Payment Status
Payment status indicates where a payment is in its lifecycle. In Peasy, payment statuses help you track whether money has actually moved or if action is needed.
How It Works in Peasy
- Pending: The payment has been initiated but not yet confirmed
- Confirmed: The payment provider has accepted the payment; it's being processed (ACH transfers take 1-3 business days)
- Settled: The payment has completed and funds have been transferred successfully
- Failed: The payment did not go through (insufficient funds, invalid account, etc.)
- Reversed: A previously settled payment was reversed (chargeback, refund, or dispute)
- Payment statuses update automatically as the payment provider processes the transaction
- Failed payments can be retried or a new payment can be initiated
Why It Matters
Payment status tells you whether you've actually been paid or whether you've actually paid a vendor — not just whether someone clicked a button. Monitoring statuses helps you catch failed payments quickly and follow up before they become overdue.