How are they invoiced and paid
Flarepay fees are invoiced to customers each month, and the invoice amount relates to the month prior.
Example: you receive an invoice in June, the amount payable is for the processing fees relating to May.
The only variation to this may be your first FlarePay fee invoice, as it may be made up of multiple processing periods, depending on your go live date.
There is no need to pay this invoice as the amount due is added to your bank file automatically (ABA), the invoice is for reconciliation purposes only.
This payment method is advised in the FlarePay agreement signed prior to FlarePay commencing.
Reconciliation of invoice
You can confirm the month the fees relate too, as well as the amount being processed through your bank file by using the below reports within FlarePay once the pay run has been completed.
- Payroll Bank File Reconciliation Report - The Flarepay fee reference will always be displayed at the very bottom of the report against wage type "9600". The Payee is - EPI-USE Managed Solutions, and the purpose will display "FPAY-your customer number-Month-INV".
- Payroll Posting Details report - The Flarepay fees will be captured on this report if the wage type "9600" has been mapped to your General Ledger.
The steps to create the GL code are in the below knowledge base article.