Services
The Adfin Platform is an invoice distribution and payment platform that allows you to create, distribute, manage reminders and manage payments for invoices via your Adfin account. The services may be enabled / disabled or utilised in whole or in part in line with the clients request and where supported by Adfin, and generally include the following:
1. Invoice Creation and Distribution
The Adfin platform provides a seamless solution for creating and distributing professional invoices directly through your Adfin account. Users can customize invoice templates, add essential details, and effortlessly send them to clients via email or other preferred delivery methods, for example WhatsApp and SMS.
2. Automated Payment Management
Adfin streamlines payment management by integrating to secure payment gateways, Adyen and Tink, allowing clients to settle invoices directly from the platform. Payments can be made via various methods, including credit/debit cards, bank transfers, and digital wallets, ensuring convenience for both you and your clients.
3. Automated Reminders and Notifications
Reduce late payments with Adfin’s automated reminder system. The platform allows you to schedule reminders for upcoming due dates, overdue invoices, and payment confirmations. Notifications are sent to clients,via email, WhatsAPP and / or SMS ensuring timely follow-ups without manual intervention.
4. Invoice Tracking and Status Management
Gain real-time visibility into the status of your invoices. Adfin allows you to track when invoices are sent, viewed, and paid, providing transparency and improving cash flow management. Where integrated into a general ledger platform, such as Xero, statuses are synchronised into the general ledger.
5. Payment Reconciliation
Simplify your accounting process with Adfin’s payment reconciliation feature. Payments received are automatically matched with corresponding invoices, saving you time and reducing errors.
8. Secure and Compliant Platform
Adfin ensures the security of your data and payments with advanced encryption and compliance with global financial regulations. Your transactions remain safe, reliable, and fully compliant with industry standards.
9. Settlement of Funds into Client Accounts
Adfin ensures a seamless and efficient process for settling funds directly into your designated client account. Our platform is designed to provide timely and transparent transfers, ensuring you maintain consistent cash flow for your business operations.
a. Timely Fund Settlement
Once payments are collected through the Adfin platform, the funds are processed and settled into your nominated bank account. Settlement timelines are optimized to ensure you receive your funds promptly, typically timelines for settlement are:
- Cards, including ApplePay and GooglePay - 2-3 working days
- Pay by Bank - funds typically settle instantly but can take up to 2 hours
- Direct Debit - 4 working days after the payment is debited from the customer account
b. Payment Breakdown
Adfin provides a detailed breakdown of all settled funds, including payment amounts, processing fees (if applicable), and corresponding invoice references
c. Automated Notifications
Stay informed with automated notifications at every stage of the settlement process. You’ll receive alerts when payments are initiated, completed, or if any issues arise.
Creation of Direct Debit Mandates
Adfin simplifies the setup and management of Direct Debit Mandates, enabling you to collect payments seamlessly and on time.
a. Easy Direct Debit Setup
Through the Adfin platform, clients can authorize Direct Debit mandates with a simple and secure online process. Once a mandate is created, payments will be collected automatically without the need for manual intervention.
b. Client Authorization and Compliance
Adfin ensures that all mandates are fully authorized by clients, complying with financial regulations and Direct Debit scheme rules. A clear digital record of the mandate is maintained for transparency and audit purposes.
c. Security
All Direct Debit mandates are handled securely, with robust encryption protocols protecting sensitive client and payment data. Adfin adheres to industry compliance standards, ensuring the process is both secure and reliable.
Integration with Xero
Adfin seamlessly integrates with Xero, enabling you to streamline your invoicing and payment management processes. This powerful integration ensures that your financial data remains accurate, up-to-date, and easily accessible.
a. Sync Invoices to Xero
Effortlessly pass invoices created on the Adfin platform to your Xero account. With a single click, invoices are automatically transferred, ensuring consistency across both platforms.
b. Real-Time Payment Status Updates
Payments made through Adfin are automatically synced to Xero, updating invoice statuses in real time. Whether an invoice is fully paid, partially paid, or overdue, the changes are reflected instantly, saving you time and manual effort.
c. Reconciliation Made Easy
Adfin’s integration with Xero simplifies payment reconciliation by matching payments received through the platform with the corresponding invoices in Xero. This eliminates discrepancies and ensures your books are always balanced.
d. Enhanced Financial Visibility
By connecting Adfin to Xero, you gain a unified view of your invoicing, payments, and cash flow. Easily monitor invoice statuses, payment histories, and outstanding balances across both systems.