How are my invoices paid?

Vendors may require automatic payments or offer flexible payment options. The way a vendor is paid - known as a payment type - is dependent on the vendor's requirements and your subscription level. Access the portal's Plans and Billing page or click here: Compare Subscription Plans.

Automatic Payment Vendors

Vendors whose invoices are automatically scheduled for payment upon receipt, based on the invoice due date and payment terms.

• Alcohol vendors always require automatic payment, even for non-alcohol products.

• Some non-alcohol vendors may also require automatic payment.

• Invoices must be paid in full on their due date. Short-paying and payment scheduling is not included.
  

• EFT (Electronic Funds Transfer) is the only payment type these vendors support:

  • Fintech receives the invoice and automatically schedules payment based on its due date and payment terms.
    

  • Funds are transferred from your bank account to the vendor's account on the scheduled payment date.

  • Payment status can be tracked in the Fintech Portal. Learn more here: Monitoring Invoices.

Digital Invoices and Flexible Payment Vendors

Non-alcohol vendors that offer electronic invoice delivery and/or flexible payment options. Available features depend on your plan.

Premium (Digital Invoices Only)

• Vendors send invoice data electronically to Fintech, creating a digital invoice in the portal and reducing manual invoice entry.
  
• Invoices must be paid in full on their due date. Short-paying and payment scheduling is not included.

Premium Plus Plan (Digital Invoices and Flexible Payments)

• Digital invoices can be created by:
  • Vendors sending invoice data electronically to Fintech, creating a digital invoice in the portal and reducing manual invoice entry.
  • Users uploading non-alcohol invoices to the portal: Uploading and managing non-alcohol invoices
• Depending on the vendor's terms, invoices can be scheduled for payment and may be eligible for short-pay. 
• Payment status can be tracked in the Fintech Portal. Learn more: Monitoring Invoices.
  

• Available payment types include:

• • ACH - Electronically transfers funds from your bank account to the vendor's bank account through the Automated Clearing House (ACH) network. Requires the vendor's banking information.

  • Check - Upon request, Fintech generates and mails a check to the vendor on your behalf.
    

  • Pay Outside of Fintech - Payments are made to the vendor outside of Fintech, but can be tracked within the portal.
    

    💡 Learn more about these payment types: Setting up payment preferences for non-alcohol invoices.