View and Manage Early Payments
View and manage your early payments which incentivize your customers with discounts to pay early.
Early Payment Requests help you get paid earlier by allowing you to offer your customers discounts on their invoices if they pay them early. You choose the discount percentage you offer your customer for eligible approved invoices, which lets them decide whether they want to pay early to receive the discount. By incentivizing customers to pay early for discounts, you increase your working capital by receiving payments early.
Your Coupa customer has to enroll you in their Discounting program for you to use early payment requests successfully. For more information, see Set Early Payment Discounts Preferences.
Use Early Payment Discounts on Approved Invoices
Review invoices eligible for early payment
You can review the invoices you are eligible to request early payment for by going to Payments > Early Payments.
The Invoices table below the tiles shows you the invoices that you can submit for early payment.
| Column | Description |
|---|---|
| Invoice # | Invoice number. |
| Invoice Date | Date the invoice was created. |
| Due Date | Date the invoice is due for payment. |
| Discount Rate | Early Payment Discount percentage offered (if any). |
| Original Amount | Total invoice amount before discounts. |
| Cost for Early Payment | Discount amount. |
| Net Amount | Total invoice amount after discounts are applied. |
| Days Paid Early | How many days before the invoice due date the invoice was paid. |
| Status | Status of the invoice. |
| Actions | Options to submit the invoice for early payment or view the payment request for submitted invoices. |
Understand the status of eligible invoices for early payment requests
You can filter for and see the status of an eligible invoice in the table:
- Eligible: Invoice is eligible for early payment.
- Submitted: Invoice submitted for Early Payment Request and pending customer's decision.
- Expired: Invoice submitted for Early Payment Request but customer didn’t act on it by the end of the following business day. You can re-submit it again for early payment.
- Pending Review: Invoice submitted for Early Payment Request but pending customer’s review.
- Invalid: Invoice is no longer eligible for early payment.
- Rejected: Invoice submitted for early payment but rejected by the customer.
- Accepted: Invoice submitted for early payment and accepted by the customer.
- Paid Early: Invoice submitted for early payment, accepted, and paid early by the customer
Review early payment requests
When you select the Get Paid Faster option from your customer's GET PAID EARLY email or from the Invoices table on Early Payments, the CSP navigates you to the Payment Request Details screen that shows you more information about the request.
Payment Request Details
| Column/Tile | Description |
|---|---|
| Original Total |
Total invoice amount before discounts. |
| Cost for Early Payment | Discount amount. |
| Net Total | Total invoice amount after discounts are applied. |
| Expected Payment Date | Date the invoice is expected to be paid early. |
| Column | Description |
|---|---|
| Invoice # |
Invoice number. |
| Invoice Date |
Date the invoice was created. |
| Due Date |
Date the invoice is due. |
| Original Amount | Total invoice amount before discounts. |
| Discount Rate | Early Payment Discount percentage offered. |
| Cost for Early Payment | Discount amount. |
| Net Amount | Total invoice amount after discounts are applied. |
| Days Paid Early |
Number of days before the invoice due date that it was paid. |
Submit an early payment request
- Go to Payments > Early Payments.
- In the Eligible Invoices table, select the invoice(s) with an Eligible status that you want to submit for early payment by clicking the the Get Paid Faster
icon. You can select multiple invoices if they have the same due date. - In the Payment Request Details table, enter the discount percentage you want to offer your customer in the Rate field under Cost for Early Payment.
- Click Submit.
- If the Rate that you offer matches your customer's offer, you get an Accepted notification under the Expected Payment Date for the invoice.
- If your rate does not match your customer's, you get a rejection notification. You can then change your Rate under Cost for Early Payment and resubmit it.
Enable Auto Discount
If you want to take advantage of every discounting opportunity for all your invoices, you can activate the Enable Auto Discount feature at the top right of the Invoices table. This will automatically discount all future invoices.
The discount Rate and Cost for Early Payment are then automatically based on how early you get paid.
Use Draft Credit Notes on Approved Invoices
To account for an early payment discount on an approved invoice, many countries require you as supplier to issue a credit note to to the buyer. The creation of credit notes to handle discounts primarily applies to customers in the EMEA (Europe, the Middle East, and Africa) region due to legal compliance regulations, where the discount amount directly impacts how much tax is due.
Coupa makes this process easier by creating a draft credit note for you when early payment is made by the buyer. This credit note is helpful for both you and your Coupa customer to balance out your invoiced and paid amounts.
Apply auto created draft credit note from a discounted invoice
When a customer makes the discounted payment to you, the system will create a draft version of a credit note for the discount amount.
- From the Invoices table on the CSP, search for the draft Credit Note using the View filter.
- Select the Edit icon
to open the invoice.
- If necessary, you can update
- Credit Note #
- Credit Note Date
-
Submit the credit note to your customer to apply the discount.
For the draft Credit Note, the Original Invoice #, Original Invoice Date, and Amount fields are pre-populated and can’t be edited.
Auto submit credit notes for discounted invoices
When you participate in Early Payment Discount (EPD) programs that offer After Invoice Approval discounts, your Coupa customers can request the auto submission of credit notes on discounted invoices.
After a customer activates the credit note request, the next time you open an early payment request you will see a required checkbox with the text below for the Terms of Use:
By checking this box, you authorize Coupa to automatically create and release on your behalf, this and all future early payment discount (EPD) credit notes to this and all other customers that offer an early payment program of which your business is a participant.
You are required to select this checkbox once in order to submit any early payment requests for After Invoice Approval discount programs.
Once you accept these terms of use, the system will automatically generate and submit a credit note for every new discounted invoice at the time an early payment is made to you.
The credit note submitted to your customer will have a reference number that is a combination of EPD- (Early Payment Discount) and the invoice number.
Set Up Early Pay Discounts
As a supplier, you can set up your preferences for early pay discounts from the Early Pay Discounts page. For more information, see How do Early Pay Discounts (EPD) work?.