Overview
Congratulations! If you’re reading this, it means you have decided to start an Early Payment Program (“EPP”) with Quickly. After setting this up, you can just sit back and watch the savings roll in while your vendors get the ultimate flexibility of choosing when they get paid.
Login to your Quickly Account.
Navigate to account settings.
Navigate to integrations.
Connect your accounting system.
Select your Accounting System and follow the steps
Complete your Buyer Account Settings.
Recording entries related to early payment.
Select a clearing account or create a new one in your ERP System.
If Quickly is already set up in your accounting system, pick us from the dropdown list.
Or create a new Clearing Account in your ERP System. Click here for instructions.
Set up paying bills in Quickly.
Pick the General Ledger account that is related to the bank account you have connected.
If you’ve added a credit card, choose the G/L account related to it.
Pick the G/L account where we should record your savings from the Early Payment Program.
Pick the G/L account where we should record your payment transaction fees.
Select “Automatically pull bills into Quickly”.
That's it! Your buyer account settings are complete. You can now record the transactions to the correct accounts with the click of a button.
What's next?
Set Up Approvals.
Complete the following steps if you want to add an approver or change who should approve the early payment requests. (If you skip this step, all early payments will come to the original person who signed up for Quickly.)
Click “Invite Teammates” on the left-hand sidebar.
Navigate to the “Workflows” section of the “Account Settings” (bottom right side) page.
Edit your “Default” workflow.
Add any teammates by selecting them from the “Unassigned” section.
Select the approver order by dragging them up or down. The number beside their name is the order in which the approvals occur.
Invite Vendors and Sync Bills
Click “Contacts” on the left-hand sidebar.
Click the invite button beside each Vendor entry.
Click the toggle button right beside to Sync their Bills into Quickly.
Approve Early Payments
When a vendor requests an early payment, you must approve it before we pay them. To approve Early Payments, follow these steps:
Navigate to the “Bills” page by clicking “Bills” on the left-hand sidebar.
You can find all the early payment requests by using the quick filter “Early Payment Requests.”
Click on the More Options (3 dots) menu on the requested invoice and click open.
Click Approve or Decline.
If choosing to approve, you can approve the invoice and pay it immediately (capturing most of the early payment discount) by clicking “Pay now”.
Or, you can approve the invoice and pay it when it’s due (capturing some of the early payment discounts) by clicking “Pay later”.
Then click “Approve bill.”
If declining, please provide a comment or reason for the decline.
Record the Vendor Swap.
If Quickly has paid your vendor early, please record the Vendor swap by clicking the More options Menu on the early paid invoice and click “Push Early Payment Entries”.
Pay the invoices when they come due.
You can find all the invoices owed to Quickly by using the quick filter “Due to Quickly.”
Select one or more of the invoices you want to pay. The selected invoices will appear with a black outline.
Click on the “Review” button at the bottom to review the batch of invoices to be paid and complete the payment.
Select the payment method and click “Submit Payment”.
Record invoice payment, savings, and transfer fees.
Record the payments by clicking the more options menu on the paid invoice and click “Push Repayment Entries”.
Thank you for choosing Quickly for your Early Payment Program. By following the steps outlined in this guide, you've streamlined your payment processes, ensuring timely transactions and maximizing savings. Remember, our support team is always here to help with any questions or additional setup needs. We look forward to seeing the positive impact this program will have on your business and vendor relationships.
Welcome to a more efficient and flexible way of managing payments with Quickly!
💡 Have questions or need further assistance? Strike up a conversation with our support team using the in-app chat messenger. We are always happy to help! |