Have questions about what your receivable status means? We provide a breakdown of these different statuses.
The common workflow
When you send an invoice to your customer, it will stay in a "Pending" state until they elect to pay that invoice.
If this is your first time interacting with this customer on Routable, they may need to add a verified bank account before they can proceed.
Once your customer elects to pay your invoice, and funds have begun to transfer, the status will move to an "Initiated" state.
In the example above, "Expected Jun 17, 2019" means you'll receive your funds by this date.
Once your customer's funds have been received, Routable will update the status to "Completed" - confirming that this transaction is now finished, and no further action needs to be taken.
A "Processing" status reflects a transaction that is being prepped to send. Usually, by the time you refresh your page, the receivable will have finished processing.
If you see an item in a "Completed" status, but the text underneath says that a transaction was completed outside of Routable, it means that you (or a team member) marked the receivable as paid outside of Routable.
⭐ Note: In some cases, payments may fail after they have
Completed status. This happens when banks are late notifying us about an error with the bank account. When this happens you will receive an email notification alerting you about the failed payment.
A "Canceled" status means that you (or a team member) canceled a pending invoice.
A "Ready to send" status means that your invoice has yet to be sent to a customer, and no send date has been elected.
You can send or schedule this invoice whenever you choose. Your recipient hasn't received any notification regarding this invoice, and no funds have started to move.
A "Scheduled" status means your invoice is scheduled to send on a future date.
Your recipient hasn't received any notification regarding this transaction, and no funds have started to move. Once the send date arrives, your customer will be notified.
If you have approval settings turned on for your company, the "Needs approval" status will be active until one of your company approvers can confirm the details of your invoice.
The problem states
Please contact support to fix an item in these statuses.
A "Failed" status means that a transfer for your invoice was initiated, but ran into obstacles while trying to complete. Common reasons include:
The receiving bank rejected funds, or;
The bank account wasn't able to be located.
An "Issue" status means that a transfer for your invoice couldn't be initiated, and therefore couldn't leave the Routable platform.
An "Error" status is the rarest of the problem statuses. We'll have to dig in to the nitty gritty details to find out what went wrong and how we can fix it.