Note: Orders only enter billing cycles once closed. Only companies can close an order. Our system may also automatically close orders if it detects that there hasn't been any work done on the order for an extended period of time.
Please reach out to the scheduling company directly if your payment cycle keeps getting pushed back to confirm that the order is closed.
Billing Cycle 1
The first cut off date is the 1st of the month. Any orders that have closed since the last bill cycle and before the first of the month will be included in the first bill cycle. In other words any orders that closed between the 15th and 30/31st will be included in the first bill cycle.
First invoice date
This is on the 3rd of the month. Scheduling companies will be sent an invoice. They have 2 days to review and edit any orders on that invoice.
First charge date
Snapdocs will charge the scheduling company automatically for the invoice amount. Once received, the fee will then begin the transfer to the notary. Please note that the date between the charge date and when you see the payment in your account could be up to or more than 10 business days. This is due to the processing timeline of each bank and cannot not be expedited.
Billing Cycle 2
The second cut off date is the 16th of the month. Any orders that have closed since the last bill cycle and before the 16th of the month will be included in the second bill cycle of the month. In other words any orders that closed between the 1st and the 15th will be included in the second bill cycle.
Second invoice date
This date is on the 18th of the month. Scheduling companies will be sent an invoice. They have 2 days to review and edit any orders on that invoice.
Second charge date
Snapdocs will charge the scheduling company automatically for the invoice amount. Once received, the fee will then begin the transfer to the notary. Please note that the date between the charge date and when you see the payment in your account could be up to or more than 10 business days. This is due to the processing timeline of each bank and cannot not be expedited.
Examples
Note: February is a little more complicated because of weekends and holidays so it is a great example of how these days can delay payment.
