Making Invoice Finance Easier
We’re excited to launch ScotPac Sync. This will help to automate processes for clients with cloud-based accounting packages, reducing administration, delivering faster funding and enabling a more streamlined experience in managing your Invoice Finance facility.
Through integration between ScotPac’s system and your accounting software, we’re able to automatically update your funding availability when you raise new invoices, removing the need for you to do manual invoice uploads to our portal.
Read more about how it works, the benefits it will provide, and find answers to our frequently asked questions below.
How it works
Connect
Availability automatically updated
Draw funds
Benefits
Faster access to funds on your new invoices.
Take the hassle out of administration – no need to do invoice uploads.
FAQs
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
What accounting packages are compatible with this functionality?
Cloud based packages are compatible as below;
Xero
MYOB – Account Right
MYOB – Essentials
MYOB – Business
Quickbooks
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.
We help a range of different industries reach their full potential