This article covers the most frequently asked questions for the Send Money feature.
Frequently Asked Questions (FAQs):
Can I add line items to a Send Money payment?
How many attachments can be added to a Send Money payment?
What’s the maximum attachment size?
Can I upload an invoice to fill in a Send Money payment automatically?
What file types can I upload to a Send Money payment?
When will funds be removed from my Cash balance?
Will Send Money payments sync to my connected accounting software?
How is Send Money different from Bill Pay?
How do Send Money Recipients Relate to Bill Pay Vendors?
Can I add line items to a Send Money payment?
No. It's not possible to add line items (GL codes, Tax Codes etc.) to a Send Money payment.
How many attachments can be added to a Send Money payment?
There isn't a set limit on the number of attachments that can be added to a Send Money payment.
What’s the maximum attachment size?
The maximum attachment size is 20 MB.
Can I upload an invoice to fill in a Send Money payment automatically?
Yes. The first step in the Send Money workflow gives you the option to upload an invoice instead of searching for or adding a recipient manually.
Once you've selected the invoice from your device, Float extracts the recipient's details, payment amount, payment date and pre-fills the payment details for you. Everything it pulls in can be edited, so you can verify the information before saving the details. This doesn't create or sync a bill in Bill Pay, it only speeds up entering a Send Money payment and attaches the document to it for your records.
What file types can I upload to a Send Money payment?
Acceptable file types include:
PDF files
PNG and JPG images
When will funds be removed from my Cash balance?
Unlike Bill Pay, Send Money payments will remove the funds from your Cash balance right after submitting the payment.
If you select the payment to be sent today, the funds will be debited from your Float Cash balance right away. If the same-day payment processing cutoff time has been missed, the payment will be processed on the following business day. For more details, see: Send Money Payment Processing Times, Cutoffs and Failures
Will Send Money payments sync to my connected accounting software?
No. Send Money payments will not sync to your connected accounting software. This feature will be coming later!
In the meantime, you can download your Send Money payments as a CSV and import them into your accounting software manually.
To download Send Money payments as a CSV:
- Go to the Payments page > Complete
- Filter for your desired payments
- Select the checkbox to the left of the payments you'd like to download
- Select the "CSV" button
How is Send Money different from Bill Pay?
Bill Pay and Send Money solve different problems. Bill Pay is built for paying vendor invoices, with a more detailed intake, multi-level approval, and categorization workflow. Send Money is for quick, simple payments that don't need that structure. Use whichever fits the payment in front of you, many businesses will use both.
How do Send Money Recipients Relate to Bill Pay Vendors?
Send Money has two types of recipients:
-
Individual Recipients:
- Only available in Send Money for direct payments
- Use for personal or business payments that don't need to go through the detailed Bill Pay workflow
-
Business Recipients:
- Shared and the same as Bill Pay vendors
- Adding a business recipient in Send Money will add them to the Bill Pay vendor list and vice versa
- The same applies to their payment details. If a Bill Pay vendor has existing payment details, they will be available in Send Money right away