VendorPay orders

Sonia Marton -

An order's life cycle on VendorPay:

Once you are on VendorPay, all of your orders created after the feature is turned on will be paid out via VendorPay. When you create an order and send out signing notifications to notaries, they will see on the signing notification that the order is being paid via direct deposit. Before the notary can accept a signing, they will also be asked to accept the VendorPay terms.

Once the order has a completion status added the order will be queued to automatically close. For VendorPay, all orders with a completion status will be automatically closed after 1 week. You are still able to manually close orders if you wish.

Once the order is closed it will be invoiced in the next bill cycle. After Snapdocs charges your company, payment takes 8-10 business days to process and distribute to the notary's bank account. 

Important tips:

  • If an order is not ready to be paid out, put the order on hold. On hold orders are not billed. Once it's ready to be paid, remove the hold, add a signing status and close the order.
  • If you do not need to pay the notary because the order was canceled, make sure you cancel the order in Snapdocs. Canceled orders are not billed.
  • If the fee needs to be changed on the order, make sure you change the fee before the order is closed.
  • If a notary reaches out inquiring about payment, please direct them to Snapdocs Support (support@snapdocs.com). The best part of VendorPay is that we pay the notaries for you! We will handle the communication for you as well.
  • Once an order has been closed, it can only be reopened by reaching out to Snapdocs Support (support@snapdocs.com).
  • Because Snapdocs is paying the notaries, we issue 1099s as well.
  • If you would like to keep track of your VendorPay invoices and upcoming payments, there is a tool for this in Accounting Tools. Click Admin --> Accounting Tools --> VendorPay in the left column.

 

Please note: All orders that were created before VendorPay was turned on, regardless of when they were closed, will not be paid out with Vendorpay.

Related articles:

What is Snapdocs VendorPay?

How will notaries know if my company is on VendorPay? 

Have more questions? Submit a request

0 Comments

Please sign in to leave a comment.