With Melio, you can set automatic payments to vendors you pay the same amount regularly. This ensures you never miss a payment and can help you stay organized.
Here’s how to set up recurring payments with Melio:
1. Sign in to Melio.
2. Click Pay in the left sidebar.
3. Click + New Payment.
4. Choose how to add a bill.
5. Fill in the bill's details.
6. Make this into a recurring payment by:
a. Bill amount: Enter the amount that will be deducted every time.
b. Payment frequency: Set the payment frequency to monthly or weekly.
c. Number of payments: Choose the number of payments you want to set up for this recurring payment, up to 24 months or 60 weeks.
d. First payment to arrive on: Select the date you want your payment to be delivered every time.
e. Note to self: Add a note to remind yourself what this payment is for.
7. Click Save and schedule a payment when you’re done.
8. Select how you would like to pay. Click Continue.
9. Select how your vendor will receive your payments.
NOTE: If this is the first time you’re paying this vendor
You’ll need to fill in the payment delivery details. Enter their bank account details or business address if you want them to receive the check.
If you don’t know how your vendor wants to receive payments, click Ask vendor for payment details. Let them choose how they want to get paid. Their preference will be saved for future recurring payments to this vendor.
10. Select a deduction date. This will be the deduction date for all of the recurring payments.
11. You can leave a memo to your vendor. The default is the invoice number. This will be attached to every recurring payment.
12. Make sure all the payment details are correct. You can see this is a recurring payment by the number of payments, delivery time of every payment and delivery date of the first payment.
13. Click Confirm and schedule payment to continue.
That’s it, your recurring payment is set.
You’ll get an email with the details of your payment.
NOTE: Sync with Quickbooks
Melio will sync the recurring payments that you scheduled to your QuickBooks one at a time, according to the time frame you set (every month/week). This way, you’ll always know which payment is next.
NOTE: Payment on a weekend/federal holiday
If the due date of the payment falls on a weekend/federal holiday, the payment will arrive on the next business day. To see a full list of federal holidays, check out this article.