 days later.
     2. If the Invoice Date is 14 days in the past when the Buyer uploads it, and the Supplier expects payment 10 Calendar Days After Invoice Date,the invoice is automatically scheduled for the first eligible payment date.

        Note: If a user selects a number that is too small or too large to apply, invoice payments are scheduled for either the first eligible date or the Full Term Date.

   • Calendar Days from the Month End of the Date of the Invoice
     A user selects the setting and enters a number of days following the last day of the month when the payment is expected. This means the Supplier receives the payment the month after the invoice is received.

     Example: If an invoice is received on July 1 and the Supplier is configured for payment 20 Calendar Days from the Month End of the Invoice Date, the invoice is automatically scheduled for payment by August 20 unless the Full Term Date is earlier.

   • Manual Scheduling
     A user selects the setting to schedule an individual invoice for payment on its Full Term Date.

     Important: To receive payments early when using the Manual Scheduling default, a user must select the invoice and use the Reschedule Individual Invoice feature to choose a payment timing. See Edit an Invoice’s Payment Schedule.

2. Select Apply this setting to all scheduled but unpaid invoices to schedule payments for all invoices that are eligible for scheduling.

   Note: Existing invoices will be rescheduled when the page is saved if it is possible to change the date.
   Example: The payment timing for an invoice will not change, if it is already scheduled for payment on the earliest possible date (meaning the invoice will be sent for funding in the next batch to the Funder) and the default timing applied would have been earlier.

3. Agree to the terms of service.
   The first time a Supplier uses the Default Payment Settings page, the user must select the agreement. This indicates the organization agrees to the Terms and Conditions and the Funding Statement.
   • These documents may be reviewed at any time using the links provided at the bottom of the page.
   • Not ready to accept the Terms and Conditions? Select the Cancel button at the bottom of the page.

Users can return to the Default Payment Settings page at any time to change the default payment timing. Settings are applied to new invoices when they are added. When a user selects the Apply this setting to all scheduled but unpaid invoices setting, the Default Payment Settings are immediately applied to all invoices that are still eligible for payment scheduling.

Related Topics

Select Payment Settings

Edit an Invoice’s Payment Schedule