Under Payments> Sent you can see details around each specific payment.
The Payment Tracker helps give you and your vendor visibility into the payment timeline and estimated delivery.
Usually one additional day is added for bank processing.
Ex. You know the payment timeline for payments to this Vendor is 3 business days, on Viewpost it may say 4, as a buffer.
Relevant terms and definitions:
Payment Initiated – When you upload the payment to Viewpost
Payment Being Processed- funds have been sent to the bank or paper checks are sent to the printer.
Estimated Delivery- best projection based on mail dates for paper checks and automation for bank processing.
Waiting for funds to clear bank security - NACHA requires we hold payments before delivering them to the receiving bank. This status will usually show card between 1-3 business days.
Electronic payments timeline will show under payment details and depending on the Vendors bank.
- ACH - depends on the receiving bank timeline may take 2-3 business days
- ICL- depends on the receiving bank timeline usually takes 1-2 business days
Virtual Credit Card
- Open -not yet processed
- Authorized- Vendor has enter the card number in their merchant service provider to initiate funds
- Posted - Vendor has taken the funds for the payment. Settled
- Rerouted- Vendor did not take the card, or the full dollar amount of the card and it was rerouted as a paper check
Paper checks-
Once our check printer has processed the paper check file we receive a 1st Acknowledgement file from them, but it doesn’t update any statuses in Viewpost.
Between 8:45pm and midnight we receive a 2nd Acknowledgement file from them which confirms the payments have been mailed.
Mailed- We receive the confirmation and update the information in the Payment Tracker
- Sometimes the check printer will send us the 2nd Acknowledgement the following morning, even though the payments were mailed the previous day.
- The mailed update on Viewpost is triggered by the receipt of that file, even though the mailing could have occurred the day before, as committed.
- This is very rare, but can happen.
Undelivered
If a payment was not received by the vendors bank or there was an issue in funding or bank processing it will show a red message. Viewpost will reach out to you or the vendor to resolve.
