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How to Pay Suppliers from Precoro

This article explains how to use Precoro Payments to pay your suppliers directly, manage transactions, and track payment statuses.

TABLE OF CONTENTS

How to Create a Payment for an Invoice

You can create a payment to a supplier directly from an invoice using the Pay button if you're using Precoro Payments.

💡Please note: You can still manually mark an invoice as paid (e.g., if the payment was made outside the system). 

To do so, open the invoice you want to pay, and click the Mark as Paid button in the header.

The Pay button in the invoice is only active if:

  1. The invoice status is Approved.
  2. Supplier's Name, Address, Bank Account Number, and ABA/Routing Number are filled in on the supplier’s card.
  3. The invoice hasn’t been fully paid or marked as paid yet.

Click Pay to start creating the payment, and then follow the steps explained below.

Step 1: Fill Out the Payment Creation Form

Due Date, Supplier, and Currency are autofilled from the invoice. Currency is the same as in the invoice.

You can enter the Payment Amount less than the invoice due amount to make a partial payment. The invoice will change status to Partly paid.

Available methods are determined by the supplier's provided details:

  • ACH: Standard transfer (3–5 business days).
  • Same-day ACH: Accelerated transfer on the same day (if available).
  • Wire: Available if the supplier has a physical address on file (1 business day).

Step 2: Review and Finalize the Payment

Once you’ve filled or edited all required fields, please press Create in the top right corner. Here’s what this action does:

  1. Saves the payment with the Draft status. You can return to it from the Payments page to edit and confirm it later.
  2. Opens a confirmation screen. You can review the details and click 
    1. Pay to finalize
    2. Edit document to make changes
    3. … (More Actions) → Delete to delete the draft.


How to Track and Manage Payments

Payment Statuses

Here are the statuses you may see on the Payments page or in payment documents:

Status

Description

Draft

The payment has been created but hasn’t been sent for processing yet.

Pending

We’re sending a processing request to Stripe.

Processing

The payment provider is processing the payment. You can cancel a payment with this status if it hasn’t been sent to the bank’s network; if the payment has already been sent and can’t be canceled, Precoro will show a flash message to inform you.

Paid

The payment has been completed.

Failed

The payment failed. Please try to create a new payment or contact our support team to review the issue.

Canceling

We’re sending a cancellation request to Stripe. A payment gains this status when a user cancels it.

Canceled

The payment was canceled in Precoro. You can view the cancellation reason in the comments. 

Returned

Funds have been returned to your account. 

Editing, Deleting, and Canceling Payments

Editing

Any user with the Invoice Pay role can view and edit a Draft payment (modify the Amount, Note, and Delivery options). To confirm a draft, simply open it and click Pay.

Deleting

Payments can only be deleted while in Draft status. This action is irreversible. 

Canceling

You can only cancel a payment if it’s in the Processing status and hasn't been sent to the bank network yet.

  1. Click “...” (More Actions) on the payment page and click Cancel Document.
  2. Provide a reason for cancellation (saved as a comment).
  3. Press Yes to confirm the cancellation.

How Payments Are Displayed in Invoices

  • Immediate Reservation: The payment amount is immediately "reserved" once you create the payment. 
  • Status Updates: An invoice becomes Paid only when all related payments have the Paid status and add up to equal the invoice total. If only a portion is paid, the status remains Partly paid.
  • Reverting Balances: If a payment is Canceled, Failed, or Returned, the reserved amount is automatically added back to the invoice due amount, making it available for a new payment creation.

Payment Receipt

Once a transaction is finalized, you can download a Receipt as official confirmation. This is found within the Transaction Details card on the Payment Balance page.

How to View All Transactions

The transaction table on the Payment Balance shows you the complete history of all funds moving in and out. Use it to quickly review account top-ups and payments to suppliers.

To view any transaction in more detail, press View (the eye icon) in the Action column to open a sidebar. In addition to basic information, you’ll see the following:

  • Bank account and the chosen Delivery option.
  • Payer and Supplier names.
  • Links to the related Invoice and Payment documents.
  • Payment note.

In this sidebar, you can also:

  • Switch to the Integration Logs tab to view the complete history of all events related to the transaction.
  • Click Download Receipt to get confirmation of the transaction.

Precoro partners with Stripe Payments Company for money transmission services and account services with funds held at Fifth Third Bank , N.A., Member FDIC.

Precoro Visa® Commercial cards are powered by Stripe and issued by Celtic Bank. Stripe Issuing balances are provided in the US by Stripe Payments Company, licensed money transmitter, with funds held at Stripe’s bank partners, Members FDIC.