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 SilverPay Payments reports will show 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 an “on hold” bucket in the payment authorization application. This payment does not require 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.
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Failed – Payment has failed for one of two reasons:
- There was an error with this payment and it could not be processed by the bank.
- Important bill or vendor information was changed, which affected this payment. As a control mechanism, the payment failed and must 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 was in a “paid” state but was subsequently voided. Additional steps may be required to fully cancel the payment (e.g., request a stop payment from your bank and void the payment in your accounting system). Please see the Void a Payment article for more information.