What is a Company Delay?

The company delay feature allows WorkSpace users to add a delay to all VendorPay payments coming from a company by a user selectable number of days. This means that once I payment is approved/pushed back from the accounting system into WorkSpace, instead of having the payment immediately issued, WorkSpace will wait the designated number of days before sending the payment.

This delay is typically introduced as a way to allow the necessary funds to be pulled from the property's bank account prior to VCCs be issued. The primary intent here is to prevent payments that have been reversed by the property from being swiped by the vendor. 

As is mentioned in the name, this process does introduce a delay in the time it takes to pay vendors from the selected properties so it should only be set up for properties that have a history of reversing payments on cards that have already been swiped. 

How to Set Up a Company Delay

1. In the host section of your WorkSpace login, select the "VP Company Delay" option. 
2. In the top left of the screen, select the "Add Company" option. 
3. In the first dropdown, select the name of the connected account you would like to apply a delay to.
   1. The connected account name may not be the same as the Account Company name. If you cannot identify the Connected Account name, access the Stripe Dashboard for more details. Soham Bhatt is also familiar with this process. 
4. In the second dropdown, select the number of days in the delay that you would like to add. For most situations, we recommend 3-4 days to allow enough time for a proper debit from the property's bank account.
   1. Please note, this dropdown is in calendar days, not business days. 
5. Press the save button. 

How to Remove a Company Delay

1. In the host section of your WorkSpace login, select the "VP Company Delay" option. 
2. Identify and select the connected account that you would like to remove the delay for.
   1. The connected account name may not be the same as the Account Company name. If you cannot identify the Connected Account name, access the Stripe Dashboard for more details. Soham Bhatt is also familiar with this process.
3. In the top left of the screen, select the "Remove Company" option.