Payments
Payments in Tabs is the money arriving and being matched to the invoice it pays. Tabs collects card and ACH payments, reads your bank feed, applies incoming transactions to open invoices, and syncs the result to your ERP.
Role in Tabs
Payments settle what collections has been chasing:
- A customer pays, through Stripe, ACH, a check, or a wire
- Cash application matches the incoming transaction to an open invoice
- The invoice balance drops and its status moves toward Paid
- Payment and reconciliation data sync to your ERP
An invoice is only settled in Tabs once a payment is applied to it. A customer telling you the money is on the way moves the invoice to Pending; it is not Paid until the cash lands and cash application matches it. For the chase that precedes all of this, see Collections.