Resource Overview

Accounts

Accounts are connections that can be used for receiving and/or sending money.

:bank: When sending Payables, you will typically use an Account of type=bank as a funding source.
:bank: When sending a Payable using expedited delivery methods like ach-same-day, ach-next-day, or real-time-payment, you must use an account of type=balance. You will always have exactly one balance Account. This special Account models your pre-funded Routable balance. Learn more about your Routable balance here.

AccountingSoftwareObject

An AccountingSoftwareObject models categories and other identifiers in your accounting software or ERP. Routable includes this resource type so that you can query your accounting software from within the Routable API to obtain a list of any supported object type, such as accounts in your chart of accounts or tax codes.

Companies

A Company represents a business or individual that you do business with. A company can be a vendor, who you pay, or customer, who pays you (or both, when linked manually to your ledger via the Routable dashboard).

To send a payable or receivable, you must first create a company.

Contacts

Each Company can have one or more Contacts that can be the recipients of emails related to the business. Examples of when a contact might receive an email include:

:incoming-envelope: Being invited to submit their company and banking information.
:incoming-envelope: Being notified that they've been paid.

To make it easier to work with our APIs, we have default_contact_* fields that specify which contacts will receive what types of notifications.

Payables

A Payable is a payment from you to another company.

With Routable, you can send a payment immediately via check or ACH or schedule it to be sent on a future date.

You can specify the bank account or address to send to, or you can have your vendor go through your branded flow and submit it themselves.

You can even mark a payment as paid externally and use Routable as the bridge between you and your accounting software.

Payment Methods

Companies have Payment Methods that are used when sending payables. Please note that there are three different types of payment methods: address, bank, and international. Each is used for a specific type of Payable:

PaymentMethod TypeUsed for Payable Type
addresscheck
bankach
internationalinternational

Each Company may have up to six payment methods.

Purpose Codes

When sending Cross-Border Payments to certain countries, the financial regulations in those countries require a purpose code to track the reason for sending funds.

Receivables

Much like their Payable siblings, Receivables are all about transfers of funds between you and your partner Companies, but where the Company is paying you rather than you paying them. You can specify the invoice terms and, optionally, a date to send the notification, or you can flag a Receivable as having been paid externally. Your customers will receive an email with a link to a Routable-hosted user interface, branded with your logo and colors, on which they can easily enter payment information and pay their balance using an ACH transfer. Just like Payables, everything syncs seamlessly with your accounting software.

Team Members

Team Members are individual users of your account on Routable. Team Member IDs are commonly referenced in the Acting Team Member field when making requests so we can attribute actions in the dashboard to specific team members and include their names and avatars in outgoing email communications.


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