How to Schedule Payments on Openfloat

Efficient payment management is critical for every business, and Openfloat simplifies this process with its payment scheduling feature. By scheduling payments, you can save time, avoid late fees, and maintain strong relationships with your vendors and employees 

Here is a simple step by step guide on how to schedule your payments on Openfloat. 

1. Log in to Your Openfloat Account 

Access your Openfloat dashboard with your secure credentials. If you’re new, complete the setup process to link your payment accounts. 

Navigate to the Payments Section 

• On your dashboard, locate and click on the “Send Money” tab in the menu. 

• Select the “Schedule Payments” option to begin. 

2. Add Payment Details 

Once you’re in the schedule payments, you’ll need to fill in the payment details: 

• Recipient Information: Enter the recipient's name, account details, and contact information. 

• Payment Amount: Specify the exact amount to be transferred. 

Set the Payment Schedule 

• Select the Date: Choose the date and time when the payment should be executed. 

• Frequency: For recurring payments, select a schedule (e.g., daily, weekly, monthly, or custom intervals). 

• End Date (if applicable): For recurring payments, set an end date or let it run indefinitely. 

3. Review and Confirm 

Before finalizing, review all details to ensure accuracy. Openfloat will display a summary of the payment, including: 

• Recipient information  

• Payment amount 

• Scheduled date(s) 

Click “Confirm” to save the schedule. 

4. Monitor Scheduled Payments 

Once confirmed, you can track all scheduled payments in the “Scheduled Payments” tab. 

• Edit or Cancel Payments: If plans change, adjust the payment schedule directly from this section. 

• Notifications: Openfloat sends reminders and confirmations for upcoming and completed payments. 

Tips for Optimizing Payment Scheduling on Openfloat 

1. Plan: Align payment schedules with cash flow forecasts to avoid overdrafts. 

2. Group Payments: Combine payments for multiple recipients into a single schedule to save time. 

3. Leverage Notifications: Enable alerts to stay informed about upcoming payments. 

4. Set Up Recurring Bills: Automate regular expenses like rent, salaries, and subscriptions for better efficiency. 

Whether you're handling one-time payments or recurring expenses, this feature ensures your financial commitments are met with ease and efficiency.