How To Effortlessly Pay Multiple Vendors And Expenses with Clearing

Simplify vendor payments and manage expenses effortlessly with Clearing's payment processing. Automate payments, save time, and streamline operations today.

August 18, 2023


How To Effortlessly Pay Multiple Vendors And Expenses with Clearing

Learn How To Effortlessly Pay Multiple Vendors And Expenses

Managing property expenses and vendor payments can be a hassle if you are involved in the Short-Term Rental industry. It simply takes a lot of time to handle vendor payments and manage mass expense payments. Further to this, Property Management Platforms seem to leave a big gap in this functionality.

Imagine that you have to deal with fifty different vendors. Even the thought of managing these transactions is overwhelming. But fortunately, Clearing has come up with a payment feature that makes payment completion simple and intuitive.

This article will help you set up payments effortlessly by following simple steps. But first, let's discuss the benefits of this new payment feature and how it can help you with vendor payments and streamline mass expense payments.

Benefits of Automating Vendor Payments

  1. Easy Access to Transaction history: Through Clearing, businesses can easily access and review the details of each transaction, including payment amounts, dates, and recipients.
  2. Secured Transactions: Clearing uses Automated Clearing House (ACH) technology which ensures safe rental business expense payments. This will also provide you with mental satisfaction as you will know that all your payments are taken care of.
  3. Tracking Finances: You can track your transactions seamlessly while managing mass expense payments via Clearing. This gives you overall financial control and streamlines efficient payment management. You can view all your transaction history and address issues quickly and effectively.
  4. Paying multiple vendors at once: You can complete multiple transactions in a single go via using this feature. This will help you conveniently manage your workflow.

Setting up vendor payments via Clearing

Step 1: Access your Clearing dashboard

First, you must log in to your clearing account by filling in your credentials. If you don’t have one, you can sign up now. To proceed, enter your credentials and click “Log In”.

Step 2: Click the “Move Money” option

Once logged in, go to the “Accounts” section, and click on the “Move money” option on the top right side of your screen. After clicking, you will be displayed with three options. “Pay someone”, “Transfer between accounts”, **and “Mass payments”, as shown below.

Step 3: Pay Vendor

Step 3.1: Paying one Vendor by clicking “Pay someone”

Click the “Pay someone” option to make a single vendor payment. In the pop-up window, fill out all the credentials in the entry field. You can click on “To” and select the recipient if they are already in your history.

Otherwise, add a new recipient by clicking next to the “To” option shown below. Once you have filled in all the information, click the “Review and confirm” option, then proceed.

Step 3.1.1: Adding A Vendor’s Information

You can add a new recipient by entering their bank account information if they want to receive direct deposit to their bank account via ACH transfer.

Step 3.2: Paying Multiple Vendors by clicking “Mass Payments”

If you want to make multiple vendor payments, click “Mass payments” from the “Move Money” **menu.

A new form will open where you can make multiple payments at once. When filled out, you can move on to the last step.

Step 4: Review and Confirm the transaction details

It's really important to review once you have filled out the details. Read through and verify all of the account details, amount, and category information before sending the payments. If there are errors, click the “go back” option on the bottom left; if not, click “send payments” to proceed.

Step 5: Checkout your payment history from the “Transactions” **Section

Once all your payments are sent, they’ll be listed in the “Transactions” section and categorized accordingly. You can come back to “Transactions” to regularly check payments that you have completed. This additional information can be quite helpful when streamlining and centralizing your business transactions.

Step 6: And that’s all you need to do!

Following these simple steps will help you establish an effective payment management system. You will also feel an internal satisfaction that all your vendors are paid on time and in just a few clicks.

With this newly introduced feature, those involved in property management can easily streamline their vendor and expense payments in a considerably reduced amount of time.

So what’s holding you back?

Begin your journey now

If you are interested in learning about how to use other features in Clearing, be sure to check out our knowledge articles for the most up-to-date knowledge articles and feature instructions. You can also follow our releases through our product updates page 🙂

Clearing is a Financial Technology Company, not a bank. Deposit Accounts are issued by Evolve Bank & Trust, Member FDIC.

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