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Novi Pay: Settings & Documents

Manage business information, accounts, and refund settings in the Novi Pay Settings & Documents tab

Kate Scott avatar
Written by Kate Scott
Updated this week

The Novi Pay Settings & Documents tab gives Association Admins with Special Accounting Privileges built-in access to account information, refund settings, failed transaction fees, and notification settings.

Click below for specific section details:


Deposit Account

This is where the association can connect the bank account for deposits and indicate the QuickBooks account to which it should be mapped.

When a payout from Novi Pay is processed, two things will happen:

  1. A deposit will be made to the connected bank account

  2. A batch deposit transaction will be recorded in QuickBooks Online

The connected account will default to the account that was entered in the Novi Pay application. Association Admins with Special Accounting Privileges can change the account in Account Details or by clicking Update Bank Account.


Fee Accounting

Novi Pay will automatically deduct our fees from your payouts. The Fee Accounting section is where you determine the QuickBooks General Ledger Account and Class where the processing fees should be recorded.

The processing fees will be included in the recorded QuickBooks batch deposit for easy reconciling.


Refund Delay Process

Novi Pay allows you to hold Refunds in a pending status while you accrue a positive balance in your Novi Pay account.

For example, your current Novi Pay Available Balance is $50.00 and you issue a refund for $100.00. The Refund Delay Processing will delay issuing the refund until your Novi Pay Available Balance covers the total refund. This allows you to avoid a negative balance and a fee to top up your account.

These settings include:

  • Wait Up to: the number of days to delay (1 - 5 days)

    • Default: 2 Business Days

  • Refund Processing Order: the order in which refunds should be processed based on their age or amount.

    • Default: Oldest to Most Recent


Top-ups

Association Admins with Special Accounting Privileges will be required to add a payment method for Top-ups.

Top-ups cover negative balances. When there’s no Available Balance to offset disputes, refunds, or failed ACH payments, Novi Pay automatically charges a stored payment method. An Account Debits Fee applies to each top-up. Novi Pay automatically charges a stored payment method once the Refund Delay has expired. If your Primary payment method fails and you haven’t set a Secondary, your account may stay negative and Novi Pay features could be limited until the balance is resolved.

While only a primary account is required, a secondary bank account is recommended for Top-ups. To add/change a new payment method:

  1. Click Add New Payment Method

  2. Enter your bank account information using Stripes secure connection

  3. Click Save in the Add Payment Method modal

After saving the new payment method, it will be available to enter as the Primary or Secondary bank account.

Note: If you add a Secondary Bank Account for Top-ups, it must be a different bank account than your Primary Bank Account for Top-ups.


Pass Along Failed ACH Fees to Members & Customers

When an ACH payment from one of your members or customers fails (generally a result of insufficient funds or closed accounts), Novi Pay automatically charges your association a fee for the failed transactions.

This setting allows you to automatically pass the fee along to the member or customer.

You determine:

  • Failed ACH Pass-Through Amount: how much the member or customer is charged

  • Failed ACH Pass-Through Item: the QuickBooks Online Item (product/service) that will be used on invoices for the pass-through charge

  • Failed ACH Pass-Through Class: the QuickBooks Online Class that will be used for the charge

When an ACH payment fails, the Payment transactions will be voided and the original invoice will have a new line item for this Failed ACH fee.

Learn more about the ACH payment process with Novi Pay


Pass Along Dispute Fees to Members & Customers

When a charge from your association is disputed, Novi Pay automatically charges your association a fee. If the dispute is resolved in favor of the association, this setting allows you to automatically pass the fee along to the member or customer.

You determine:

  • Dispute Fee Amount: how much the member or customer is charged

  • Dispute Fee Item: the QuickBooks Online Item (product/service) that will be used to record the fee


Novi Pay Email Notifications

Determine which emails will receive Novi Pay notifications and what notifications they will receive.

Association Admins with Special Accounting Privileges will automatically be added to the list of email addresses to receive notifications. Additional emails can be manually added.

Notifications include:

  • Payout Successful

  • Payout Failed

  • Deposit Reconciliation Successful

  • Deposit Reconciliation Failed

  • Payment Received

  • Refund Processed

  • Transaction Disputed

Note: These notification settings are universal for all email addresses included in the Email addresses to receive notifications. Consider checking with your team when making changes to notification settings. Tip: Set up folder automations in your email client (Outlook, Gmail, etc) to route Novi Pay emails into a specific folder if you need them for history but not action items.


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