To view individual segments click on the titles. E.g. to see how to connect your accounts package click Step one - “connect account package to Codat”
- Step one - connect your account package
- Step two - set up clients to fund against
- Step three - add contractor payment file and submit request
Step one - connect account package to Codat
Step two - “Set up clients to fund against”
- Log in and click 'Debtors'
- Select debtor to add information against
- Start adding information to debtor
- Add Registered company name
Tip! add their 8 digit companies house number for perfect matching
- Select company and green tick indicates progress (img seven)
- Input “Required funding amount” (the total invoice amount outstanding with client) and add invoice contact details.
Note: 'Sonovate sets a funding limit' will show a clock icon. This means that Sonovate will assess funding limit requested and approve or decline.
Add contract (pdf file is fine) (img 9) and save.
Step four - “adding contractor payment file and submit request”
- Click dashboard and select “invoices ready for funding’
- Upload candidate payments
Information needed in payment file
- name: candidate bank account name
- recipientEmail: candidate emails (optional)
- paymentReference: your reference purposes (optional)
- receiverType: set this as 'private'
- amountCurrency: GBP, EUR, USD etc (enter in that format)
- Amount: the amount candidate is to be paid
- Currency: GBP, EUR, USD etc (enter in that format)
- targetCurrency: GBP, EUR, USD etc (enter in that format)
- sortCode: candidate bank account sort code
- accountNumber: candidate bank account number
Note: payment file must be saved in CSV format
- Request funding
From here on, Sonovate will check information. As soon as the placement is approved your 'requests' tab will show 'funded' against debtors and payments will be sent on the following timeframes:
- GBP payments received in one working (agency and candidate)\
- Euros two working days
- USD three working days
- Agency makes funding request by 10am thursday
- Sonovate approve by COP Friday
Payments will reach agency and candidates
- UK - Friday
- EUR - Monday
- USD - Wednesday