FINSYNC uses its own payments engine to withdraw from your bank accounts and make payments to your employees and vendors.
These transactions are tracked in the FINSYNC Pay Report.
Follow these instructions to use the FINSYNC Pay Report:
1) Click "Expenses" in the top nav.
2) You'll default to "Payables" and should click "Reports" and choose "FINSYNC Pay" in the dropdown.
3) The report defaults to the current calendar month but you can change it by adjusting the period.
4) Each payment consists of at least one draft and one bill. If you pay multiple bills on the same day, you'll have one draft that corresponds to multiple bills.
5) The column headers have the following meanings:
- Draft Date - The date on which the money is pulled from your account.
- Draft Amount - The amount pulled from your account (this may be multiple bills).
- Bill Amount - The amount being paid on that single bill.
- Vendor - The recipient of the payment.
- Vendor Bank Account - The account where the money is being deposited if paid by ACH. Note: For security, only the last 4 digits are visible. If the vendor is being paid by check, nothing will show in this column.
- Bill # - The ID of the bill in FINSYNC.
- Payment Date - The date that the check/ACH is issued to the vendor.
- Reference - This column will simply show "ACH" if the bill paid by ACH. If paid by check, the number of the FINSYNC Pay check will be present.
- Cleared Date - If paid by ACH, nothing will be present in this column. If paid by check, the Cleared Date is the date the check clears into your vendors bank account.