This guide provides information about the Kassavirta Plus service, its implementation, and its operating principles.
Kassavirta Plus is a turnkey solution that includes invoice financing, credit insurance, payment monitoring, and collection. The service is provided by Visma Amili and Noja Rahoitus.
With invoice financing, you can access your accounts receivable before the due date. Noja Rahoitus finances an agreed portion of the invoice immediately upon creation and transfers the funds to the company. Sales invoices serve as collateral, so separate real collateral is not needed. The financing covers Euro-denominated invoices for both business and consumer customers.
Automated receivables management includes payment monitoring of accounts receivable, automatic sending of payment reminders and demands, and collection if necessary.
CONTENT
- Implementation
- Operating principles
- Considerations for handling invoices sent to Kassavirta Plus
- Bypass payments
- Credit losses
- Handling currency invoices
- Handling interest invoices
- Payment plan on invoice
- Bookkeeping accounts and voucher type
- Service removal
- FAQ
Implementation
The Kassavirta Plus service is available for all Netvisor service packages. Using the service requires that at least the bookkeeping and sales sections of Netvisor services are enabled, and the implementation can be started by a user with one of the following access rights:
- User administrator (KH)
- Accounting office administrator (TPK)
- Company administrator
- Company user profile
- All rights profile
The signing of service contracts must be done by a person with the company's signing authority.
Factoring services and OP Invoice Loan cannot be used simultaneously with the Kassavirta Plus service, so they must be closed before opening the service. If the company uses the Amili Collection service or Intrum Oy's reminder and collection service, these can remain unchanged so that the company's old invoices can still be sent to these services.
If invoices are imported from the interface, using the service requires that invoices are imported in "Unsent" status and sent from Netvisor.
The Kassavirta Plus service is activated through the Netvisor Store:
- Click the “Start implementation” button in the Store
- During the service implementation, it is explained what information is transferred in the service. At this stage, you must also approve the transfer of the company's invoice and bookkeeping materials to Noja Rahoitus and select the bank account to be used in the service
- Proceed to Noja Rahoitus implementation by clicking the “Send and continue to authentication” button
- The applicant's information appears precompleted, check that the information is correct
- Calculate the financing cost
- Complete the information of the person with the company's signing authority
- Fill in your company's information
- Confirm the correctness of the precompleted information and correct if necessary
- Next, you will be transferred to the Visma Sign service to sign the service contracts. If you do not have the company's signing authority, an invitation to sign the service contracts will be sent to the person with signing authority via email
Netvisor charges a fee for the material sent to the Kassavirta Plus service according to the e-invoice sending transaction price. More information in our price list. The service does not have a fixed annual fee, but Amili may charge its own transaction fees. For costs related to Amili, please contact Amili.
Operating principles
After implementing the service, a service-specific reference number is generated for the sales invoice, and the invoice reference number cannot be edited. Additionally, a transfer clause is created for customer payments on invoices, and a Visma Amili client fund account is created in Netvisor during service activation. The payee on invoices is Visma Amili Oy.
After service activation, Visma Amili handles payment monitoring of accounts receivable, and payment reminders, notices, and collection letters cannot be sent to customers from Netvisor itself.
When the Kassavirta Plus service is in use by your company, you can add the service widget to the homepage widgets. The widget is found under the “Financial management” heading with the name “Noja sales invoice financing.” The widget shows the granted credit and the credit in use. From the widget, you can access OmaNoja, where you can easily make a request to change the financing rate and raise financing from the receivable limit with a few clicks. Sales receivables processed through the Kassavirta Plus service act as collateral, and the customer decides how much and when to use the financing.
All invoices processed through the Kassavirta Plus service are insured with credit insurance. This means that if the customer does not pay the invoice even after automated receivables management actions (payment notice, demand, and collection actions), you can recover 90% of the invoice's total amount through credit insurance. Kassavirta Plus does not take a stance on granting credit insurance and thus the compensation decision, as the compensation decision is made by the insurance company granting the insurance.
Considerations for handling invoices sent to Kassavirta Plus
Once an invoice is sent to the Kassavirta Plus service, it is not possible to edit or delete related payments in Netvisor. This practice ensures the consistency of invoice payments both in Netvisor and Amili. Changes to payments in Netvisor do not automatically transfer information to Amili, which could cause discrepancies in invoice data.
If you notice that an incorrect payment has been recorded for an invoice sent to the Kassavirta Plus service in Netvisor, we recommend contacting Amili's customer service directly to resolve the situation. An incorrect payment can be corrected in Netvisor by recording a negative payment.
Bypass payments
If a customer pays the invoice directly to the company's account with the correct reference number and the payment is automatically recorded on the invoice, or the payment is manually recorded on the invoice, information about the bypass payment is automatically sent to the Kassavirta Plus service. The bypass payment is recorded as a credit adjustment, meaning the credit is then reduced from other invoice payments/credit.
Credit losses
Information about credit loss handling in Netvisor does not transfer to Amili, so if this is used, you must first contact Amili (https://amili.fi/yhteystiedot-ja-asiakaspalvelu)
Handling currency invoices
The Kassavirta Plus service cannot receive currency invoices, and the sending will result in an error.
Handling interest invoices
Information about a separate interest invoice made in Netvisor does not transfer to Amili, so Amili calculates interest according to the original invoice. A separate interest invoice should not be made from an invoice sent to the Kassavirta Plus service in Netvisor.
Payment plan on invoice
Only Amili can create payment plans for invoices in the Kassavirta Plus service. In these cases, the debtor should contact Amili's customer service https://amili.fi/yhteystiedot-ja-asiakaspalvelu
Bookkeeping accounts and voucher type
The following accounts are used in the bookkeeping of Kassavirta Plus service transactions:
Existing default chart of accounts:
3000 Sales
1701 Accounts receivable
1910 Bank account
9690 Other financing expenses
New accounts created during service implementation:
2842 Noja Rahoitus
17xx Noja accounts receivable in transit (the next available account in the 1700 series is selected)
If the company previously used OP Invoice Loan, the new accounts created during service implementation are created in the next available account numbers in the 2840 and 1700 series.
The system uses voucher type RA Financing services for financing transaction entries and voucher type MS Sales transaction for payment entries.
In the Kassavirta Plus service, a certain percentage of the company's sales invoices are financed. In bookkeeping, granted credits and the financing expenses charged for them are handled on a daily basis.
When a customer pays an invoice sent to the Kassavirta Plus service, the payment is recorded on the sales invoice in the usual way.
Service removal
The Kassavirta Plus service can be closed through the Netvisor Store. The company's invoices will continue to be transmitted to the Kassavirta Plus service as long as the credit is fully paid. New credit is no longer granted at this point. In the Netvisor Store, the service remains in the “Pending closure” status and will be completely closed when there is no longer any open credit.
FAQ
Q: Where can I see the financing costs before financing or raising the limit?
A: In Noja Rahoitus's OmaNoja service, you can automatically see the cost of financing for each amount raised through the receivable limit.
Q: The price of Kassavirta Plus invoice financing is based on the company's rating. Can the customer see their own rating directly from Netvisor?
A: The company does not see its own rating when implementing Kassavirta Plus, but an indicative financing offer based on the rating.
Q: Does risk-based mean that collateral values are determined based on how predictable the company's future accounts receivable financing eligibility and volume are?
A: The more debtors a company has, the better the situation is for collateral value, and the more likely Kassavirta Plus can meet the customer's financing needs.
Q: Will all invoices have a transfer clause, even if not all invoices are intended to be financed?
A: Yes, they will. When the Kassavirta Plus service is in use, all invoices circulate through the Kassavirta Plus client fund account, so all invoices will have a transfer clause and the Kassavirta Plus account number printed on them.
Q: Can I choose only some sales invoices that I want to finance? Will those invoices that I do not want to finance normally go directly to my own account?
A: The customer can decide which invoices they want to finance, but all invoices circulate through the Kassavirta Plus service client fund account. The ideology of Kassavirta Plus is that all accounts receivable are finally in the same place, which facilitates the accountant's work and enables the customer to maximize the use of accounts receivable through financing and automated receivables management.
Q: Is Kassavirta Plus available without payment monitoring?
The service is not available without payment monitoring.
Keywords Kassavirta Plus, Invoice financing, Payment monitoring, collection, Visma Amili, Noja Rahoitus
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