Quick reference guide

Transcription

1 Quick reference guide Access your account Manage your invoices Request Early Payment Your customer created a free C2FO account where you can manage your invoices. Your customer adds your approved invoices for you to view and request early payment when needed. You determine the rate you are willing to pay to receive early payment for those invoices. You will be notified by C2FO when your account has new invoices available. Simply follow the link in the and select a password. You can log in to your account at anytime by entering your user name which is your address and the password you create. Your customer adds approved invoices to C2FO. View your early payment opportunity to decide if you would like to offer an early payment discount. C2FO is an optional free program. The only charge is the nominal discount amount that you decide if your early payment offer is accepted. If you are awarded early payment from your customer through The C2FO Market, your early payment will be processed on your customer s next pay date listed on your invoice summary and award file. Your payment process doesn t change. You will receive payment directly from your customer. The market clears daily (M-F) 12pm EST / 5pm GMT. If your offer is accepted, payment will be sent by the usual method, only sooner.

2 Quick reference guide - Markets page Global offer Use this to apply an APR or Discount across all of your A/R Market clear Always know when the market will clear with this timer Global participation Turn participation on for all of your divisions with one click AUTO BODY PAINT DEPO! VIEW INVOICES You have $128, of eligible invoices with Costco (USD). Set an offer to get paid early by an average of 47 days. CONFIGURE OFFER Configuring offer Use this button to configure your first-time offers on divisions Customer service Your customer service representative is a click away

3 Quick reference guide - Division page Market advisor We ll provide information to help maximize your success Market settings Set or adjust your offer, and control participation Invoice categories See all of your approved invoices organized by type Current statistics Up-to-the-minute market stats at your fingertips Invoice filtering Only participate with the invoices you want

4 Quick reference guide - Market history page Market history Track your success in the market and download award files Inividual files Find out what happened each day down to the invoice level

5 Quick Glossary reference guide Available A/R: Total amount of your approved invoices available for early payment. Clearing: Amount of A/R that will be awarded early payment if current market conditions persist. Discount: Amount applied in exchange for early payment. Division: The name your customer has assigned to each vendor number for your company. DPE: Days Paid Early. Average number of days your payment could be accelerated. Non Clearing: Amount of A/R that will not be awarded early if current market conditions persist. Offer: Maximum rate you are willing to apply in exchange for early payment. Participation: Indicates whether you have an active offer for that division. Pay Date: Date that your customer will initiate early payment if your offer is accepted. Normal float time applies. APR vs Discount APR bidding smooths things out. Invoice payment dates vary across your customers and aging of your invoices varies depending on when you participate in the C2FO market. As an example: if you have 3 invoices available for early payment, one due in 5 days, one due in 15 days and one due in 30 days and you set your offer agent at 6% APR, the 5 day invoice will be automatically assigned a 8.3 basis point discount, the 15 day invoice will be assigned a 25 basis point discount and the 30 day invoice will be assigned a discount of 50 basis points. Comparing the original due date to the new payment date, C2FO calculates the days paid early (DPE) for each invoice. The discount rate is then calculated as [APR% * (DPE/360)]. For example, if the APR offer is 12% and the invoice can be paid 30 days early, the discount rate would be 1.00% [12% * (30/360) = 1.00%]