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Bill Pay - Scheduling and Vendor FAQ

  • Updated

This article covers common questions about how Float Bill Pay handles scheduling payments, processing timelines, and vendor management.

For FAQs related to making an Accounts Payable (AP) payment, see: Accounts Payable Payments Page FAQ

 

Common Questions

What payment methods does Float support?

What funding sources can be used for payments?

Can I make a partial payment or pay a bill in instalments?

Can I set up Float to automatically pull funds from my bank account and pay bills once the funds arrive in Float?

How do I send a payment confirmation to a vendor?

What will the vendor see when receiving the payment?

Can I add a credit memo to a vendor or bill?

How do I add the account number for a vendor that is longer than 12 digits?

How do I record a bill payment made with a Float card?

Can I set up recurring bill payments to the same vendor?

Can I pay off another bank's credit card statement, pay a utility bill or the CRA with Float Bill Pay?

How are exchange rates determined for international payments?

 

What payment methods does Float support?

Float supports:

  • EFT (CAD and USD):
    • CAD:
      • For domestic CAD payments
    • USD:
      • For CA-domiciled businesses to complete USD payments to CA-domiciled USD-denominated vendor banks
  • ACH (USD only):
    • For domestic USD payments
  • Wire transfers (USD, CAD and international currencies):
    • USD:
      • For USD-to-USD payments to international vendor banks
      • For USD payments to US-domiciled vendor banks
    • CAD: For CAD payments to CA-domiciled vendor banks
    • International currencies: For payments to international vendors in their local currencies
  • SEPA (GBP and EUR):
    • For international payments in GBP and EUR via the SEPA payment rail
  • Float Card
    • To track vendor payments made from a CAD or USD Float card

Note that Wire transfers require a SWIFT code. ABA routing is not currently supported. 

 

What funding sources can be used for payments?

  • Essentials plan: Pay from your Float Cash Balance

  • Professional and Enterprise plans: Pay from either your Float Cash balance or a connected bank account (CAD or USD)

See: Configuring and Choosing Bill Pay Funding Sources

 

Can I make a partial payment or pay a bill in instalments?

No. At this time, Float does not support partial payments or instalments on a single bill.

If you need to split a bill payment:

  1. Create separate bills in Float for each instalment

  2. Use the same vendor and invoice reference

  3. Add a suffix to the invoice number (e.g. INV-1001-1, INV-1001-2) to distinguish each entry

This ensures all payments are tracked separately and avoids sync issues with your accounting software.

 

Can I set up Float to automatically pull funds from my bank account and pay bills once the funds arrive in Float?

No, this isn't currently possible.

Float doesn’t support automatic top-ups triggered by bill payments. If you want to make sure your Float balance is funded ahead of a payment, you’ll need to set up your own auto-top-up rules in the Banking section. See the guide: Auto-Topups and Auto-Paydowns for more information on auto-topups.

Bill Pay also doesn’t support automatic payment triggers. You’ll need to:

  1. Manually select a payment date

  2. Have an Admin manually release the funds for the payment to go through

Both steps are required to complete a bill payment. 

 

How do I send a payment confirmation to a vendor?

Share a live tracking link:

  • Navigate to Payments > Complete or All Payments tabs
  • Select the ellipses next to the bill > Select "Share Payment Confirmation" > This will open a live, shareable confirmation page in a new tab

Download and share a PDF confirmation:

  • Navigate to Payments > Complete or All Payments tabs
  • Select the ellipses next to the bill > Select "Download Payment Confirmation"

Automatically send payment confirmations to vendors:

  • Go to Bill Pay > Manage Vendors

  • Select a vendor > Scroll to the Payment Confirmations section

  • Toggle ON and enter the vendor's email address > Click "Save"

See: Viewing and Sending Bill Payment Confirmations to Vendors

 

What will the vendor see when they receive the payment?

Vendors will see:

  • Your legal business name
  • The invoice number
  • (If supported) A reference number in the payment description

These details help vendors reconcile the payment with their records.

See: Viewing and Sending Bill Payment Confirmations to Vendors

 

Can I add a credit memo to a vendor or bill?

It is not currently possible to add a credit note to a vendor or bill. It is possible to add a credit as a line item on a bill.

How to add a credit to a bill in Float:

  • Navigate to Bill Page > Drafts > Open the bill you'd like to add a credit to
  • Select the "+ Add Line Item" button to add a new line item to the bill
  • What to add to the new line item:
    • Description: Mention that this is a credit from the vendor
    • Subtotal: Add the credit amount with a "-" sign in front of the amount to indicate the credit
    • Categorize the rest of the line item as desired
  • Scroll back up to the bill total amount and reduce it by the amount of the credit, to ensure the bill total and the total from all of the line items match
  • When ready, select the "Get Approval" button to send the bill for approval

 

How do I add the account number for a vendor that is longer than 12 digits?

Currently, Float supports a maximum of 12 digits for Canadian bank account numbers. 

If your vendor’s account number is longer than 12 digits:

  • Ask the vendor if they have an alternative payment method or account number
  • Recommend the vendor contact their financial institution for guidance or formatting instructions

In Canada, 7- and 12-digit account numbers are the standard for EFT payments. Most vendors have experience with this limitation and may already have a workaround available.

 

How do I record a bill payment made with a Float card?

Float Bill Pay gives you the ability to add a Float card as a payment method for a vendor and pay a bill with that Float card as the payment method. For more details, see: Paying a Bill with a Float Card

 

Can I set up recurring bill payments to the same vendor?

Float doesn't currently support automated recurring payments for vendor bills.

However, when you upload a new invoice on a draft bill for a vendor you've previously paid, Float will offer a shortcut:

  • You’ll see a list of previous bills for that vendor

  • You can choose to pre-populate the line items on the new bill using a past bill

  • This saves time if the bill details (like GL codes, tax codes or descriptions) are the same

  • Note: This option appears only if previous bills to the vendor used the same line item structure

Here’s what that looks like in Float:

image (2).png

 

Can I pay off another bank's credit card statement, pay a utility bill or the CRA with Float Bill Pay?

No, it is not currently possible to use a Float Bill Pay (or Float cards) to pay off the credit card statement for another bank, pay a utility bill or make a payment to the Canada Revenue Agency (CRA).

 

How are exchange rates determined for international payments?

When you pay a bill in a foreign currency, Float requests a live rate from our global payments partner at the moment the payment is prepared. That rate reflects current market conditions for that currency pair. Float adds a 1.5% conversion fee, calculated on the amount in your funding currency. You'll see the rate and the estimated total in your funding currency before you approve the payment.

Currency markets trade Sunday evening through Friday evening. Rates aren't available outside those hours, so quotes for international payments are shown on business days only.

Paying a USD bill from CAD, or a CAD bill from USD? These use Float FX instead, at 0.25%. See: What is Float FX?.

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