Payment Statuses and What They Mean

Payments in Float move through a series of stages from scheduling to completion. Each payment status reflects where the payment is in the process and whether action is required. This article explains what each status means and what to do next. To understand how payments progress overall, see: Payments Page Overview.

Guide Overview

Bill Pay and Reimbursement Page Status Table Summary

Payment Status Table Summary

Bill Pay Page Statuses Explained

Reimbursement Page Statuses Explained

Payment Statuses Explained

Bill Pay and Reimbursement Page Status Table Summary

Payment Status Table Summary

Bill Pay Page Statuses Explained:

Draft

In this state, you can:

• Review and edit bill details (recipient, GL Codes, tax codes, etc.)
• Select or change the Approval Policy
• Set or change the funding source
• Submit the bill for approval

Pending Approval

Approvers can:

• Review the bill's details

• Approve the bill, moving it to the Unpaid tab

• Decline the bill, sending it back to Drafts for revisions

Missing Payee Details

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

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

For more details, see: Managing Recipients and their Payment Details for Bill Pay + FAQs

Missing Payment Date

You can schedule a payment date for an invoice.

•  Schedule payment for a single bill:
  1. Navigate to Bill Pay > Go to Unpaid
  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 Scheduled tab and can be actioned from the Payments page
• Schedule batch payment for multiple bills:
  1. Navigate to Bill Pay > Go to Unpaid
  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 Scheduled tab and can be actioned from the Payments page

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

Marked as Paid

The payment was manually marked as paid in Float.

For more details, see:

Marking Bills as Paid or Unpaid

Reimbursement Page Statuses Explained:

Ready to Review

You can review the approved report.

• Review and confirm a single Reimbursement report:
  1. Navigate to Reimbursements > Ready to Review
  2. Select a report and review the details
  3. Select "Confirmed Ready" or "Export and Review"
  4. Once confirmed, the report will move to the Unpaid tab and can be scheduled for payment
• Review and confirm multiple Reimbursement reports:
  1. Navigate to Reimbursements > Ready to Review
  2. Use the checkboxes to select multiple reports
  3. Select "Confirmed Ready" 
  4. Once confirmed, the reports will move to the Unpaid tab and can be scheduled for payment

Missing Payment Date

You can schedule a payment date for a report.

•  Schedule payment for a single report:
  1. Navigate to Reimbursements > Go to Unpaid
  2. Open a report
  3. Select the "Set Payment Date" button
  4. Once a payment date is set, the report will automatically move to the Scheduled tab and can be actioned from the Payments page
• Schedule batch payment for multiple reports:
  1. Navigate to Reimbursements > Go to Unpaid
  2. Use the checkboxes to select multiple reports
  3. A toolbar will appear at the bottom
  4. Select the "Set Payment Date" button
  5. Once a payment date is set, the selected reports will move to the Scheduled tab and can be actioned from the Payments page

For more details, see: Managing Reimbursement Payments & FAQ

Missing Bank Details

An Administrator can add a spender's bank details, or the spender can add their own bank details.

• Adding a spender's bank details as an Administrator:
  1. Navigate to Users > Search and select the user you want to add banking information for 
  2. Navigate to "Connect Bank" section > click "Edit"
  3. A verification code will be sent to your email address with the subject line "Elevated Access Request" > Enter the verification code 
  4. Enter the user's institution, transit, and account numbers > click "Connect Account"
• How Spenders can add their own bank details:
  1. Navigate to Settings > Profile 
  2. Sign in to your bank via Plaid to instantly connect your account, or choose Manually Connect Account to enter your banking details.

For more details, see: How to Add Your Personal Bank Details to Receive Reimbursement Payments

Marked as Paid

The payment was manually marked as paid in Float.

For more details, see:

Marking Reimbursements Reports as Paid/Unpaid

Payment Statuses Explained:

Authorization Required

An Administrator needs to give funds release approval for the payment to begin processing on the scheduled date.

To do so:

1. Navigate to the Payments page
2. Go to the Needs Authorization tab
3. For batch funds release approval:
   • To give funds release approval for all payments in this tab, select the "Authorize All Payments" button below the CSV download button
   • To give funds release approval for a select number of payments in this tab, use the checkboxes to select multiple payments > Select the "Authorize All Payments" button at the bottom of the page
4. For single-payment funds release approval:
   • Select the "Authorize" button to the right of the payment

For more details, see: How to Give Funds Release Approval

Authorization Overdue

The payment was scheduled, but funds release approval was not given by an Administrator before the scheduled payment date.

Action required:

• The payment needs to be rescheduled for payment
• An Administrator will need to give funds release approval before the rescheduled payment date

To do so: 

1. Navigate to the Payments page
2. Go to the Needs Authorization tab
3. Select the ellipses to the right of the Authorize button for a payment > Select the "Reschedule" button
4. Schedule a new payment date for the payment
5. Once rescheduled, an Administrator needs to give funds release approval by selecting the "Authorize" button to the right of the payment

Withdrawal Pending

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

Payment Initiated

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.

Note: Payment statuses update as soon as a change happens on our end. If you already had the Payments page or a payment's details open, refresh the page (or reopen the payment) to see the latest status.

Bill Pay payment processing considerations:

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.

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

Send Money payment processing time:

• For a scheduled payment to begin processing, funds release approval must be given before the scheduled payment date
• The cutoff time for same-day payments to begin processing is 12 pm ET. If you schedule a Send Money payment after the cutoff time, the payment will begin processing the next business day.

Payment Sent

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

Bill Pay payment considerations:

• After Float sends the payment, the recipient's bank may apply additional processing time before depositing the funds into the recipient's 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 recipient still hasn't received the funds, and the bill status is still showing as "Payment Sent" in Float, please reach out to Support@floatfinancial.com.

Payment Paused

The payment processing has been paused. To determine the reason for the pause and resume the payment, please reach out to Support at support@floatfinancial.com.

Payment Failed

The payment was unsuccessful, and the funds have either already been returned to your funding source or are in the process of being returned. Review the reason for the failure and make the necessary changes before resubmitting the failed payment.

For more details, see:

Handling and Retrying Failed Payments

Cancelled

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