Payment Status Definitions

Audience: Accounting Managers and Payment Authorizers

Summary: This article outlines the payment statuses within MineralTree and how they define which phase of the approval process the payment is in. 

"Paid"

The payment has been approved and submitted to the vendor.

Note: Virtual card payments will display as Paid, but the virtual card tracking reports  will allow you to see the status of the tokens, if your vendor has processed the payment.

In Process Statuses

• "Awaiting Approval" – payment is awaiting authorization from one or more payment approvers.
• "On Hold" – payment has been moved to a separate "on hold" bucket in the payment authorization application. This payment doesn't require any additional input from an accounting manager prior to approval.
• "Rejected" – payment has been rejected by the payment authorizer and requires correction and resubmission by the accounting manager before it can be paid.
• "Failed" – payment has failed for one of two reasons:
  1. there was an error with this payment and it couldn’t be processed by the bank
  2. Important bill or vendor information was changed that affected this payment, and as a control mechanism, this payment failed and needs to be resubmitted by the accounting manager
• "Recalled" – payment has been recalled from the payment authorizer application by the accounting manager. The payment must be resubmitted for approval. 
• "Scheduled" – payment has been approved, and will be processed at the appropriate payment cut-off time.

"Voided"

This payment had been in a "paid" state, but was subsequently voided. Additional steps may be required in order to fully cancel the payment (e.g. request a stop payment from your bank, and void the payment in your accounting system). Please see this article for more information on voiding payments.