Understanding Batch Payments
This document provides a high-level overview of how batch payments work in Zoho ERP. It explains what batch payments are, why they are useful, and how they help you through employee reimbursements.
What is a batch payment?
Batch Payments allows you to group multiple employee reimbursements together and reimburse them all at once. While the payment is handled as a group, each bill included in the batch continues to be tracked individually. This makes batch payments ideal for businesses that regularly process employee reimbursements in bulk.
Scenario: Imagine ten employees in your organization have submitted their approved reports for reimbursement. Normally, you’d have to reimburse them one by one, making ten separate payments. With Batch Payments, you can select all ten reports, put them into one batch, and then process the reimbursements at once, saving both time and effort. Zoho ERP will still record each employee’s reimbursement individually, but you only have to process one batch instead of ten separate batches.
Advantages of Using Batch Payments
Batch payments help streamline reimbursements by reducing the need to create multiple individual payments. They save time, minimize manual effort, and lower the risk of missing or duplicate payments. Batch payments also improve visibility into bulk reimbursements and support better cash flow management.
Lifecycle of a Batch Payment
The lifecycle of a batch payment shows the stages a batch goes through from the time it is created until it is processed or cancelled. A batch payment is typically created as a draft, submitted for approval if approvals are enabled, and then approved. Once approved, it can be exported or paid, after which it is marked as processed. In some cases, a batch payment may also be rejected or cancelled instead of being processed.
Statuses of a Batch Payment
The following are the statuses used in batch payment: Draft: A newly created batch will be in the Draft status. Ready to Process: Once reports are added to a batch they can be marked as Ready to Process. Exported: Batches exported to upload in the bank for payment will be in the Exported status. In Progress: The batch remains In Progress from the time the payment is initiated in Zoho ERP until it is marked as processed. Processed: Batches for which payments have been made will be in the Processed status.