What's a Wise-Pay Automatic Payment?
Automatic Payment scheduling provides the flexibility of automating and debiting the saved client's bank account or credit card for an invoice amount that varies every month. This functionality is perfect for MSA invoices which can often change based on the number of users, devices or elements managed under the agreement.
Note: Automatic Payments are currently enabled for bank account debits (DDR/ACH) or credit cards processed through IntegraPay, while 3rd Party Merchants (Stripe, Braintree and Authorize.Net) will only use credit cards.
How does Wise-Pay Automatic Payments work?
Automatic Payments provide a method of direct integration between ConnectWise Invoices, the Merchant Service providing the payment gateway for ACH/DDR and credit card debts, and your accounting package. Wise-Pay uses the Wise-Sync service to send invoices to your accounting package (Xero or QuickBooks Online), checks if the customer has been setup as a Wise-Payer for Auto-Payments, and by matching the billing terms it will schedule the payment based on those billing terms using the saved payment method - ACH / DDR or Cred Card on file.
What do I need to do?
- Configure Automatic Payment Settings & Billing Terms
- Add Wise-Pay Payers & Configure Automatic Payments
- Sync to Schedule Automatic Payments
Note: Configuring Automatic Payment settings and Billing Terms will be a once-off setup while adding Wise-Payers and configuring Auto-Payments will be required for each customer. The syncing of existing invoices is already happening, so no extra steps!
Following the setup process for each customer, and with Wise-Pay and Wise-Sync Invoice sync you can:
- Send the invoice to your Account Package
- Schedule the debit based on your billing terms set on the invoice
- Update the schedule debit amount if you re-sync the invoice
- Add on any transaction fees you choose to pass onto the customer (and provide them with a separate invoice for the additional fee and or/surcharge)
- Match the payment into your Wise-Pay clearing accounts with the invoice for simple reconciliation
- Send payment confirmation back to ConnectWise when the next sync after the scheduled debit occurs