Verification

Once the service is provided or the product has been delivered, we must verify, with whoever is paying for the invoice, its accuracy.

Advance rate

The percentage of the invoice’s face value that will be disbursed to our client upon verification of the invoice.

Fee

The price of our service expressed as a percentage of the invoice’s face value. It contains the price for our verification process, and our collection efforts done on our customers behalf.

Reserve

Once payment for an invoice is received, we subtract the money advanced and our fee. The excess goes into an account called the reserve. This is disbursed to our customer as soon as 24 hours after the payment is received.

Accounts receivable

This is an item under the current assets in a company’s balance sheet. It reflects the money that is owed to a company for services performed or product that has already been delivered to customers. The invoices that will be, but have not yet paid should be included under accounts receivable.

Invoice

A document, bill with a list of goods shipped or services performed to a customer. It should contain the Customer’s name and address. The list of goods shipped and services performed with a total amount. It should have a date and the terms on which payment is expected.

Accounts receivable aging report

This may be the single most important document for our due diligence. It is a report that shows how long the amounts owed by a business’ clients have been outstanding.

Call us today to get started at 786.972.4753.