Traditional invoicing and accounts receivable methods are inefficient with manual tasks, delays in invoicing and posting payments, plus time-intensive collections efforts with little insight. That’s why VersaPay focuses exclusively on the invoice-to-cash process and offers its cloud-based, intelligent AR solution, VersaPay ARC™. This eBook will detail 6 ways VersaPay ARC will transform accounts receivable for your business.
In the digital world, B2B transactions are constantly changing. The manner in which transactions are initiated and conducted have to improve as the pace of business moves faster every day.
You can upload multiple transactions by uploading a batch file. See below to follow the step-by-step instructions.
First you will have to create the batch file – visit the “How do I create a batch file?” page to learn how.
To upload the file you’ve created, click on the “Transactions” tab and click the “Upload a batch file of transactions” option. This option can also be found within the “Quick Links” panel on the dashboard.
Select the file you previously created and saved by clicking the “Choose File” button and locating the file.
Once you have selected the file you would like to upload, choose the funding source that you would like to fund the transactions. The fund source selector will default to your primary funding source, so be certain to check that this is the correct fund source for the file you’re uploading.
Once you have selected the funding source and selected the file, click the “Next: Confirm Transactions” button to upload the file for review.
A confirmation page will be displayed that you can review to ensure that the batch file has uploaded successfully. You can also review the details of the batch before processing it. To process the transactions click the “Process” button. Clicking process will initiate the transactions, so you must be certain you’re ready to do so.
Once the batch has been processed, it will appear in the list of files uploaded and/or processed. You can review the transactions in each batch by clicking the “View” link next to the batch. You can view the history of batch files uploaded and/or processed at any time by clicking the “Upload Batch File” link in your account. The various batch file states and what they mean are as follows:
a. Ready to be processed: The file has been uploaded, but not processed yet – transactions in the file haven’t been initiated
b. In progress: Transactions have been initiated and are in progress – they will be processed
c. Processed: Transactions have been initiated, processed and are now completed
These columns can be left blank if needed because they are not required fields. However, the column name does need to be present otherwise the file will not process. Do not delete any of the column headers; the format of the file must remain as is.
If there are numbers with leading zeros, e.g. for any of the banking information, you may notice that the zeros disappear causing problems with the file. You can format the field, beginning the leading zeros with an apostrophe such as ‘ which will allow the cell to retain the leading zeros. For example: 001 is entered as ‘001 to retain the leading zeros.
Multiple Transaction Types:
Each batch file can only contain 1 transaction_type. Please create separate batch files for direct_debit and debit_credit transactions.
Do you like the sound of getting get paid faster and improving customer satisfaction? If so, you’re ready for accounts receivable automation.
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