While we hope to support your business, Marmalade is not the right solution for everyone so before you begin, please check that you meet these criteria.
- You use Xero, Quickbooks or MYOB for all invoices and have been doing so for at least 90 days
- When you issue an invoice, it is due and payable, and does not require any further customer approval, e.g. not a progress claim
- You provide payment terms to your customer of up to 60 days
- You mostly invoice Australian businesses, not consumers
- You consistently invoice more than $50,000 per month
- Your customers provide timely remittance advice if they make a bulk invoice payment
- You are able to and prepared to switch to using Marmalade as the exclusive payment method on all your invoices for all customers
Does the way you invoice customers work with Marmalade?
Different businesses use invoicing differently. Marmalade aims to support most invoicing behaviour but is currently unable to support the following:
- Changing payment details on an invoice after it’s been issued
- Changing an amount or the terms of an invoice after it’s been issued
- Splitting an invoice into multiple invoices after it’s been issued
- Invoicing before the goods or services have been delivered (eg. deposits)
If you engage in any of these invoicing behaviours regularly and intend to continue doing so then Marmalade is unfortunately not right for you at this time.
How invoice eligibility works
When you issue a new invoice through your accounting platform, Marmalade will immediately assess the invoice and determine whether it’s eligible for Cash-in. This usually happens within a few minutes of the invoice being sent to your customer and the invoice will appear in one of the four tabs on the 'Cash-in' page. If the invoice is eligible for Cash-in you’ll see it in the 'Available' tab, otherwise it will be in either the 'Conditionally Available' or 'Not Available' tabs. For more information on our tabs refer to our Article Here.
Whether or not an invoice is eligible or not will be dependent on your Status and your Customer Ratings. Each of these components has a fee associated with it and if the total fee is less than 5.5% the invoice will appear in the Available or Conditionally Available tabs.
For more information on your Status refer to our Article Here.
For more information on your Customer Rating refer to our Article Here.
Additionally, some events will immediately cause invoices to become ineligible for Cash-in.
The main reasons an invoice become ineligible for Cash-in are:
On Issuance:
- Your account requires additional verification, including AML/KYC
- The invoice was not issued with Marmalade payment details
- The customer has not recently made any invoice payments to you
- The customer is an individual and not a business
After Issuance:
- The invoice has already been paid
- The invoice has already been Cashed-in