Bill Payment Sync Timing Configuration

Bill Payment Sync Timing Configuration

• Bill payment synchronization timing settings allow users to choose when payments synchronize with ERP systems (NetSuite or QBO).
• Options include:
  • When Payment Received by Vendor: Synchronization occurs only after the vendor confirms receipt and the status changes to "Paid".
  • When Payment Sent: Synchronization happens as soon as the payment leaves the bank account (scheduled date). This offers better control and accuracy.
• Configuration flexibility minimizes accounting discrepancies.
• Supported payment methods: Direct Debit and Checks. Offline/Masav methods have different timings.
• To configure the sync timing:
  • Navigate to Settings > Custom Configurations.
  • Select the preferred option (When Payment Sent or When Payment Received by Vendor).
  • Click Apply to save the settings.

Troubleshooting and Internal Notes

• Default settings: Existing customers (prior to January 2025) default to "When Payment Received by Vendor," while new customers (after January 2025) default to "When Payment Sent".
• Payment failure after synchronization: If a payment fails after synchronization due to the "When Payment Sent" setting, manual updates to the ERP system are needed. This ensures accuracy in accounting records.
• Changing the sync timing setting after a payment has already been sent: Changes in this setting will not affect payments already processed. The payment will synchronize with the ERP system only when the vendor confirms receipt and the status changes to "Paid".
• Verification recommendations: For system verification, review payment dates and system logs. Inform customers that this change does not impact already initiated payments.

This quiz focuses on the settings for bill payment synchronization within ERP systems like NetSuite or QBO. Explore the options for synchronizing payments when received by vendors or when sent to gain better control and minimize accounting discrepancies. Test your knowledge on the configuration process and payment methods supported.