Skip to main content

Bill Pay Invoice Statuses and What They Mean

  • Updated

Float Bill Pay has five workflow stages that each bill progresses through, and every bill also has a Bill Status that tells you exactly what is happening with that bill at any moment. This article explains what each status means and the required action to process the bill to the next stage of the workflow. For details on each stage of the workflow, see: Bill Pay Workflow from "Draft" to "Paid".

 

Through every stage of the workflow, bills will have different statuses. See a summary of all bill statuses below:

Bill Status Table Summary
Status What It Means Next Action Bill Location (Workflow stage)
Draft Bill uploaded to Float but not submitted for approval. This is the only state a bill can be edited  Review and update the bill details and submit for approval Drafts
Pending Approval Bill submitted for approval and waiting for approver(s) action Approver must approve or decline the bill Approvals
Missing Payee Details Vendor's payment details are missing Add vendor payment details Unpaid
Missing Payment Date Payment date has not been selected Choose a payment date Unpaid
Authorization Required Bill is scheduled but needs Admin to authorize funds release Admin must authorize the release of funds Payments
Withdrawal Pending Payment scheduled for a future date and authorization has been given No action Payments
In Progress Payment is processing No action Payments
Completed Float has sent the payment to the vendor's bank No action. Can send payment confirmation to vendor Payments
Marked as Paid The bill was manually marked as paid in Float No action All Bills
Reversed Payment failed and the funds have been returned Review the reason for the failed payment Payments
Cancelled Payment was cancelled by Float Reach out to Float at support@floatfinancial.com Payments

 

Bill Statuses Explained:

Draft

In this state, you can:

 

Pending Approval

Approvers can:

 

Missing Payee Details

You can add a vendor's payment details in two ways:

  1. Select "Manage Vendors" > Select the vendor and add all of the payment details > Save
  2. Open a bill and select the "Add Payment Information" button for the vendor > Add the payment details > Save

For more details, see: Managing Vendors and their Payment Details for Bill Pay

 

Missing Payment Date

You can schedule a payment date for an invoice.

  •  Schedule payment for a single bill:
    1. Navigate to the Bill Pay page > Go to the "Unpaid" tab
    2. Open the bill
    3. Select the "Set Payment Date" button
    4. Once a payment date is set, the bill will automatically move to the "Payments" tab
  • Schedule batch payment for multiple bills:
    1. Navigate to the Bill Pay page > Go to the "Unpaid" tab
    2. Use the checkboxes to select multiple bills
    3. A toolbar will appear at the bottom
    4. Select the "Set Payment Date" button
    5. Once a payment date is set, the selected bills will move to the "Payments" tab and be processed together in one batch withdrawal

For more details, see: How to Schedule, Reschedule & Unschedule Bill Payments

 

Authorization Required

An Administrator needs to authorize the release of funds for the payment to begin processing on the scheduled date.

To do so:

  1. Navigate to the Bill Pay page
  2. Go to the "Payments" tab
  3. Use the checkboxes to select one or more scheduled bills
  4. Select the "Authorize" button to authorize the release of funds

For more details, see: Authorizing Funds Release for Bill Payments

 

Withdrawal Pending

The payment has been scheduled for a future date and will begin processing on this date.

 

In Progress

The payment has begun processing. When a payment is processing, it refers to the time it takes for the payment to be sent to the receiving bank from Float.

For same-day payment processing, the payment must be scheduled before the daily cutoff time. If the payment is scheduled after the cutoff time, processing will begin on the next business day.

Funding Source Cutoff Time 
(business days)

When Payment Will Begin Processing*

 Float Processing Time** Receiving Bank Processing Time***
If scheduled before cutoff If scheduled after cutoff
Float Cash Balance 12:00 pm ET Same business day Next business day 1-2 business days Up to 1-3 business days
Connected Bank Account 5:00 pm ET Same business day Next business day 3-5 business days Up to 1-3 business days

For more details, see: Bill Payment Processing Times and Cutoffs

 

Completed

When a bill payment shows as "Completed" in Float, this indicates that Float has successfully sent the payment to the vendor's bank - not that the vendor has received the funds in their account.

After Float sends the payment, the vendor's bank may apply additional processing time before depositing the funds into the recipients account. This processing time varies depending on the receiving bank and can take up to 1-3 business days.

For more details, see: Bill Payment Processing Times and Cutoffs

If it has been over 5 business days, the vendor still hasn't received the funds, and the bill status is still showing as "Complete" in Float, please reach out to Support@floatfinancial.com.

 

Marked as Paid

The bill was manually marked as paid in Float. For more details, see: Marking Bills as Paid or Unpaid

 

Reversed

The payment was unsuccessful, and the funds have been returned to your funding source. Review the reason for the failure and make the necessary changes before resubmitting the reversed payment.

For more details, see: Handling Reversed / Cancelled Bill Payments

 

Cancelled

The payment was cancelled by Float. For details as to why, please reach out to Support@floatfinancial.com.

Related articles