Batch payment Libeo

5 min

Batch Payment: How To Pay All Your Invoices In One Go With Libeo

Libeo is a fully integrated and automated business-to-business payments platform, bridging the gap between invoices, payments, reconciliation and accounting. The solution includes batch and bulk payment features to allow you to pay all of your suppliers invoices in one go based on dates or specific invoice details.

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Batch Payment Processing: a Key Feature in AP Automation

batch processing: definition

Batch processing is the ability to sort and batch payments, according to transaction type and/or by bank account, to process them in one automated batch. Batch payment processing is at the heart of a modern accounting system. A company that uses batch payment processing has the ability to send several payments in one action, which saves time and money.

This feature is especially helpful for companies that make many different types of payments, such as utility bills, suppliers invoices, payroll, and HR-related expenses. If a company uses multiple vendors for these transactions but does not use batch payment processing, it can send checks for every expense at every vendor. Batching payments together allows for fewer checks to be written each month, which reduces the amount of time spent writing checks and mailing them out.

As businesses update their processes to accommodate more digital payments, batching payments together can provide convenience for both parties: buyer and supplier.

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Approve & pay your supplier invoices in just one click

Approve and pay invoices in seconds without entering your suppliers' bank account details or using your banking app.

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How to Pay in Bulk in Libeo?

The feature “Pay in bulk” will allow you to pay more than one invoice in one click, whatever the date, or the supplier. This means that you can select invoices to be paid at different dates, and/or from different suppliers. Here is an example of a batch payment made with Libeo:

First, import your supplier invoices in your account. If you are using Xero as an accountant or as bookkeper or a business owner, you can directly upload your invoices from you Xero account thanks to the Libeo and Xero integration. Otherwise, use our invoices centralisation feature to collect all your invoices in one place.

Once your invoices have been imported into your Libeo account, you can find them in the "To pay" section:

Invoice dashboard
To pay several invoices at once, you need to activate one-click payments. Start by entering your suppliers’ bank details in your Libeo account. If a payment without IBAN process is already underway for a supplier, you can already pay the invoice and the payment will be processed as soon as the supplier uploads their banking information.

Once the suppliers’ bank details are entered in the contact details, you will be able to pay in bulk by ticking this box :

  • Click on the “Pay” tab
  • Select the invoices you want to pay
  • Choose one of the four options: “Pay all now”; “Pay all on due date”; “Pay all at custom date”; “Pay all now with your bank”
  • Once confirmed, the invoices will have the ”Planned” status

Batch payment processing
If you choose the “Pay all now with your bank” option, you will have to:

  • Choose your bank
  • Enter your bank details
  • Confirm the payment on your banking interface

Libeo's bulk payment feature be able to pay multiple invoices different suppliers at once at due date. Only one click is enough to pay 5, 10 or even 25 invoices at once with a payment batch, meaning there is no longer need for manual invoice processing or connection to different bank accounts.

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Try our batch payment solution

Approve and pay invoices in seconds without entering your suppliers' bank account details or using your banking app.

Book a demo

FAQ

How long does a batch payment take?

Batch credit funds transfer is one of the fastest way to make a payment. Once the transactions are cleared (or settled), the funds are usually delivered to the specified merchant account within 48-72 hours.

Why do banks use batch processing?

Batch processing in banking is convenient, it saves money and it offers more security than processing transactions in real-time.

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Libeo is registered by ACPR (Prudential Control and Resolution Authority) under the number 844679068 (approval can be consulted in the Register of Financial Agents – www.regafi.fr) as a payment services agent of the electronic money institution Treezor. Treezor, registered in the Paris Trade and Companies Register under number 807465059, whose registered office is located at 33 avenue de Wagram, 75017 Paris, acting as an electronic money institution within the meaning of Article L.525-1 of the French Monetary and Financial Code and approved by ACPR (Prudential Control and Resolution Authority), is located at 4 Place de Budapest CS 92459 75336 Paris Cedex 09 as an electronic money institution under number 16798, approval which can be consulted on the ACPR website in the Register of Financial Agents (REGAFI): www.regafi.fr.

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