Welcome to this guide on Invoice Discounting, a powerful feature of Empress designed to streamline your business financial management.
Introduction
The Invoice Discounting feature in Empress allows your business to secure short-term loans based on the value of your outstanding client invoices. This way, you can immediately free up cash tied up in unpaid invoices, increasing your working capital and improving your cash flow.
Primary Functions and Benefits
With the Invoice Discounting feature, you can:
- View all your outstanding invoices eligible for discounting
- Edit the details of each invoice
- Sort your invoices by various parameters, such as date, amount, and client
- Track the status of your discounted invoices and associated short-term loans
This feature enables you to manage your cash flow effectively, making it easier to plan and execute business operations.
How to Use the Invoice Discounting Feature
Here’s how you can use the Invoice Discounting feature:
- Log into your Empress account.
- Navigate to the left-hand menu and click on Finance, then select Invoice Discounting.
- Here, you’ll see a list of your outstanding invoices. To view more details about a particular invoice, click on its corresponding row.
To edit an invoice:
- Click on the invoice you want to edit.
- Click on the Edit button at the top right corner of the invoice.
- After making the required changes, click on the Save button.
To sort your invoices:
- Click on the column header of the parameter you want to sort by.
- The invoices will be sorted in ascending order based on that parameter. Click again to sort in descending order.
To track discounted invoices:
- Click on the Track button at the top right corner.
- Here, you’ll see the status of all your discounted invoices and short-term loans.
User Roles and Permissions
The Invoice Discounting feature is accessible to all users with the role of System Manager. These users can view, create, edit, delete, and manage invoices and associated short-term loans.
Conclusion
The Invoice Discounting feature in Empress is a powerful tool that can greatly enhance your business’s financial management capabilities. By using this feature, you can streamline your invoice management, improve your cash flow, and make more informed financial decisions.
For more assistance or information, please refer to our non-technical resources or contact our support team. We’re always here to help you make the most out of Empress.