A disbursement is the action of paying out money from a fund. In Procore Pay, a disbursement withdraws funds from a general contractor's funding account and transmits them to the general contractor's deposit account. Payment orders are then issued to withdraw funds from the deposit account to pay invoices.
A Fedwire Drawdown is a drawdown request that authorizes the deposit account (see How do funds flow between bank accounts with Procore Pay?) to withdraw funds from a payor's funding account to pay the disbursement. When viewing the details of a disbursement in the Company level Payments tool, you can see the Drawdown Status for the disbursement.
This table details Procore's default statuses for disbursements. To learn more, see Create Disbursements.
Status | Definition |
---|---|
![]() |
The drawdown request for funding the disbursement is complete. |
![]() |
The drawdown request for funding the disbursement has failed. |
![]() |
The drawdown for the disbursement is complete. |