To view a the funding accounts for a business entity in the Company level Payments tool.
To pay invoices with Procore Pay, a Payments Admin must add and verify at least one (1) funding account in the Company level Payments tool. A Payments Admin can add more than one funding account to Procore Pay. However, a disbursement can only have one (1) funding account. Before adding a funding account, your company must open at least one (1) deposit account during the implementation process.
The table below details the elements for the Funding Accounts table. Verified funding accounts can receive drawdown requests when creating disbursements.
Element | Type | Description | Learn more... |
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Nickname | Field | A Payments Admin enters the account nickname when linking an account. The nickname allows Payment Disbursers to identify an account when creating disbursements. It also protects your financial privacy by eliminating the need to provide disbursers with the full bank account number. | Add Funding Accounts as a Payor |
Verification Status | Field | Shows the current verification status of the account. Procore Pay is powered by Modern Treasury with payments provided by Goldman Sachs TxB. Verification occurs after a Payments Admin links an account. | Add Funding Accounts as a Payor What are the default verification statuses for bank accounts in Procore Pay? |
Bank ID | Field | A Payments Admin enters a unique Bank ID portion to be part of the unique check number issued to the next invoice payout from this account. A payout is an invoice payment in a disbursement. | Add Funding Accounts as a Payor |
Next Check No. | Field | A Payments Admin enters a unique Next Check No to be part of the unique check number issued to the next invoice payout from this account. A payout is an invoice payment in a disbursement. | Add Funding Accounts as a Payor |
Default | Field | Indicates the account is the default withdrawal account for Procore Pay in the payor environment. | Set a Default Funding Account as a Payor |
Deactivated | Field | Indicates the account has been deactivated. | Deactivate Funding Accounts as a Payor |
Overflow | Menu | Click the vertical ellipsis and choose one of the menu options. The available options in this menu are: Edit, Set as Default Funding Account, and Deactivate. On the Default account, only Edit and Deactivate are available. On a Deactivated account, only Edit is available. | Manage Business Entities as a Payor |