![]() So whether you are just beginning to trade internationally or have already established a successful overseas business, we have the right product for you. Our experienced international funding lenders are skilled at managing language and culture barriers and making sure you get paid in your chosen currency, as well as having the capacity to work across different time zones. What makes us the right choice is that we can help whether you have just one overseas client or whether 100% of your business is international, unlike most funders who prefer at least some of your trade to be UK-based. Simply Factoring Brokers puts the right finance in place for firms exporting goods or services abroad. ![]() Trading internationally can be exciting and profitable for your business, but there are considerations that don’t apply when working with clients in the UK, and this is where we can help. A factoring broker is an alternative business finance professional who helps clients find and select factoring deals. When recording bills with advances be sure to only record the balanced owed to the carrier after the advance is given.When you trade with overseas companies, having the right international funding in place can be the difference between success and failure. *Note - only brokers will have to map payees for Third-Party Carries that have bills received in your accounting management. Factoring allows freight brokers to pay carriers & cover business costs right away instead of waiting 30-90 days for payment. You Can search for these entities or you can click the “click here to create a new company” button if you get no resultsįrom here just fill out the fields and click the “Submit for approval” Button.įollow the same steps if you need to map your Payees as well. If this is the first time factoring for this customer or carrier for our broker users you will have to map your debtors and payees. There is a key at the bottom of this page to help you indicate whether the invoice has been selected to be sent or not.Ī summary of the number of invoices will appear and it shows the net income of the invoices that you are sending to be factored in. If you have any questions about Document Management with AscendTMS click here to learn how easy it can beĪfter you have those required documents, select the invoice or invoices that you want to send for factoring.Īfter you have chosen the invoice date, at the top of your accounting module, click the “factor invoice” button.Ī module will appear with all the invoices you have selected and you can choose to send all of these to invoices to Axle payments or select each one here on the right-hand side. If you need to learn about how to use Accounting management, click hereįactoring a load with AscendTMS and Axle Payments is simple, fast, and convenient.īefore we start with anything there are some required documents that need to be attached to a load to be able to be sent to Axle Payments!įor our Carrier users, you have to have a signed POD uploaded to the load and labeled as “POD” when processing the document.īrokers will need that and an uploaded “Carrier Invoice” Attached to the load. Now that you’re connected, you can instantly factor your loads from your Accounting Management tool inside of AscendTMS. Then just click the “Connect To Axle Button” and enter in the API key you have received from Axle Payments. The factor buys the receivables at a discount. ![]() With the Settings area open, choose the "Add or Edit Factoring Settings" link located under the Premium Features and Billing Details category. Invoice factoring is the act of selling your receivables to a factoring company other wise known as a factor. A business will sometimes factor its receivable assets to meet its present and immediate cash needs. Once you have your API key, navigate to the Settings menu on the lower-left side of Ascend TMS. Factoring is a financial transaction and a type of debtor finance in which a business sells its accounts receivable (i.e., invoices) to a third party (called a factor) at a discount. We will also look at other finance options like business loans. To begin maximizing your cash flow with the Axle Payments integration available in Ascend TMS, the first thing you’ll need to do is get your Axle Payments API Key. Updated December 16th, 2021In this article we are going to discuss Invoice Factoring for Energy Brokers, as a way to ease cashflow issues. Axle Payments is the all-in-one financial partner for freight brokers.
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