Reimbursement Payouts

Managing reimbursement reports in Float is easy. Floats reimbursements streamline the approval &  payment processes. This guide covers the entire payout flow for reimbursements—from scheduling payments to managing insufficient funds, batch payments, and more.

Marking Reports as Paid/Unpaid

Reimbursement reports in Float can be marked as "Paid" even if the payment wasn’t processed through Float, making it flexible for companies that handle payments externally.

Marking a Report as Paid:

1. Navigate to the Unpaid section and locate the previously created report.
2. Choose one of the following methods to mark it as paid:
   • Check the Box: Select the report(s) and click “Mark as Paid”.
   • Overflow Menu: Use the three dots on the right to mark the report as paid.
   • Within the Report: Use the “Mark as Paid” button within the report.
3. The report’s status will update to "Marked as Paid".

Reverting a Report that was marked paid, as Unpaid:

1. Go to the All Reports tab and select the report(s).
2. Choose one of the following methods to revert it to unpaid:
   • Check the Box: Select the report(s) and click “Move to Unpaid”.
   • Overflow Menu: Use the three dots to move the report to the unpaid section.
   • Within the Report: Use the “Move to Unpaid” button within the report.

Payment Processing Times for Reimbursements

You can pay reports from your Float balance; this allows for faster processing times:

• From Float Balance: Payments typically take 1-2 business days to reach your employee's account. Paying from your Float balance is 4x faster than using a connected bank, and your balance earns 4% interest.
• No Payment Limits: Float allows you to process payments of any size with no limits.

How Are Payments Processed? Payments in Float are processed in batches. For example, if you schedule payments for multiple reimbursements on the same day, Float will consolidate the total amount into a single withdrawal.

Cancelling a Reimbursement Payment

Unscheduling a reimbursement payment is simple in Float. Follow these steps to cancel a scheduled payment:

1. Navigate to the Payments Tab:
   • Open your Float account and go to the Payments tab.
2. Unschedule the Payment:
   • Select the reimbursement you wish to unschedule by clicking the report or using the overflow menu.
   • Click the "Unschedule" button.
3. Reschedule if Necessary:
   • After unscheduling, the report will move back to the Unpaid tab, where you can select a new payment date.

Authorizing Funds Release for Reimbursements

Float adds an extra layer of control by requiring authorization before releasing funds for reimbursement payments.

Steps to Authorize Funds Release:

1. Log into your Float account and navigate to the Reimbursements page.
2. Go to the Payments tab to view scheduled reports.
3. Click “Authorize CAD funds release” to release the funds for scheduled payments. This authorizes all payments in the payment group scheduled for the same day.
   
   Note: Only admins can authorize funds release

Scheduling Reimbursement Payments

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

Steps to Schedule a Payment:

1. Navigate to the Unpaid Tab: View the reports ready for payment.
2. Select Payment Date:
   • Check the Box: Select the reports and click “Schedule a Payment”.
   • Overflow Menu: Use the three dots to schedule payment.
   • Within the Report: Schedule payment directly from within the report.
3. What Happens Next: The report will move to the Payments tab, and after the payment is completed, its status will update to "Paid".

Handling Insufficient Funds (NSF)

If there are insufficient funds in your Float account to cover a scheduled payment, follow these steps:

1. Notification: Administrators will receive a notification if a scheduled payment fails due to insufficient funds.
2. Top-up Balance: Check your Float account balance and add funds if needed.
3. Reschedule Payment: After topping up, reschedule the payment in the Payments tab.

Batch Payments for Reimbursements

Float simplifies reimbursement payments by processing them in batches. This method consolidates multiple scheduled payments into one transaction, reducing the number of withdrawals from your balance.

Benefits of Batch Payments:

• Efficiency: Fewer transactions to track.
• Clarity: Simplified cash flow management.
• Convenience: Handle multiple reimbursements at once.

How to Process Batch Payments:

1. Open the Float web app and navigate to the Reimbursements section.
2. Go to the Unpaid tab and select the reports to batch pay.
3. Use the pop-up at the bottom of your screen to schedule a payment date for the batch.

Tracking Batch Payments: You can track your batch payments in the Payments tab, where you can view report status, sync status, vendor details, and expense information.