X

Vendor Payments

Scheduled Payouts

Scheduled Payouts

Explore when and how you can schedule payouts to vendors in RazorpayX Vendor Payments app.

Most businesses benefit out of making payments on or just before the invoice due date. Making payments closer to due date or on due date helps in maintaining a higher net worth and a smoother cashflow, especially for SMEs and MSMEs.

In such cases, scheduling the payouts to your vendors can be helpful. You can schedule the payout and forget about it. All you must do is to ensure that on the day of the processing the payout, you have adequate balance in your account.

By scheduling payouts, you also eliminate the need to do multiple checks, and ensure the due date is not missed. Scheduling payouts enhances your business relationship with your vendors significantly when you are consistent with your payments.

You can use the

Vendor Payments app in RazorpayX

to schedule payouts.

Here are some typical business use cases where you can schedule payouts:

  • You receive an invoice from your vendor with a due date against it. You decide to pay the invoice exactly on the due date.
  • You wish to pay all the invoices of a particular vendor in a specific time range at the end of the fortnight/month or payment cycles.
  • You receive an invoice based on some payment terms agreed with the vendor, which mandates payment to be made exactly after x days post the invoice date.

In all these cases, you can schedule the payout accordingly.

Schedule Payouts

To schedule a payout:

  1. Log in to your

    RazorpayX Dashboard

    .
  2. Navigate to Menu → Vendor Payments.
  3. Click + INVOICE.
  4. Continue to upload the invoice or click CONTINUE WITHOUT UPLOAD to manually enter the details.
  5. Add the Invoice Details, Vendor Details, and Amount Details.
  6. Click REVIEW INVOICE to cross-check the payout details.
  7. Click Pay/Schedule Invoice as shown here:
    Edit Invoice screen showing all the invoice details
  8. It takes you to the New Payout window. Here you can finalise the payout details. Once done, click Schedule Payout, as shown.
    Schedule payout in New Payout window in RazorpayX
    Once you click Schedule Payout, you see the calendar and time options on your screen. Select the date on the calendar and also the time of day when you want RazorpayX to process your scheduled payout, as shown.
    Update the calendar and the time to schedule payout
  9. Click CONFIRM.
  10. Authenticate the transaction using OTP.

After you schedule a payout, the invoice status changes to Scheduled.

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