How do I create and manage a Payable?

Key Concepts

• Payable = Payment Event linked to an approved PO and a Published Operational Event
  
  
• Lifecycle:
• Draft → when the payable is first created
• Published aka “Scheduled → when the payment is scheduled for a future or same-day date
• Completed → when the funds are sent
  
  
• Once completed, a Payable cannot be edited or deleted.

Steps to Create and Manage a Payable:

• Open a Trade with an Approved PO

1. Go to Trades → select a Trade an Approved PO.

• Create Operational Event

• Add a New Payable

1. Click “Add Payment Event”.
2. Fill in or edit:
1. Amount
2. Payment Date
3. Source
4. Network
5. Destination Account (tied to Supplier)
6. Notes
3. Click “Save” – status becomes “Draft”
1. → Expected Result: the Payable saves in Draft status

• Schedule (Publish) a Payable

1. When you are ready to confirm the payment date, click : and select Publish
1. Expected Result: status changes from Draft → Published & your payment is now scheduled for the chosen date.

• Complete (Send Now) a Payable

1. If you need to execute the payment immediately, click : and select Complete
1. Expected result: Status changes from Published → Completed, the payment is processed right away and you receive a confirmation email with the subject line “Payment Pay-XXX has been completed and is now processing”

Common Questions:

1. Can I schedule multiple payables for one trade?
1. Yes. A payable can be split up into partial payments and can be added separately
2. How can I delete my Payable?
1. Click “:” and select Delete while the Payable is still in Draft
1. Expected result: the payable is removed from the trade timeline. Note: Payables cannot be deleted once completed.
3. How can I edit my Payable?
1. Click the “:” menu next to your Payable, then select Edit. You can update the amount, date, or notes for a ‘Draft’ or ‘Published’ Payable.
2. Expected result: the changes save successfully and your payment returns to ‘Draft’ status
4. Why can’t I delete my Payable?
1. Once a payable is completed, it cannot be deleted. If you are not sure about your payable, we advise you to publish it for a date in the future
5. What happens if there are insufficient funds?
1. If your Klear Account balance is too low on the scheduled date, the payment will fail. You will receive an alert via email and you will need to re-schedule or re-sent the payment manually.

Troubleshooting:

Support

If you’re unable to add, edit, or complete a Payment Event after following these steps, contact us at 📩 support@klearbusiness.com.