What are the default drawdown statuses in Procore Pay?
General Availability in Select Markets (United States)
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.
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.
Background
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.
Answer
A Fedwire Drawdown is a In Procore Pay, a drawdown refers to the disbursement of funds from a payor's funding account to the payor's deposit account held by a financial institution.
Drawdown Status
This table details Procore's default statuses for disbursements. To learn more, see Create Disbursements.
Status | Definition |
|---|---|
Draft | The disbursement was saved in the 'Draft' status. |
Funding Requested | The drawdown request for funding the disbursement is complete. |
Funding Failed | The drawdown request for funding the disbursement has failed. |
Funding Completed | The drawdown for the disbursement is complete. |