What are Batch Payments

A batch payment enables payers to pay for multiple invoices issued by a Wise-Pay merchant in a single payment transaction. You can also pay a lump sum amount against a set of invoices and adjust the amount within the selected invoices. This lump sum amount may be less than or more than the total outstanding amount of all selected invoices.

The following are some important points related to batch payments:

• Batch payments can only be made through credit cards. The bank transfer options will be added in the future releases.
• This feature is only available for invoices for which no payment has been made. This means, you cannot include those invoices for which a part-payment has already been made.
• The invoice that is included in one batch cannot be included into another batch for payment

Consider the following example for details:

Example

ABC corporation issues the following three invoices to its client XYZ infotech:

The payer at XYZ has the following options with batch payments:

• Full payment: Pay the total amount ($2500) to settle all invoices. The paid invoices would clear through the clearing account.
• Partial payment: Pay an amount less than the total amount (say $1500) and adjust it among different invoices, such as $900, $100, and $500. This will settle invoices #1 and #3, and the outstanding payment for invoice #2 will be $1000. This way, two out of the three invoices would be paid by adjusting the lump sum amount among three invoices. The paid invoices would clear through the clearing account.
• Over payment: Pay an amount more than the total amount (such as $3000) to fully pay all the invoices and generate an overpayment of the balance amount of $500. An overpayment invoice and a credit note of the overpayment amount will automatically created in the accounting package with name same as the reference number of the overpayment. You can apply this credit note against any invoice from the same company. The paid invoices will clear through the clearing account. You can view the overpayment record in Wise-Pay.