A reward can be in one of 4 statuses:            

Once an Reward has been approved it will appear in the recipients profile:

The final step is for you to process your payment. Once this is complete a reward can be marked as paid in the reward list ion the administration view and in the recipients profile. 

To mark as Paid this simply go to the approved reward that you have processed payment on.

Press and then

You will be asked to enter the payment reference and press process payment

The reward is now marked as paid and includes the payment reference. 

To see how to sign off or approve a reward follow this article.