We’ve introduced a Bill Payment Report to provide better visibility into how your bill payment amounts are calculated and to assist with any documentation needs. This report will give you an overview of the bill payment, a breakdown of the bill payment amount, explain how it was calculated, and list any transactions and payments involved.
Here are some key reasons why this report is helpful:
Calculation details: The report shows how the bill payment amount is calculated and lists all transactions and payments that make up the bill payment amount, making it easier for you to understand how the amount is exactly calculated by the system.
Documentation: You can use your bill payment reports for documentation purposes.
What is included in the Bill Payment Report?
The report contains three main sections:
Bill Payment Overview: This section includes essential information like payment ID, amount, cut-off date, due date, and account details.
Bill Payment Calculation: This part shows how the bill payment amount is determined. It summarizes high-level items, such as transaction amounts and incoming or outgoing payments.
Transactions and Payments List: A detailed list of all transactions and payments affecting the bill payment amount.
When is the Report Generated?
The Bill Payment Report is generated one day after the cut-off date, once the payment amount is finalized.
How do I get the Bill Payment Report?
You can access and download the PDF report from:
The Statements page, next to each bill payment item.
The Payments page is for the bill payments under the Pending Payments section.
The Card account page (similar to how you view current transaction receipts).
How is the Bill Payment Amount Calculated?
Bill payments are calculated based on booked transactions and payments made between two cut-off dates.
For example, if your account has a monthly payment frequency with a cut-off date of the 15th, any transactions or payments booked between May 16th and June 15th will be included in the bill payment due on June 15th.
The Closing Balance of the current bill payment defines the bill payment amount. If the card account has Pending Bill Payments or Requested Payouts, the total of these will be deducted from the Closing Balance amount.
The report will show this calculation breakdown and details on the first page.
What are Pending Payments or Requested Payouts?
The bill payment calculation is dynamically adjusted based on whether there are any Pending Bill Payments or Requested Payouts for your organization.
When we calculate the bill payment amount, we deduct your pending payments and add requested but processed withdrawals from the closing balance of the period and find the bill payment amount.
If you don't have these two potential payment types, at the end of the cut-off date, you won't see them on your report.
If you have any questions or need further assistance, feel free to submit a ticket via our Support Form.