Summary
AutoPay allows Clients to create their own parameters to automatically pay one or more of their outstanding invoices with their chosen payment method on a monthly basis. Clients, or Firm Admins on their behalf, can choose to set a monthly maximum payment amount, or can choose to have all invoices paid in full each month. Clients receive automatic emails for upcoming autopayments as well as visual indications that an unpaid invoice is to be paid by AutoPay when viewing the Client Portal.
Unlike Recurring Payments, AutoPay is a payment specifically towards one or more of the Client's Invoices as they're posted by the Firm. As such, it would replace any Recurring Payment(s) and only one AutoPay plan is needed per Client Account.
Included in this article:
- AutoPay Setup Options
- AutoPay Notifications
- AutoPay Enabled
- AutoPay with Multiple Business Entities
- Frequently Asked Questions
AutoPay Setup Options
There are a few options clients have in regards to AutoPay. These functions are available in any Client Portal, which can be accessed and setup by Clients (who have a Payment Portal User Account) and/or by Firm Admins on a Client's behalf.
At the firm level, we will request you choose your firm-wide Buffer Days (e.g. 5, 7, or 9 days), which will determine the number of days before AutoPay processes that the client will receive their AutoPay reminder email.
Please Note: Buffer Days determines the number of days ahead of the client's preferred payment date that the client will receive a reminder email notification of their upcoming automatic payment. Any new invoices sent after the reminder email goes out will be scheduled for the following month's automatic payment.
Enable AutoPay: A Client can choose to enable AutoPay in the Client Portal's Settings tab. If the Client has existing Recurring Payment Plan(s), they are prompted to confirm the disabling of the Recurring Payment(s) before they can proceed with completing the AutoPay settings.
Day of the Month: A Client can choose which day of the month they would like their AutoPayment to process.
Payment Amount: A Client can choose to have all their outstanding Invoice(s) paid with their AutoPayment in full, or can set a maximum payment amount per month.
Payment Method: A Client can choose an existing saved payment method or can setup a new payment method for their AutoPayment.
AutoPay Emails: A Client can choose to add additional emails to receive AutoPay notifications, in addition to their own email associated to their Client Portal User Account.
AutoPay Notifications
The following automatic notification emails send to the Client:
- Confirmation that AutoPay has been set up (indicates the maximum monthly amount if applicable)
- Confirmation that an automated payment is going to happen in X days (no maximum amount)
- Confirmation that an automated payment is going to happen in X days (w/ maximum amount)
- Confirmation that an automated payment was made and paid 100% of invoice(s)
- Confirmation that an automated payment was made and did not pay 100% of an invoice; email provides a link and prompts the Client to pay the remaining balance on the invoice by due date
- Notification that an automated payment failed. Email provides a link and prompts the Client to attempt to pay the invoice again manually
- Notification that an AutoPay was changed
- Notification that an AutoPay was disabled
- Notification that a payment method used by AutoPay is going to expire
AutoPay Enabled
Once AutoPay is enabled, the Client Portal User (or Firm Admin in the Client's Portal) sees the affects of Autopay.
Viewing Existing Invoices that will be paid with AutoPay
Existing AutoPay plans (client portal)
Existing AutoPay Plans (firm portal)
All AutoPay and Recurring Payment plans setup by clients or firm admins on their behalf are visible in the Firm Portal.
AutoPay with Multiple Business entities
Some firms have opted for an alternative practice structure and operate under multiple entities. Aiwyn supports this flexibility by allowing charges to be separated according to each entity's unique business rules. Read more about it here
When processing automatic payments for invoices, Aiwyn compiles outstanding amounts across all entities for a given client, prioritizing them by due date to address the most overdue invoices first. If a maximum payment amount is set, invoices are prioritized based on days outstanding until the limit is reached. Partial payments are applied as needed when the invoice exceeds the limit. Without a payment limit, all unpaid invoices are included.
Separate scheduled deposits are created for each bank account. Each payment is accompanied by a dedicated confirmation email containing detailed information.
Reports are also tailored to the entities involved. For example, if two entities are included, there will be two separate payment files and transaction files.
Example Scenario:
The client has 4 outstanding Invoices:
- Invoice A: $400 due March 1 (Entity 1)
- Invoice B: $300 due March 1 (Entity 2)
- Invoice C: $500 due March 15 (Entity 1)
- Invoice D: $200 due March 20 (Entity 2)
Max Payment Amount: $1,000
How Auto Pay will work:
- Invoice A: $400 is fully paid (remaining payment amount: $600)
- Invoice B: $300 is fully paid (remaining payment amount: $300)
- Invoice C: $300 is partially paid leaving a $200 balance (remaining payment amount: $0)
- Invoice D: Not paid as the payment limit has been reached
Final Payment Schedule:
Separate payment files are sent per entity
- Entity 1 Group: $700 (Invoice A + part of Invoice C).
- Entity 2 Group: $300 (Invoice B).
Frequently Asked Questions
How do Smart Statements work with Clients enrolled in AutoPay?
When a client is enrolled in AutoPay, they will no longer receive Smart Statement emails. This is because the AutoPay reminder email includes much of the same information as the Smart Statement email, especially a list of outstanding invoices and their aging. In the firm portal Collections view, the client collections status is displayed as “Enrolled in AutoPay”. Client accounts not enrolled in AutoPay will receive Smart Statements as intended.
When does an AutoPay reminder email send to the Client?
You will choose your firm wide "Buffer Days" (e.g. 5, 7, or 9 days). The reminder email will send to the client at the start of the buffer day period. For example if you have 7 buffer days, the reminder email will send 7 days before the AutoPay is processed.
What gets paid if a maximum monthly payment amount is determined?
The oldest unpaid invoice is paid first, followed by the second oldest invoice, and so on, up to the limit determined by the Client. If an invoice cannot be paid in full, a partial payment is applied up to the remaining amount of Invoice. All associated fees (e.g., processing fees and/or international card fees) are included in the AutoPay maximum. The Client is not charged more than the limit they specified as the maximum payment amount.
Scenario
Client has setup a monthly AutoPay with $1,000 payment maximum per month, using a Credit Card. Their associated processing fees for Credit Card payments is 3%.
They have a two outstanding invoices:
- Invoice 12345 due May 1, 2023 - $500.00
- Invoice 56789 due May 15, 2023 - $500.00
AutoPay will pay the oldest invoice first, so the Invoice 12345 due on May 1 gets paid in full. Invoice 56789 gets paid $470.88, with $29.12 still remaining.
Payment Breakdown:
| Invoice 12345 | $500 |
| Invoice 56789 | $470.88 |
| 3% Credit Card Processing Fee | $29.12 |
| Total Payment Amount (AutoPay Maximum) | $1,000.00 |
What if we post a new Invoice after a Client's AutoPay date has passed?
The Invoice will get paid on the next month's AutoPay date.
What if a Client with AutoPay does not have any unpaid Invoices?
No Automated payment will process. AutoPay will only happen when the Client has unpaid Invoice(s).
What if a Client pays an Invoice outside of Aiwyn AutoPay but they have AutoPay setup?
No Automated payment will process for an Invoice that was paid either outside of Aiwyn (such as with a check) or manually within Aiwyn. Once an invoice is paid, AutoPay will not go towards an already paid Invoice.
Will Late Fees (finance charges) get included in AutoPay?
No, a Client with Late Fees will need to choose to manually pay their Late Fees as AutoPay will only make payments towards Invoices and processing fees.
Can AutoPay pay only certain Invoices?
No, AutoPay is setup at the Client level and cannot be directed to pay only certain types of Invoices.
Does the client pay processing fees with AutoPay?
The processing fees you have set for your clients credit card payments are set by default but can be adjusted specifically for AutoPay and Recurring Payments as well. For example, if you wish to absorb credit card fees for clients using these features but not one-off transactions, this can be configured. To do so, please submit a ticket to support@aiwyn.ai for assistance.