Standalone Payments Overview
šø No Bill? No Problem ā Pay Your Vendor using Settle Payments!
A standalone payment is made independently of any associated bill or invoice. This type of payment is typically used when an organization needs to make a direct payment to a vendor or service provider without a corresponding invoice or when the invoice details are handled separately.
Users can make a single payment that behaves like any other payment on Settle, syncing to accounting software but not related to any bill.
Adding a Standalone Payment
To add a standalone payment, follow these steps:
Navigate to Payments:
Select āBillsā from the dashboard on the left side of your screen.
Click the dropdown near the "+ Add Bill" button on the right side of your screen and select "Payments".
Alternatively, go to "Payments" from the dashboard on the left side of your screen and select "+ Make Payment".
Choose Payment Type:
Select "Standalone payment, no bill".
Fill Out Payment Details:
Vendor: Select a vendor you want to pay to.
Amount: Enter the payment amount.
Pay To Account: Specify the recipientās account of the payment.
Pay From: Choose the account from which the payment will be made.
Scheduled For: Set the date for the payment.
The current date is selected by default, but you can choose a different date if needed.
Add Expense Details:
This section is used for linking the payment to accounting systems (QuickBooks only supported, NetSuite to come).
Enter relevant details Expense category
Default account will be preselected (if entered in Setting > Accounting)
Memo
Reference - will be added to bank transaction description
Schedule Payment:
Review the estimated processing time.
Click āScheduleā to finalize the payment.
Processing Status:
Once a payment is scheduled, it will go through the standard processing phases.
The status will update accordingly, indicating when the payment is successfully processed/paid/failed/etc.
Viewing Scheduled Payments:
In Payments sections you can view your standalone payments along with other payments.
Note, these payments wonāt be shown in Bills section.
