Managing Payment Orders

Cancelling Payments

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Payments can be cancelled before their processing date.

To cancel a payment:

• Click Payments, View All Orders. Payments sitting on the Drafts, Pending Approval, Scheduled or Recurring tabs can be cancelled.
  • From the Drafts tab, check the box next to the payment you wish to cancel and click the trashcan icon to delete.
  • From the Pending Approval tab, an approver can reject the payment. Check the box next to the payment you wish to cancel, then click Actions, Reject. Rejected payments are returned to Draft status, where they can be edited and resubmit or deleted.
  • From the Recurring tab, check the box next to the recurring payment you wish to delete and select the trashcan icon to Delete.
  • Payments which appear on the Scheduled tab can only be cancelled by contacting the RBC PayEdge Support Team (1-833-945-4292). The team can move the Payment Order back to Draft Status, where you can then delete it as outlined above.

You can view a list of all cancelled orders on the Cancelled tab.

When payments are cancelled, the funds will be deposited back into your RBC PayEdge Virtual wallet. Refer to section on Virtual Wallet for instructions to move the funds out of your virtual wallet.

Notifications

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Throughout the Payment Order approval process, various notifications will be sent to all relevant Users. Each email notification will include the full details of the Payment Order, the status and action required.

• Approval Request: After the Payment Order has been sent for approval, all possible approvers will receive an email Approval Request. The email subject line will include “Business Name - Approval Request – Order #” and provide instructions on how to approve the order.
• Reminder: If approval for a Payment Order has not been provided within 24 hours, an email reminder will be sent to all listed approvers who have not actioned the request. The email subject line will include “Reminder: Business Name - Approval Request – Order #”.
• Payment Rejected: If a Payment Order is rejected, all listed approvers and the User who created the order will receive an email notification that the order has been rejected by a specific approver.
• Order Approved: Once a Payment Order has been approved by all required approvers an email will be sent to all approvers and the User who created the order notifying them that the payment has been approved.
• Payment Submitted and In-Progress: Once the Payment Order has been approved, it will be processed on the designated processing date. A notification email will be sent to all approvers and the User who created the order notifying them that the payment has been submitted and is in progress. A similar email will be sent to each supplier.
• Payment Complete: Once the approved Payment Order has been funded and disbursed, a notification will be sent to all approvers and the User who created the order notifying them that the payment has been completed. The email subject line will include “Payment Complete: Business Name, Order #”. A similar email will be sent to each supplier.

Payment Order and Status

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All Payment Orders can be reviewed on the Orders page.

• From the main dashboard click Payment > View All Orders. The orders will appear under the relevant tab based on their status.
• Click onto each tab to the view the Payment Orders under each.
  • Draft: Payment Orders that were started and saved but not completed.
  • Pending Approval: Payment Orders that were submitted and are pending approval from at least one individual. Review when each person approved and who has yet to approve the Payment Order under the Approval Status column.
  • Scheduled: Approved Payment Orders that are awaiting processing on a future date.
  • In Progress: Approved Payment Orders that are in progress, but funds not yet delivered to the recipient.
  • Complete: Approved Payment Orders that have been delivered to the recipient.
  • Recurring: Approved Payment Orders that have been set up on a recurring schedule.
  • Declined: Payment Orders that were submitted but rejected by at least one required approver.
  • Cancelled: Payment Orders that were canceled and not completed.

Payment Reports

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Past Payment Orders can be reviewed on the Payment Report.

• From the main dashboard, click Payments > Payment Report.
• Establish your search criteria by selecting a date range or search by specific Order ID, Supplier or Payment Order status.
• Click ‘Search’.
• You can review individual Payment Order reports by clicking on the hyperlinked Order ID # (includes payment + supplier details, funding accounts including FX and fees) or you can click ‘Download’ to export the results to a CSV file.

Reconciliation

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If you have connected your accounting software to RBC PayEdge, all payments made on the platform will automatically be reconciled back to your accounting software.

Upon creation of the Payment Order, a journal entry will first be posted to a PayEdge Clearing Account; once the payment is processed, an entry will be made to close out the payable and recognize the associated bank fees.

Note: When adding a bank account in RBC PayEdge, the Account General Ledger Name needs to be the exact same as entered in your accounting software for smooth reconciliation.

Remittance Details

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• Remittance Notes can be added while creating the Payment Order on the “Payment Order Details” screen.
• Input directly into the text box if manually entering a payment; click Actions > Edit to modify the remittance notes for an imported payment.
  
• Each time a payment is processed, RBC PayEdge will send an email to your supplier with payment remittance details included.
• The notice will be sent to the contacts that have been added to the supplier profile (multiple contacts may be added).