This article covers common Accounts Payable payments questions for Reimbursement and Bill Pay payments.
FAQ Directory
Bill Pay FAQs
Why are bank-funded payments slower?
How do I send a payment confirmation to a vendor?
What will the vendor see when receiving the payment?
When a payment is processing, when will the funds be debited from my Float Cash balance?
Reimbursement FAQs
Is there a minimum amount requirement for Reimbursement payments?
Can I send a Reimbursement payment confirmation to a spender?
AP Payments FAQs
Is there a fee for sending a payment?
Which roles can authorize payments?
What happens if funds aren't authorized before the payment date?
Can I reschedule a failed or cancelled payment?
Will failed payments affect our business's credit?
Why is a payment's status "Payment Sent" in Float, but the vendor hasn't received the funds yet?
Bill Pay FAQs
Why are bank-funded payments slower?
Bill payments from your Float Cash balance are faster because funds are pre-loaded. Bill payments from connected bank accounts depend on the standard EFT or ACH network, which is slower and controlled by external banks.
See: Bill Payment Processing Times and Cutoffs
How do I send a payment confirmation to a vendor?
Share a live tracking link:
- Navigate to Bill Pay > Payments
- Select the three-dot menu next to the bill > Select "Share Payment Confirmation (web link)" > This will open a live, shareable confirmation page in a new tab
Download and share a PDF confirmation:
- Navigate to Bill Pay > Payments
- Select the three-dot menu next to the bill > Select "Download Payment Confirmation (PDF)"
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 receiving 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
When a payment is processing, when will the funds be debited from my Float Cash balance?
If the funding source for a Bill Pay payment is your Float Cash balance, when the payment is processing (payment status updated to "In Progress"), there is no specific time as to when the funds will be debited from your Float Cash balance. The funds can be debited at any time during the payment processing period of 1-2 business days.
Reimbursement FAQs
Is there a minimum amount requirement for Reimbursement payments?
Yes, the reimbursement amount must be a minimum of $1.00 (CAD/USD) in order for the payment to be scheduled.
If you are sending a test payment, please ensure that the amount is over $1.00; otherwise, you will run into an error.
Can I send a Reimbursement payment confirmation to a spender?
Yes. A payment confirmation link can be used to send to a spender.
How to send payment confirmation:
- Navigate to Payments > Complete or All Payments tabs
- Select the ellipses next to the Reimbursement payment > Select "Share Payment Confirmation" > This will open a live, shareable confirmation page in a new tab
AP Payments FAQs
Is there a fee for sending a payment?
-
Reimbursement payments:
- EFT (CAD): No fee
- ACH (USD): No fee
-
Bill Pay payments:
- EFT (CAD): No fee
- ACH (USD): No fee
- Wire Transfers (USD): $20
For more details, see: Bill Pay and Reimbursement Fees
How long do payments take?
Reimbursement payments:
- Reimbursement payments typically arrive in 1 business day after the payment is released.
Bill Pay payments:
-
From Float Cash Balance:
- Payments typically take 1-2 business days to send to your vendor
- Payments must be scheduled before 12 PM ET for same day processing
- The receiving bank may apply additional processing time before depositing the payment into the recipient's account
-
From Connected Bank Account:
- Payments generally take 3-5 business days to send to your vendor
- Payments must be scheduled before 5 PM ET for same day processing
- The receiving bank may apply additional processing time before depositing the payment into the recipient's account
- Payments from Connected Bank Accounts are available to Professional plan and Enterprise plan customers only
Which roles can authorize payments?
Only the Primary Administrator and Administrators can authorize funds to be released for payments.
See: How to Authorize Accounts Payable Payments
How are payments processed?
Float groups all scheduled payments by day and currency into a single batch withdrawal. Even if you make 10 payments, your bank will only see one transaction.
What happens if funds aren't authorized before the payment date?
If the payment date passes and the funds haven't been authorized for release, the bill will be marked as "Authorization Overdue". Admins will need to reschedule the payment date and authorize the release of funds before the new payment date.
Can I reschedule a failed or cancelled payment?
You are able to reschedule failed Reimbursement payments. It is not possible to reschedule failed Bill Pay payments.
Reimbursement payments:
- Reimbursements can fail for various reasons, and it's important to resolve the failure reason before rescheduling the payment
- For details, see: Handling Unsuccessful Reimbursement Payments
Bill Pay payments:
- It is not possible to reschedule payment for a reversed or cancelled bill. A new bill will need to be created and scheduled for payment
- For details, see: Handling Unsuccessful Bill Payments
Will failed payments affect our business's credit?
No. Float does not report to credit bureaus. Failed or cancelled payments do not impact your business’s credit rating.
Why is a payment's status "Payment Sent" in Float, but the vendor/spender hasn't received the funds yet?
When a payment shows as "Payment Sent" in Float, this indicates that Float has successfully sent the payment to the beneficiary bank - not that the vendor/spender has received the funds in their account.
After Float sends the payment, the beneficiary bank may still need additional processing time before sending the funds to the vendor/spenders bank account. This processing time varies depending on the receiving bank.
For Bill Pay payments, if it has been over 5 business days and 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.
For Reimbursement payments, if it has been over 3 business days and the spender still hasn't received the funds, and the payment is still showing as "Complete" in Float, please reach out to Support@floatfinancial.com.