Payment Settings

This document will walk you through the Payment Settings tab in MakersHub.

If you are new to MakersHub and have not connected a bank account, you will not see the Payment Authorizations tab. Connect your bank account to see the Payment Authorizations tab.

Bank Accounts

This tab is where you can update your business information and add/edit your bank accounts.

Once a bill is approved and determined to be valid, it becomes a payable. This payable can then follow a separate sequence in order to be paid.

Payment Authorizations

ACH Payments

ACH Payment consists of two transactions: withdrawal of funds from your account and payment to the vendor.

We stagger our withdrawals and our payments. In case of an accidental payment, there is a window to contact our support team before the payment is completed.

Check Payments

Check payments are mailed to the customer through a processing facility. In most cases, checks will be delivered within 3-5 days. You can track the delivery and deposit of the checks under Payment Details.

Users can set the Default Lead Time for Check Payments under Payment settings. This allows users to set a minimum of Business Days prior to due date to send out checks, this feature is also available for ACH Payments. There is also the option for Schedule Payment Immediately, which will send out payments as soon as possible regardless of due date.

Payment Processing

• Default Lead Time for ACH Payments - The number of days in advance of the due date that we process the ACH payment.

• Default Lead Time for Check Payments - The number of days before the due date to process the check payment. Checks take approximately 3-5 days to arrive.

• Schedule Payment Immediately - Defaults the payment date to today’s date instead of the bill due date.

Authorization Workflow

Under the authorization workflow, you can create approval rules to have control of when bills are paid. For more information regarding setting up Approval Workflows please visit the following link: /docs/approval-workflow-examples

Key Points to Remember

• Just like approval workflows, rules are read in an “If, Unless” manner. Rules lower in the approval workflow take higher priority and can overwrite previous rules.

• Payment authorizers must have access to Payments in User Settings

Email Notifications

• Payment Authorized - Select the users to receive an email notification when a payment has been scheduled.

• Payment Processed - Select the users to receive an email notification when payment is processed.

• Payment Past Due - Toggle on for authorizers to receive an email notification when a payment is past due.