Payout Schedules – Abacus

Setting a Payout Schedule for Reimbursable Expenses

If your team processes reimbursable expenses through Abacus, you can set the schedule for when payments are debited from your company’s bank account and ACH’d to your employees.

The quickest way for your employees to be reimbursed is to use the default, nightly payout schedule. However, if you would like for payouts to be weekly, semi-monthly, or monthly, you may adjust the schedule on the Reimbursements screen.

If you have an accounting software integration with Abacus, reimbursable expenses will flow into your accounting software on the day that the debit from your company account initiates. For example, if you have a weekly payout schedule, reimbursable expenses will flow into your accounting software once per week, when the debit from your company bank account is initiated.

Default Payout Schedule: Nightly Payouts

The default payout schedule on all Abacus accounts is nightly. Using a nightly payout schedule, every time a final approval admin from your company approves expenses, all the expenses approved prior to 5pm EST that day will be debited from your company’s bank account in a single debit and subsequently transferred to your employees via ACH within 6-8 business days.

Alternate Payout Schedules: Weekly, Semi-Monthly, Monthly

If your team would like a payout schedule other than the default nightly payout schedule, go to Company Settings > Reimbursements to select the frequency.

Weekly Payouts

If you would like for reimbursements to take place on a weekly basis, the debit from your company’s bank account will take place every Wednesday night. In order to ensure employees’ expenses are included in the batch of reimbursements for any given week, please ensure that your final approval admin approves all expenses prior to 5pm EST on Wednesday. Any expenses approved after 5pm EST will be included in the next batch of reimbursements.

Semi-Monthly Payouts

If you would like for reimbursements to take place on a semi-monthly basis, the debit from your company’s bank account will take place on the 1st and 15th of every month. In order to ensure employees’ expenses are included in the batch of reimbursements, please ensure that your final approval admin approves all expenses prior to 5pm EST on the 1st and 15th of each month. Any expenses approved after 5pm EST will be included in the next batch of reimbursements.

Monthly Payouts

If you would like for reimbursements to take place on a monthly basis, the debit from your company’s bank account will take place on the 1st of every month. In order to ensure employees’ expenses are included in the batch of reimbursements, please ensure that your final approval admin approves all expenses prior to 5pm EST on the 1st each month. Any expenses approved after 5pm EST will be included in the next batch of reimbursements.

All payment timing is based on the assumption that the company is eligible for fast crediting and within its fast credit limit. ACH payment processing can take up to 8 business days if the company has exceeded the fast credit limit.