Reissue/Refund Supplier Payments

  • Updated

Users can initiate a reissue or refund of suppliers payments on the Invoices or Payments in Progress tab.

Important Note: Finexio does not issue a USPS tracking number, when issuing/sending supplier checks. There is a Finexio Payment Reference trace ID (for internal tracking purposes) assigned, for all checks issued.

 

Locate Payment Management Screen

  • Click Client Reporting (on the left side panel).
  • Select the Invoices or Payments in Progress tab (bottom of screen).
  • Locate the specific payment, utilizing the filters to customize your search.
  • Once the payment is located, Select the link icon () under the Manage Payment column.
    • Note: If the link icon does not appear, the payment is not available to manage at that time.
  • The Payment Management screen will populate.
  • Select Refund Payment or Reissue Payment.

 

Refund Payment

  • If Refund Payment is selected, the Refund Reason field will be greyed out and cannot be edited.
  • In the Comments field, insert the reason for the refund request (Note: The character minimum is 5).
  • Once completed, select Submit Refund Request.
  • A Finexio Support ticket will generate and the Finexio Customer Support team will contact you during normal business hours to assist.

 

Reissue Payment

Verification Process Before Reissuing

Before initiating a check reissue request through the portal. 

  1. Verify the supplier's remittance address is current.
  2. Verify the supplier's name that should appear on the check.

Important Note: If the supplier’s name has changed, it cannot be updated on a reissued check. In these cases, the original payment must be refunded. And a new payment submitted by the buyer under the correct name.

  1. Confirm the original payment issue date using the article Locate Supplier's Payment Details.
  2. Determine how long ago the payment was issued:
    • Less than 90 days ago: Ask the supplier to allow additional processing time for the printed check to be generated and delivered.
    • 90 days or more: The payment was automatically refunded to the buyer and the customer can reissue payment.
    • If 90 days has passed and the check has not cleared: The customer can decide whether to reissue a new check or refund the payment.
      • When a check has been stopped, always notify the supplier so they can avoid bank fees.

 

Action Reissuing

Important Note: If the supplier would like the reissue payment to be in the form of an ACH payment, instead of a paper check. Please do not submit the reissue request. 

Advise the supplier to complete form Finexo Individual ACH Enrollment Form and request Finexio reissue payment as an ACH payment, once update is completed.

 

  • Once you select Reissue Payment, choose one of the provided options in the Reissue Reason field.
  • In the Comments field, add desired information (Note: The character minimum is 5).
  • A Finexio Support ticket will generate and the Finexio Customer Support team will contact you during normal business hours to assist.

 

  • Auto-reissues as a printed check, can take 1–3 business days to be mailed to the supplier. However, the delivery time may vary due to factors (e.g. USPS schedule and holidays).

Important: Please advise the supplier, that if the check original check is received. To dispose of or shred it immediately, as it is no longer valid. Attempting to cash the outdated check may result in bank-imposed fees.

 

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