With our Accounts Payable refresh, we have introduced more specific statuses to help your scaling team manage processing, paying & reconciling your payables.
Rho AP is broken down into two cycles: Bill cycle and payments cycle.
- The Bill cycle includes submitting, processing, editing, and reconciling bills
- The Payment cycle includes confirming payment details, approving, scheduling, and reconciling bill payments.
Here is a mapping of how our prior statuses map to new AP statuses:
Bill Cycle
This workflow starts with a status of Bill Draft and ends with a Status of BIll Processed
| New Status | What does this Status mean? | Prior Status |
| Bill Draft - Incomplete | Bill has been submitted via Dedicated AP Inbox or Platform upload and requires review | Not Acknowledged |
| Bill Draft - Complete | Bill is ready to be synced (if integrated) & sent to payments | Incomplete |
| Bill Processed | Bill details are complete & synced (if integrated), Bill Payment cycle has started | To Be Scheduled |
Payment Cycle
This cycle begins when a Bill moves to Processed Status and begins with Payment Draft Status and ends with Paid status.
| New Status | What does this status mean? | Prior Status |
| Draft Payment | Bill payment details need to be completed | To Be Scheduled |
| Pending Approval | Bill payment requires approval prior to payment releasing | Needs Approval |
| Bill Processed, Payment Scheduled | Bill payment is scheduled | Scheduled |
| Bill Processed, Pending Payment | Bill payment has been executed and is pending settling / authorization | Pending |
| Paid | Bill payment has settled | Paid |
Additionally, a Bill can always be Archived and now includes more granular statuses to ensure your team understands why a bill is not moving forward to payment.
Note that bill payments can only be archived when they are in Payment Draft status.
| New Status | What does this mean? | Prior Status |
| Archive | Bill was flagged by user as needing to be archived | Archive |
| Mistake | Bill was flagged by user as having a mistake in data entry and was archived | Archive |
| Duplicate | Bill was flagged by user as a duplicate and was archived | Archive |
| Fraud | Bill was flagged by user as Fraudulent and was archived | Spam |
Updated
<%= heading %>