c2fo quick reference guide c2fo 3 easy steps · this shows the actual cost to get paid early by...

Support: 1.888.980.9025

C2FO Quick Reference Guide

C2FO 3 Easy Steps

| ©2014 C2FO. All rights reserved 1 Quick Reference Guide | 10.17

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

Once you have selected your invoices, set the “Participate” button to On, and choose a discount. This works like a traditional discount for early payment, but you control your total cost! At 10 AM CST, Monday through Friday, your customer will decide to accept your offer. If they accept, you are awarded early payment on the next pay date displayed in the app. Payment still comes directly from your customer. If your offer is not accepted there is no cost to you, and you will be paid when the invoice is normally due. But you can update your offer before 10 AM CST the next day until your customer accepts.

You determine the rate you are willing to pay to receive early payment for those invoices.

Select your password: •  8 characters long •  At least one number •  one uppercase letter •  one lowercase letter ex: Password1

You will be notified by C2FO when your account has new invoices available. Simply follow the link in the email and select a password. You can log in to your account at anytime by entering your user name (your email address) and the password you create.

Your customer adds approved invoices to C2FO. View your approved invoices and decide if you would like to request early payment. You can request early payment for as few or as many invoices as you want.

1

Access your account

3

Request early payment

2

Manage your invoices

1  Markets This is a summary of all of your Markets (customers) and Divisions (your company) in C2FO, including current early payment offer status and available A/R.

2  Setting a Global Offer You can set one discount for all of your divisions by entering an offer at the top of the page. Once you enter your offer and click go, all of your divisions’ clearing status (#5) will update. You can adjust the discount if needed.

3 Setting an Individual Offer You can adjust the discount for individual divisions by hovering over their MAX OFFER.

4  Available A/R This is the total amount of available invoices that have been approved for early payment.

5  Clearing Status If you have set an offer, then you will be able to see the total amount of A/R that will be paid early at your current offer. If none of your Available A/R is clearing, you may want to increase your offer. Your Markets may vary due to demand.

1

3 2

4

5

Support: 1.888.980.9025


Manage your invoices

In C2FO your customers are referred to as Markets. The Receivables screen (below) is a summary of all your Markets. For example, if your customers are Costco and Amazon you will have access to Costco and Amazon Markets. Your company name is listed as a Division under each Market. For example, you could do business with Costco as “Kemmer, Stroman and Feeney”, but call yourself “Kemmer & Sons” when doing business with Amazon.

Call 1.888.980.9025 if you have a customer that is not listed on your receivables screen.

To manage your invoices click on the DIVISION


Costco

Amazon

PetSmart

Walgreens

Rite Aid

ToysRUs

Kemmer & Sons

Kemmer & Sons

Kemmer, Storman & Feeney


Kemmer & Sons


1

2

3 5

6 7

4

4 Active, Adjustments, & Inactive tab — Active invoices are those that are eligible to participate in the market.

— Adjusted invoices are those that have been subjected to a credit, reserve, hold back etc. by your customer.

— Inactive invoices are those that are no longer eligible to participate.

5 Discount dollar total by invoice This shows the actual cost to get paid early by invoice, based off of your current APR or discount offer.

6 Invoice status filter — Blue/eligible status means that the invoice is eligible for early payment.

— Green/clearing status means that the invoice is currently going to be paid early if Participate in on at 10 AM CST

— Orange status means that the invoice is subject to an adjustment (whole or partial) or the invoice is excluded.

7 Download invoices This button allows you to download your current eligible invoices for review.

1 Invoice tabs You can toggle between your current invoices and your market history. Your market history allows you to download invoices awarded in previous market clears, by date.

2 Search invoices Set criteria to view specific invoices to include or exclude them from the market.

3 Invoice detail Individually review the detail of every eligible invoice. You have the ability to exclude invoices you do not wish to bid on at any time, by clicking on the drop down arrow next to each invoice.

Support: 1.888.980.9025


Reviewing invoices and early payment


Start by reviewing your total available invoices. You can see specific invoice details displayed in a grid directly on the invoice detail page. Invoices are categorized by active, inactive and adjustments. You can download your eligible invoices for further analysis in an excel file or filter your invoices by status. You can then include/exclude specific invoices before setting your early payment offer. Once you have set an offer, the status of your invoices will update. You have until 10 AM CST to adjust your offer. At 10 AM CST, if “Participate” is set to On, your offer will be submitted to your customer for approval.

Support: 1.888.980.9025


Submitting an early payment offer Simply enter a maximum APR or discount you would be willing to offer for early payment and click submit max offer. C2FO awards early payments at the most competitive APR and discount rates across the market. APR vs Discount APR bidding ensures you are receiving the optimal rate across all of your invoices. Often you will set an offer for invoices that are due on different days. If you offer in APR, these due dates are taken into consideration as “Days Paid Early”, or DPE. For example, if you have 3 invoices available for early payment, one due in 5 days (5 DPE), one due in 15 days (15 DPE) and one due in 30 days (30 DPE) and you set your Offer at 6% APR, the 5 DPE invoice will be automatically assigned a 9 basis point discount , the 15 DPE invoice will be assigned a 25 basis point discount and the 30 DPE invoice will be assigned a discount of 50 basis points. Offers set in Discount do not take into consideration DPE, and all 3 invoices in the example above would be assigned the discount that you choose. How is the discount calculated if I place an APR offer? 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%]

The Receivables navigation takes you back to your C2FO account summary view

4 Input your maximum offer C2FO will submit the best offer it thinks your customer will accept, up to your maximum. Depending on demand, early payment offers can be accepted below your maximum!

5 Total amount currently clearing This will display the total amount that is currently accepted for early payment on each customer’s respective new pay dates.

6 Total dollar amount of discounts This is the total cost of discounts that are being deducted across all of your currently clearing invoices.

7 Market history You can download an award history file to review, and to keep record of the market closing and award details.

1 Available A/R & invoice count This is the total dollar amount of approved invoices that are eligible for early payment in your C2FO market. You will also see the total number of unique invoices here.

2 Current APR & discount See your current APR (or discount) offered on the invoices that are in a status to be awarded today. Markets close daily at 10 AM CST, and accepted offers will be paid on your customer’s new pay date.

3 Participation Participation is set to off by default. Turning it on enables your participation in current and future markets, but nothing is submitted to your customer until 10 AM CST.

1

7

2

3

4

5 6


c2fo quick reference guide c2fo 3 easy steps · this shows the actual cost to get paid early by...

Documents