Notice of assignment and repayment
How the buyer is told where to pay, and how repayment is recorded.
Notice of assignment
When an invoice has been financed, it is assigned to Vender. The buyer receives a notice of assignment by email with the amount, the due date, the account to pay and a payment reference. Paying the supplier no longer settles the invoice.
Vender also marks the invoice in the buyer's accounting system: in Fortnox it is excluded from the payment file and the comment shows the payment details; in Spiris a note with the payment details is added to the invoice.
Repayment
On the due date the buyer pays the invoice amount to the account in the notice, with the reference. When Vender has received the money, the invoice is marked as paid in Vender.
The buyer books the payment in their own accounting system as usual. Vender never records payments in the buyer's books, so nothing is booked twice.
Checks
Every 15 minutes Vender compares each financed invoice with the buyer's accounting system: amount, due date, credit notes, the payment block and the notice. If something differs, our team is alerted. If the payment block or the notice has been removed, Vender puts it back.