Making Invoice Finance Easier
We’re excited to launch accounting integration. This will help to automate processes for clients with cloud-based accounting packages, reducing administration, delivering faster funding and enabling a more streamlined experience.
Read more about how it works, the benefits it will provide, and find answers to our frequently asked questions below.
How it works
Availability automatically updated
Faster access to funds on your new invoices.
Take the hassle out of administration – no need to do invoice uploads.
Makes book-keeping a breeze – For Xero customers there are additional benefits with write back functionality that writes back fees to your accounting package therefore further removing administrative aspects.
What are our customers saying about us?
It’s growth funding that gets us the best from our working capital, which covers materials, wages and other costs while we wait to be paid for our goods.
We think of ScotPac more than just a Financial Services provider, they care enough to know our business and as such we are more like partners
ScotPac have assisted a number of our clients in time critical situations and are highly experienced cash flow lenders.
ScotPac make the effort to understand us and really partner with us. Its a lot more flexible than dealing with banks.
For us, the real advantage of invoice finance is that we can offer longer payment terms to customers thanks to ScotPac.
What does integration mean?
You connect your accounting software to ScotPac’s system. Our system syncs with your accounting package every 4 hours, therefore, as new invoices and credit notes are raised, your availability on your Invoice Finance facility is automatically updated, removing the need for you to manually upload these invoices via your ScotPac portal.
How would I benefit?
1. Faster access to funds on new invoices.
2. Take the hassle out of administration – no need to do invoice uploads
3. Makes book-keeping a breeze – For Xero customers there are additional benefits with write back functionality that writes back fees to your accounting package therefore further removing administrative aspects.
What accounting packages are compatible with this functionality?
Cloud based packages are compatible as below;
MYOB – Account Right
MYOB – Essentials
MYOB – Business
What data does ScotPac see?
We access the following information stored on your account;
• Business details: Including your business name, business address, contact details and tax rate.
• Financial reports: Including your profit and loss statement and balance sheet.
• Accounting data: Including your invoices, bank transactions, payments, credit notes and chart of accounts.
• Contacts: Including your customers, suppliers and other contacts held on your accounting package.
We will have access to the above data for the duration of your credit facility unless you revoke our access by disconnecting this app in your account.
How secure is it?
Your credentials are encrypted, and we will never store your password. Your data is transferred using industry standard 256-bit TLS encryption technology. We house your data within an Australian data centre, configured with multiple firewalls and network intrusion detection technology.
What if I don’t have cloud- based accounting?
We partner with Xero, and they’ve put together a special offer for ScotPac clients. For more details click here or reach out to your Relationship Manager.