Procore Pay is available in the United States. It is designed for General Contractors and Owner-Builders who act as their own General Contractors on a job. Procore Pay extends the Invoice Management functionality in the Procore web application to handle the payment process between general and specialty contractors.
To pay invoices with Procore Pay, a In Procore Pay, a Payments Admin is a designated Procore user who administers the Company level Payments tool for that company's Procore account. Typically, one (1) or a small number of trusted users are designated to perform the tasks associated with this role. In Procore Pay, a funding account is a bank account where money is held by a financial institution and controlled by the payor. This is the 'Pay From' account. In Procore Pay, a deposit account is a bank account where money is held by a financial institution to process the payor's authorized transactions. This is the transaction banking account. must add and verify at least one (1) in the Company level Payments tool. A Payments Admin can add more than one funding account to Procore Pay. However, a disbursement can only have one (1) funding account. Before adding a funding account, your company must open at least one (1) during the implementation process.
For security and verification purposes, all newly added funding accounts must undergo a test before they can be used to fund disbursements. After adding a new account, contact the Payment Operations team. See Contact Support.
Navigate to the Company level Payments tool.
Click the Payments Settings 
icon.
This opens the Payments Settings page. The 'Business Entities' page in the 'Payments Processing' tab is active by default. This page lists all of your company's business entities that have been configured to pay invoices.
For each business entity, click the funding account(s) link to view the account information.
The table below details the elements for the Funding Accounts table. Verified funding accounts can receive a In Procore Pay, a drawdown request refers to the request to process the drawdown of funds from a payor's funding account, to transmit the funds to the payor's deposit account. This is also referred to as a Fedwire Drawdown. A disbursement is the action of paying out money from a fund. In Procore Pay, a disbursement withdraws funds from a general contractor's funding account and transmits them to the general contractor's deposit account. Payment orders are then issued to withdraw funds from the deposit account to pay invoices. when creating a .
Element | Type | Description | Learn more... |
|---|---|---|---|
Nickname | Field | A Payments Admin enters the account nickname when linking an account. The nickname allows Payment Disbursers to identify an account when creating disbursements. It also protects your financial privacy by eliminating the need to provide disbursers with the full bank account number. | |
Verification Status | Field | Shows the current verification status of the account. | |
Bank ID | Field | A Payments Admin enters a unique Bank ID portion to be part of the unique check number issued to the next invoice payout from this account. A payout is an invoice payment in a disbursement. | |
Next Check No. | Field | A Payments Admin enters a unique Next Check No to be part of the unique check number issued to the next invoice payout from this account. A payout is an invoice payment in a disbursement. | |
Default | Field | Indicates the account is the default withdrawal account for Procore Pay in the payor environment. | |
Deactivated | Field | Indicates the account has been deactivated. | |
Overflow | Menu | Click the vertical ellipsis and choose one of the menu options. The available options in this menu are: Edit, Set as Default Funding Account, and Deactivate. On the Default account, only Edit and Deactivate are available. On a Deactivated account, only Edit is available. |
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