Pay bills
Pay bills matches a new Bill to its Agreement, approves it within a Mandate, pays it on its due date and reconciles the payment.
Trigger
Runs on Bill.created. Part of Payables, run by the Finance Team.
Steps
- Match the Bill to its vendor’s Agreement and code it.
- Approve the Bill within the Finance Lead’s Mandate, or ask the Founder above it. It waits 1 business hour first.
- Pay the Bill before its due date. It waits 1 business hour first.
- Reconcile the payment to the ledger.
Outputs
Example
A $412 hosting Bill arrives on the 3rd, due on the 20th. It matches the vendor’s Agreement and is approved under the $1,000 threshold. It is paid on the 18th and reconciled the same day.