How do payments work on Candex?

Payments can only be made in a Canpay

Payments on Candex

When a seller requests a payment on Candex and the Buyer agrees to the details of that payment, it will trigger Candex to invoice the buyer, and forward payment to the seller. In order to enable users at your company to exchange invoices and process payments through Candex, it is necessary to fill out the payment entities under company settings.

Adding Payments

Payments can be added to any Canpay - on the chat line at the bottom, click on the $ icon to add a payment and select whether you need to send or request money. 

Then fill out the information about the payment including a short description and any relevant files/attachments, and select a billing entity to make/receive the payment from.

Both Seller and Buyer can initiate this step, and te billing process will begin once the other party will accept the payment request: the seller will receive detailed invoicing instructions with a link to submit their invoice to Candex, while Candex will invoice the buyer. Payment will be made according to the buyer's payment terms.

Payment Information

The payment days and the size of the Candex fee to process the transaction can be easily viewed when you agree to the payment terms. The payment days are set by the buyer, and they have the ability to set it for their company, for specific spend categories or for particular companies within a spend category.  Only company admins can change the number.

The Payment Process

On the invoice date (or immediately following the acceptance of the payment information if the invoice date has passed), Candex will issue an invoice to the Buyer and the Seller will be required to issue an invoice to Candex for the amount of the payment less the candex service fee.  Specific information will be distributed based on the country of the payment and the terms agreed immediately following acceptance by both sides of the payment.

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