Payment processing can be a tedious process, especially if you’re processing payments one by one. Docyt has recently enhanced its AI-powered accounting platform to allow bulk payments across multiple vendors. This allows users to quickly process payments for multiple vendors, enabling significant time savings. This blog reviews the benefits of processing payments in bulk within Docyt.
Why did we make this change?
We consistently see the need for accountants to clean out their invoice queues more efficiently and to complete payments in one bulk process. Instead of paying invoices by vendor, users can now select the payment method they desire and process all payments simultaneously, regardless of the vendor.
Docyt users no longer have to sift through invoices one by one. They can simply grab the invoices that are “Ready to Pay” and process the payments all at once, enabling significant time savings.
What are some of the key features and benefits of this update?
Selecting Invoices:
Users can choose invoices from multiple vendors, chart of accounts, or due dates as long as the desired payment method is the same. This saves accountants a significant amount of time.
Choosing a Payment Method:
Once you have selected the invoices you are ready to pay, you can select their payment method. There are a few various options such as check, ACH, and mark as paid. Whichever payment method is selected will be executed for all the selected invoices.
Processing Payments:
Docyt users can see all invoices to be paid in one table view and, from there, process all payments at once using the same payment method.
Reviewing Paid Invoices:
Once invoices are paid, users can access them from the “Paid” section of the invoice queue. From here, invoices will follow the normal accounting process, be matched to the reconciliation center, and be pushed to the ledger. This ensures a seamless experience throughout the payment process.
Start Processing Payments More Efficiently:
Start paying your vendors more efficiently today. Contact us to learn how you can save time and increase efficiency with an AI-powered accounting solution like Docyt.
