You can use the Rho platform's AP Automation software to effectively schedule payments and manage vendor terms.

After an invoice is approved, Rho allows you to select a specific future date for the payment to be initiated. This enables you to schedule payments to align precisely with vendor due dates (e.g., Net 30, Net 60), helping you hold onto cash longer to optimize working capital while still ensuring timely payments to maintain good vendor relationships. Scheduled payments are clearly visible in the platform for cash flow forecasting.

Nuances & Considerations

• Payment Method Timing: The initiation date is scheduled; actual settlement time depends on the payment method (ACH takes days, wires are faster). Factor this in when scheduling near due dates.
• Dynamic Discounting: Rho doesn't currently offer complex dynamic discounting features (automatically calculating and capturing early payment discounts), though scheduling allows manual capture.
• Editing Scheduled Payments: Understand the process and deadlines for modifying or canceling a payment once it's scheduled.

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