How to set up iplicitPay and complete a payment run?

iplicitPay is the integrated payment service that lets you send bulk payments directly from iplicit to your bank using open banking. This article contains a full video walkthrough covering the three stages of using iplicitPay: setting up a payment service, completing a payment run and authorising the payment with your bank.

What the video covers

The video walks through the complete iplicitPay process from first-time setup to a completed payment. The three stages are:

Stage one: Setting up a payment service in iplicitPay

A payment service connects a single legal entity to iplicitPay. To find the setup area, type 'payment service' into the main search bar in iplicit. The video covers:

• Creating the payment service and linking it to a legal entity
• Selecting a general ledger code for transaction fees (also called bank charges)
• Entering payment service administrator details for your Crezco account, the open banking provider iplicitPay uses
• Connecting your bank through open banking
• Adding further bank accounts using 'Connect new banks'
• Linking the iplicit bank account that payments and fees will post to

Stage two: Creating a bulk payment run with iplicitPay

Once the payment service is set up, you complete payment runs from the bulk payments area. The video covers:

• Creating a new bulk payment run
• Changing the payment method to iplicitPay
• Setting iplicitPay as the default on a bulk payment template
• Reviewing the payment fee values shown after saving or submitting
• Submitting the run for approval through your authorisation workflow

Stage three: Authorising and sending the payment via iplicitPay

After approval, the payment is sent to your bank using iplicitPay. The video covers:

• Selecting the 'iplicitPay' button on the approved bulk payment
• Choosing between continuing in iplicit or sharing the secure checkout URL with the bank approver
• Completing authorisation at your bank
• How iplicitPay automatically posts the payment to the cashbook and creates the fee journal

Before you start

To follow the steps in the video, you will need:

• A general ledger code set up for transaction fees
• The details of the person who will administer your Crezco payment service account
• A bank account that supports open banking (see Which banks are compatible with iplicitPay, and what are the payment limits?)
• An authorisation workflow set up for bulk payments. This is strongly recommended before running any iplicitPay payment

Watch the full iplicitPay setup and payment process