Can I pay invoices in FMS before their due date?

Manage your payments and cash flow more easily with the Early Pay feature in FMS.

What is Early Pay?

Retailers can now schedule payments for invoices earlier than their due date using the Early Pay feature.

⚠️ You must have an Administrator user role to edit a payment date.

Paying invoices on time is crucial when establishing yourself as a new retailer and developing distributor relationships. The feature can help keep deliveries on schedule and assist in managing cash flow, which is especially helpful for retailers on a credit system with a distributor.

With Early Pay, you can:

• Schedule same-day payment.
  or
• Schedule a payment from now until one day before the due date.

Invoices scheduled after the daily cutoff of 3:00 pm (EST) will be processed on the morning of the next business day. Funds will be deposited by the end of that day.

How to Use Early Pay

To edit a payment date:

1. Log in to FMS.
2. Navigate to Reports > Term and Credit Payments - Pending Activity.
3. Find and select which invoice(s) you’d like to change payment dates for.
4. Choose Pay Now or Change Payment Date using the Payment Option Toolbar:
   
   
   1. If you choose Pay Now, the system will automatically select the current date as the payment date. After clicking Process, you will not be able to edit the payment date.
   2. If you choose Change Payment Date, you can select a payment date from now until one day before the invoice’s due date and can edit this even after clicking Process:
      
5. Click Process to apply the change.

Can I track invoices scheduled via Early Pay?

Yes, you can determine if an invoice was scheduled for early payment in FMS. 

Scheduled invoices can be found in Reports > Pending Activity. Table details include Process Date (when Fintech received an invoice), Payment Date (the chosen date the invoice will be paid) and Invoice Due Date (the deadline for payment).

Compare the Payment Date and Invoice Due Date columns to determine if Early Pay was used:

Once an invoice has been paid, it will move to Reports > Bank Activity. To easily find Early Pay invoices here, group by payment date, then compare the payment date listed to the due date:

You can also view user activity and scheduling information within Tools > Security – Audit Report:

Need Help?

If you need assistance with Early Pay, contact Client Services: support@fintech.com