As part of our month-end billing project or statement billing, there are multiple status options that a statement life cycle can have. Some of these statuses are adjusted through automation, while others need to be manually updated. In this article, we cover the different statuses, automation, and manual adjustment
A statement is used to determine the total amount owed by a certain entity during a specified timeframe, typically this is one month, however, this can also be daily, weekly, or annually. Every statement will start off with a status of “pending” and will cycle through to “processing”, and finally to “paid”. Below is a chart of all the possible statement statuses.
Statement Status | Explanation | Associated disbursement status |
|---|---|---|
Pending | Pending payment This is the starting status of every statement | Returned If an associated disbursement has a status of “returned”, the statement can revert to “pending” |
Processing | Payment has been initiated, but not confirmed | Processing When the disbursement updates to “processing” |
Paid | Statement has been fully paid | Processed The disbursement updates to “processed” and the total matches the amount of the statement |
Partially Paid | Statement has been partially paid | Processed The disbursement updates to “processed” and the total is less than the amount of the statement |
Cancelled | Statement has been cancelled. Example: client already paid by other means, or responsibility to pay has been waived | NA This status does not receive an update from the disbursement |
Partially cancelled | Statement has been partially cancelled. Example: Client has partially paid by other means, and the remainder has been waived | NA This status does not receive an update from the disbursement |
In order to understand how the statuses can be automatically updated, we need to understand how an entity can pay for a statement; The standard process to pay for a statement is by using our disbursement process, where a debit payout schedule is set up to collect the total amount of the statement on a recurring basis. In the below chart we will cover each disbursement Status, and how it can impact the statement.
Disbursement Status | Explanation | Impact to statement status |
|---|---|---|
Requested | The disbursement has been requested and will be processed on the next business day | No impact/change |
Processing | The disbursement request has been processed | Status will change to processing |
Processed | The disbursement has been fully processed | Status will change to paid or partially paid |
Failed | The disbursement requested failed locally | No change, status will remain as pending |
Denied | The disbursement request was denied by he processor | No change, status will remain as pending |
Returned | The disbursement was returned / rejected by the issuing bank | status will change to pending or partially paid |
Any statement payments received outside of the system will require a manual update!
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