Early Payment Requests help you get paid earlier by allowing you to offer your customers discounts on their invoices if they pay them early. By incentivizing customers to pay early, you increase your available working capital.
Your Coupa customer has to enroll you in their Discounting program for you to use early payment requests successfully.
How it works
If your Coupa customer wants to use early payment discounts with you, they enroll you in the Discounting program in their Coupa instance, which sends you a notification that you've been enrolled. This allows you to offer your customer discounts on eligible approved invoices in exchange for them paying the invoice sooner than it is due, increasing the amount of working capital that you have at your disposal.
Once you've been enrolled in the Discounting program, you can start sending early payment requests to the customer who enrolled you. If you don't want to participate in the program, or want to automate the sending of early payment requests, you can update your preferences in the Setup section.
Update early payment preferences
Users with the Admin permission can update their early payment preferences in the Setup section:
- Go to Setup > Payment Preferences > Dynamic Discounting.
- Locate the customer you want to edit preferences for and click Edit in their section.
- In the Edit window that appears, complete the fields.
Field Description Activate Dynamic Discounting
Deselect the checkbox to remove yourself from the Discounting program.
The checkbox is automatically selected when your customer enrolls you.
Automatically submit invoices as Early Payment Requests
If selected, the CSP automatically submits early payment requests for eligible approved invoices at the discount rate you enter in the 30 Day Discount Percent field.
30 Day Discount Percent
If you enabled automatic submission for early payment requests, the discount percentage you are offering the customer. For more information about how the percentage is used to calculate the offered discount amount, see View and Manage Early Payments.
- Click Save.
FAQ and Troubleshooting
Why wasn't my early payment request accepted automatically?
If your early payment request didn't meet discount thresholds your customer set in their Coupa instance, your request goes into review status while it waits for your customer to review it.