About the Beneficiaries Tab in the Payments Tool

Objective

To learn about the basic features and controls in the Beneficiaries tab of the Company Payments tool.

Background

Payments Admins and Payments Beneficiary Approvers can use the controls in the Beneficiaries tab to approve your payee's beneficiary accounts and check the operational status of those accounts. In Procore Pay, a beneficiary is a downstream collaborator who has completed the steps to link their bank account to Procore Pay to receive invoice payments.

Things to Consider

Required User Permissions

Prerequisites

Key Features

Invite Company Button

At the top of the Beneficiaries tab is the Invite Company button. Payments Admins and Payments Beneficiary Approvers can click this button to invite one (1) or more subcontracting company contacts to join Procore Pay. This opens the 'Invite to Procore Pay' panel, which reveals the 'Invite Company Contact' card.

Invite Company Contact Card

This table details the elements in the 'Invite Company Contact' card.

Element	Type	Description	Learn More
	Banner	If the icon and GRAY banner appears above the Company drop-down list, the company is already connected to Procore Pay. The system preselects the connected company's authorized contact for your invite.	Invite Beneficiaries to Procore Pay
Company	Drop-down list	Select a subcontracting company from the drop-down list. This list populates with company names in the Company Directory. Note: If the icon and GRAY banner appears, the system preselects the connected company's authorized contact for your invite.	Add a Company to the Company Directory
Send Invite To	Drop-down list	Select the contact from the drop-down list. This list populates with employee names from the subcontracting company's record in the Company Directory. Note: If the icon and GRAY banner appears, the system preselects the connected company's authorized contact for your invite.	Add a User Account to the Company Directory
Add Another Company	Button	Click this button to send another invite to another subcontracting company and contact.	-
	Icon	Click this icon to remove the subcontracting company and contact from the invite list.	-
Invite	Field	Click this button to send the invite(s).	Invite Beneficiaries to Procore Pay

Beneficiaries Table

The table in the Beneficiaries tab lets Payments Admins and Payments Beneficiary Approvers manage your payee's beneficiary accounts.

Table Elements

This table details the default columns.

Column	Type	Description	Learn More
Resend	Button	Click this button to resend an invite to join Procore Pay to the invoice contact of the subcontracting company. This button is available for each 'Beneficiary Name' in the 'Invite Sent & Onboarding Not Initiated' status group.	-
Remind	Button	Click this button to send an email reminder to the invoice contact for the subcontracting company to add their bank account information to Procore Pay. This button is available for each 'Beneficiary Name' in the 'Onboarding in Progress' status group.	-
Manage	Button	Click this button to open the company's bank account page. The cards in this page include: Bank Account Details. Shows the status of a bank account. If a bank account is in the 'Needs Review' status, the Approve for Payment button appears. Business Identity Information. Shows how the bank account is represented in these systems: The Directory tool, the Procore Dashboard company profile, and the payee inputted data when the account was linked to Procore Pay. The Manage button is available for each 'Beneficiary Name' in the 'Onboarding Complete & Needs Review' and 'Ready for Payment' status group.	Manage Beneficiaries in Procore Pay
Beneficiary Name	Field	Shows the name of the payee. This corresponds to the 'Contract Company' on the invoice's commitment contract. To change the company name, edit the Name field under the company's account profile in the Company level Directory tool.	Edit a Company in the Company Directory
Beneficiary Bank Account	Field	Shows the beneficiary bank account.	Add a Bank Account as a Payee
Beneficiary Bank Account Status	Field	Shows the payee's onboarding status to Procore Pay.	What are the default statuses for Procore Pay onboarding?

Table Groups

This table details the groups on the Beneficiaries tab. It also shows the beneficiary account status associated with each group. To learn more, see What are the default statuses for Procore Pay onboarding?

Group	Status	Description	Next Step
Onboarding Complete & Needs Review	Needs Review	Indicates the payee has completed the required Procore Pay onboarding steps. The beneficiary account is awaiting the payor’s review and approval.	Approve a Beneficiary Bank Account as a Payor
Onboarding Not Started	Invite Not Accepted	Indicates the payor has sent an invite. Procore Pay is waiting for the payee to start the onboarding process.	The payor can re-invite the user to join Procore Pay. See Invite Beneficiaries to Procore Pay. If you are a payee, see Accept a Procore Pay Invitation as a Payee.
Onboarding Not Complete	No Bank Account	Indicates the payee has joined Procore Pay, but still needs to add their beneficiary account.	The payor can send a reminder to add a bank account. See Invite Beneficiaries to Procore Pay. If you are a payee, see Add a Bank Account as a Payee
Ready for Payment	Approved	Indicates the payor has approved the beneficiary account. The payee is ready to accept invoice payments from the payor with Procore Pay.	If the payee has submitted invoices that are ready to pay, the payor can Create Disbursements.