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Reimbursement Payouts

  • Updated

Float Reimbursements streamlines the approval & payment processes. This guide covers the entire payout flow for reimbursements - from scheduling payments to managing insufficient funds, batch payments, and more.

 

Scheduling Reimbursement Payments

After a reimbursement report has been approved and reviewed, it’s ready to be scheduled for payment.

  1. Navigate to Reimbursements > Unpaid to view reports that are ready for payment
  2. Select Payment Date:
    • Open the overflow menu (three dots) on the right-hand side of a single reimbursement and click "Schedule a payment".
    • Click on a report to open it, then click the "Schedule a payment" button.
    • Use the checkboxes to select one or more reimbursement reports, then click the "Schedule a Payment” button.
  3. The report will move to the Payments tab. After the payment is completed, its status will update to "Paid" and it will be viewable from the All Reports tab.

 

Authorizing Funds Release

Administrator authorization is required to release funds for reimbursement payments.

All payments scheduled for the same date are consolidated into a single batch. This method combines multiple scheduled payments into a single withdrawal transaction from your Float balance.

To authorize funds release:

  1. As an Administrator, log into your Float account and navigate to Reimbursements > Payments.
  2. Select a payment batch and click “Authorize CAD funds release” to release the funds for the scheduled payments in that batch. This authorizes all payments in the payment group scheduled for the same day.

 

Payment Processing Times

Making reimbursement payments from your Float balance allows for faster processing times with no limits.

Payments from your Float balance typically take 1-2 business days to reach your employee's account -  4x faster than using a connected bank while your Float balance earns Yield rewards.

Float allows you to process payments of any size with no limits.

 

Handling Insufficient Funds (NSF)

If there are insufficient funds in your Float account to cover a scheduled payment, your Float Administrators will be notified that a scheduled payment has failed due to insufficient funds. To address this:

  1. Check your Float account balance from Banking > Funding and add funds if needed.
  2. After topping up, reschedule the payment from Reimbursements > Payments.

 

Marking Reports as Paid/Unpaid

Reimbursements can be marked as "Paid" if the payment wasn’t processed through Float, allowing you to issue payments externally if necessary.

Marking a Report as Paid:

  1. Navigate to the Reimbursements > Unpaid (or "Payments" for reimbursements with already-scheduled payments) and locate the previously created report.
  2. Choose one of the following methods to mark it as paid:
    • Open the overflow menu (three dots) on the right-hand side of a single reimbursement and click "Mark as Paid".
    • Click on a report to open it, then click the "Mark as Paid" button.
    • Use the checkboxes to select one or more reimbursement reports, then click the "Mark as Paid” button.
  3. The report’s status will update to "Marked as Paid" and the report will move to the "All Reports" tab.

Moving a previously "Marked as Paid report back to "Unpaid"

  1. Go to Reimbursements > All Reports and select the report.
  2. Choose one of the following methods to revert it to unpaid:
    • Open the overflow menu (three dots) on the right-hand side of a single reimbursement and click "Move to Unpaid".
    • Click on a report to open it, then click the "Move to Unpaid" button.
    • Use the checkboxes to select one or more reimbursement reports, then click the "Move to Unpaid” button.

 

 

 

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