Allocate debtor remittances automatically, not by hand
The money comes in from debtors you did not choose, in amounts that rarely match the invoice, with references that rarely help. Allocating it to the right client and invoice is the daily grind of invoice finance, and it is almost entirely manual.
Unreferenced money, manual allocation
A debtor pays, but pays a round number, or several invoices at once, or with a reference that means something to them and nothing to you. The remittance lands and someone has to work out whose it is and which invoices it clears.
Multiply that across every client's debtor ledger and allocation becomes a full-time job that never quite closes, with cash sitting unallocated and client positions a day behind.
Then advances go out to clients and fees come in, on separate rails, and the client's true availability is a calculation nobody trusts until it is reconciled.
The payment mix that fits
Not one rail. The two to four that match how money actually moves here.
Give each client or debtor a virtual account so inbound money is attributed on arrival.
Advance funds to clients the same day, referenced.
Collect fees and charges on a mandate, reconciled against the client.
Your flow of funds, orchestrated
Each client, and where useful each debtor, is given a virtual account, so a debtor remittance is attributed to the right client and invoice the moment it arrives instead of being allocated by hand. Advances go out to clients over Faster Payments. Fees collect over Direct Debit. Inbound remittances, advances and fees reconcile per client on one ledger, so availability is live, not a day behind.
Every book moves money differently. We map your flow of funds and quote one integration across the rails that fit.
Related
Payments for invoice finance and factoring: FAQs
By giving each client, and where useful each debtor, a virtual account, so inbound money is attributed to the right client and invoice on arrival rather than allocated manually.
Yes. Inbound remittances, advances and fees reconcile per client on one ledger, so availability updates as money moves rather than after a manual reconciliation.
Over Faster Payments, the same day, referenced so the client can reconcile them too.
Tell us how you get paid
Send us the mix of payments you take and make, and we will quote one integration across the rails that fit, priced on your volume.