Bill payments
All you need to specify is the contact to which the bill payment was made. DoubleAgent will do the rest, though what it does depends on whether the bills are in the same currency as your bank account.
Same currency bills (bill currency is same as bank account currency)
DoubleAgent will find the earliest unpaid bill for your contact and use the payment to settle (or contribute towards settling) the bill.
If there is money left over from the payment, the process starts again: DoubleAgent looks for your contact's earliest unpaid bill and pays off as much as it can.
Example
Let's say you have:
- Bill A: £20
- Bill B: £15
- Bill C: £10
– and a payment of £40, DoubleAgent will settle bills A and B in full, and £5 of bill C.
In a nutshell, DoubleAgent pays as many bills as it can.
Different currency bills (bill currency differs from bank account currency)
DoubleAgent will find the earliest unpaid bill for your contact. It will check whether the bill's current value in your bank account's currency is within 5% of your payment. If it is, DoubleAgent will use the payment in its entirety to settle the bill in full. If not, it will move on to consider the next bill.
Example
Let's say you have:
- Bill A: $1 (current GBP value 75p)
- Bill B: $50 (current GBP value £37)
- Bill C: $15 (current GBP value £11)
- Bill D: $10 (current GBP value £8)
– and a payment of £11.50, DoubleAgent will skip bills A and B, and settle bill C in full with the entire payment. It will stop there and not consider bill D.
In a nutshell, DoubleAgent pays a single bill in full with your payment – but only if the amounts look right.
Finally
We always recommend doing a dry run (by clicking the Dry Run button) to see whether your rule does what you want.
