If you use ACH in Fyle to process reimbursements, you can quickly start the reimbursement process of all the approved reports from the Reports > Approved queue.
You can select the reports you'd like to reimburse and click on Reimburse via ACH.
A pop box would appear summarizing the details of the reimbursement, such as
The number of reports you have selected and the corresponding total reimbursement amount
The number of reports excluded from the reimbursement process and their corresponding total reimbursement amount.
The net final reimbursement amount
Actions that will be performed if you choose to proceed further
Once you have checked all the details in the summary, you can go ahead and go to Reimburse via ACH; all the reports for which reimbursements have been successfully initiated will be automatically moved to the Processing queue, where you can monitor the status.
Some points to note:
Reimbursement cannot be initiated for expense reports of employees whose bank account details are missing.
If you have enabled verification as a mandatory step for your organization, then expense reports that have unverified expenses cannot be processed for reimbursement.
Initiating reimbursement is an irreversible process. Therefore, reports cannot be pushed back to any previous states once the reimbursements have been initiated.
Suppose the reports you have selected contain both reimbursable and corporate card expenses. In that case, the portion of the reimbursable expense will be carried forward into the reimbursement process, and the corporate card expenses will not have any further actions to take and will stay as part of the report.
Once the reimbursable expenses are paid out, the report will automatically be marked as closed. However, if you wish to selectively export corporate card expenses to accounting systems at this stage, you can do so.
All successfully reimbursed reports will be automatically moved to the closed queue.
What to do if ACH reimbursement has failed?
A reimbursement initiated via ACH can sometimes fail due to insufficient funds in the bank etc. Reports for which reimbursement failed are indicated with a Failed status, and you can also hover over the Failed status to know the reason for failure.
Once you have fixed the issue, you can revisit the Processing queue, select the failed reports, and Reinitiate ACH.
This would put the reports back in the processing status, and once the reimbursement is successful, the reports will be automatically moved to the Closed queue.
If you have any questions, write us at [email protected]. We will be happy to help!