What is autopay?
Autopay enables you to automatically pay vendor invoices through Wholesail. You can configure your bank account or credit card to be charged automatically for open invoices.
What options can you set with autopay?
You can configure autopay to occur:
- When invoice is due - This will automatically pay invoices on the date they are due.
- Daily - This will automatically pay invoices every day. This is a good option if you have short terms with your vendor and never want to exceed those terms. Other buyers prefer not to manage invoices and instead have them paid off as quickly as possible.
- Weekly - This will automatically pay invoices every week on a weekday you define.
- Bi-weekly (Every other week) - This will automatically pay invoices every other week on a weekday you define. We recommend this option for buyers that have bi-weekly payroll and prefer to pay vendors on the weeks they do not have payroll.
- Monthly - This will automatically pay invoices once per month on the day of the month you define. If that day falls on a weekend or holiday, ACH charges will automatically charge the next business day.
- Multiple times per month - This will automatically pay invoices multiple times per month on the days of the month you define (for example the 8th and 21st of the month). We recommend this option for buyers that have twice per month payroll and prefer to pay vendors on the weeks they do not have payroll.
For all options except When invoices are due, invoices are paid off in chronological order (oldest first) up to your maximum amount. By default, invoices can be partially paid. This helps in case you are issued a large invoice. You can turn this off if you would like to only pay whole invoices.
In addition to those options for recurrence, you can also define:
- Maximum charge amount - This is the amount not to be exceeded with any charge.
- Start date - By default this will be the next qualifying day based on your configured autopay settings.
- End date - By default this will be one year after the start date. You can always extend the autopay period when it’s close to expiring.
How do I set up autopay?
To configure autopay, send an email to email@example.com with your desired settings (including the name of the vendor) and we’ll configure the plan for you.
How and when will I be notified about automatic payments?
You will receive a confirmation email indicating your autopay plan has been configured. Two days before each planned payment you will get a reminder email and after each payment you will get a confirmation email with the amount of the payment and links to the invoices that were paid.
How do I cancel or make changes?
You can cancel at any time or make changes by contacting firstname.lastname@example.org and we will make the change immediately.
A vendor requested I set up autopay, what control do I have?
With Wholesail autopay, you stay in control and can cancel or make changes whenever you would like. Wholesail will notify your vendor of any changes you make. If they have worked with you to come up with an autopay plan, we recommend discussing any changes with them before you make them in Wholesail.