Lesson 6.6: Electronic Bill Payments and Client Billing

This lesson covers two advanced transaction features that streamline your cash flow management. First, we will explore Electronic Bill Payments, which allows you to pay vendors digitally (ACH, Wire, Virtual Card) without printing physical checks. Second, we will cover Client Billing, the core of the Accounts Receivable module, which allows you to create professional invoices for services, tuition, or grants and track what is owed to your organization.

Part 1: Electronic Bill Payment (Corpay One)

FastFund integrates with Corpay One to automate the Accounts Payable process. Instead of printing, signing, and mailing checks, you can send payment instructions directly from FastFund to Corpay One, which then pays the vendor according to their preference (Check, ACH, or Virtual Card).

Prerequisites:

1. Integration: You must enable the integration at Administration > Integrations (APIs) > Corpay.

2. Vendor Linking: Before you can pay a vendor electronically, they must be linked to a Corpay One vendor record.

    ◦ Open a Vendor record in FastFund.

    ◦ Click the Corpay menu link.

    ◦ Click Create Vendor (if new) or Link Vendor (if they already exist in Corpay).

    ◦ Note: The vendor must have a complete address and valid email to be linked.

Processing Electronic Payments: The workflow for electronic payments replaces the “Print Checks” step for physical checks.

1. Enter Invoices: Enter Vendor Invoices (AP-Bills) as usual.

2. Pay Bills: Select the invoices to pay in the Pay Bills window.

3. Generate Payments:

    ◦ Navigate to Transactions > Cash > Print Checks.

    ◦ Click the Electronic Payments button at the top.

    ◦ Select the items to pay and click GENERATE PAYMENTS.

    ◦ Review the list and click SEND & POST PAYMENTS.

4. Approval: The transactions post to FastFund immediately as CD-AP transactions. You must then log in to the Corpay One portal to authorize the release of funds.

Part 2: Client Billing (Accounts Receivable)

Use the Client Bills window to invoice clients for services, program fees, or reimbursable grants. Posting a client bill increases your Accounts Receivable (asset) and increases your Revenue.

Creating a Client Bill:

1. Navigate to Transactions > Accounts Receivable > Client Bills.

2. Header Info:

    ◦ AR Account: Select the control account (e.g., Accounts Receivable).

    ◦ Client: Select the client. FastFund will auto-fill the address and default terms.

    ◦ Date/Due Date: Enter the invoice date. The due date calculates automatically based on the terms.

3. Billing Items: In the grid, you do not select GL accounts directly. Instead, you select Items (created in Module 5).

    ◦ Item: Select the service/good (e.g., “Tuition”, “Consulting”).

    ◦ Quantity/Price: Enter the details. The Amount calculates automatically.

    ◦ Project: You can assign a project code to the revenue line if applicable.

4. Save: Click Save to post the invoice.

Distributing Client Bills

Once bills are created, you need to get them to your clients. You can do this individually or in batches.

Emailing Bills:

• Individual: Inside a specific Client Bill record, click the Email button. This opens a preview using your default Email Template. Click Email to send it immediately with a PDF attachment.

• Batch Email (The Email Queue):

    1. When creating bills, click the Email checkbox in the “Options” area (top right). This adds the bill to the queue.

    2. Click the Email Queue button on the Client Bills toolbar.

    3. Select all clients in the list and click Email Selected.

Printing Bills:

• Individual: Click the Print button inside a bill to generate a PDF.

• Batch Print (The Print Queue): Check the Print box in the Options area. Click the Print Queue button to batch print multiple invoices at once.