Procountor Kassaturva

What is Kassaturva?

Kassaturva is an agile service that allows you to finance your receivables of any size. This way, you get the money from your sales invoices immediately into your account for handling purchases, salaries, taxes, and other expenses. With this service, you can choose when and how much financing you use, and the only cost is the commission charged on the financed receivables.

Kassaturva is integrated with Procountor and it helps the handling of sales invoices through the API interface. The service is suitable for financing receivables from corporate customers (business ID) and foreign customers. The service is implemented in collaboration with our partner Alisa pankki Oyj and is available directly from Procountor.

Learn more about the Kassaturva service and order it here (in Finnish).

 

Implementation

1. Make an agreement with Alisa Bank for the use of Kassaturva. Order the service here. Alisa Bank will process the order and you will receive the service agreement for signing. If you have sent all the necessary information to the bank, you will get access to Kassaturva on the same day or within a few days.

2. After making an agreement with Alisa pankki Oyj for Kassaturva, activate the external financing services in Procountor under Management > Company Information > Usage Settings > Is external financing in use?
3. Add the technical user ID for Kassaturva to Procountor according to the instructions from Alisa pankki (instructions in the email sent by Alisa pankki ).
4. Check that the chart of accounts has the necessary accounts for implementing external financing. Contact your accountant if needed. Instructions for the necessary changes in accounting can be found below.
5. After this, confirm to Alisa pankki via email that the changes have been made. After confirmation, we will automatically fill in the Kassaturva financing agreement details in Procountor under Management > Company Information > Financing Agreements.
6. From now on, you can finance your receivables with Kassaturva. Read more about using external financing here.

 

Changes to be made in accounting

1. During implementation, ensure that the chart of accounts includes the accounts 1718 Receivables, financing, 2842 Short-term debt, and 9640 Financing costs (otherwise the functions performed through the API will not work).
2. Create a new default posting rule for the bank statement. The default posting rule can possibly be made, for example, based on the name Alisa Bank Oyj, if the receivables financed by Kassaturva always appear on the bank statement in this way. More information on creating default postings can be found here. The default account would be the aforementioned 2842.
3. For customers whose invoices are selected for financing, a new default account 1718 Receivables, financing must be defined. This way, the posting of financed invoices will be automated in the future.
   1. Financed customers can be retrieved in bulk from the Business Partner Report by selecting the account number and Kassaturva’s financing account number as the search criteria. The account number can be checked from the Financing Agreements view.

 

Using the financing agreement on invoices

In a situation where all invoices from a certain supplier are financed, the agreement can be added as a default behind the customer in the program under Registers > Customer Register > Select Customer > Financing Agreement. After this, the Kassaturva financing agreement will be automatically selected for all new invoices of the customer.

• You can also add agreements in bulk to multiple customers under Registers > Customer Register > Edit Multiple > Retrieve Business Partners and select the ones to be edited > Edit Business Partners > Financing Agreement.
• We recommend informing the accountant of the customers whose invoices are financed with Kassaturva. This way, the accountant can respond to the default posting changes of the receivables.

The invoice is sent to the customer in the usual way from Procountor after pressing the Send button.

Read more about using the financing agreement here.

 

Special notes regarding Kassaturva financing agreements

• The Kassaturva financing agreement can also be used on consumer customer invoices. This feature is not activated automatically for consumer customer invoices but must be agreed upon separately with Alisa pankki.
• If an invoice is copied from an old invoice, it is particularly important that the financing agreement is added to the customer register before copying. During copying, select Original in the Business Partner field, retrieve the information from the register so that the changed register information is transferred to the new invoice.
• Financing agreements can also be used only on certain invoices. We recommend that financing agreements be used consistently on all invoices of a certain customer so that the receiving system of the customer keeps up with the account number of the payable invoice.

 

Sending financing data to Alisa pankki

Information about the invoice to be financed is sent to Alisa pankki when the invoice is in Sent status. After this, the invoice can no longer be returned to In Progress status and it has been sent to both the customer and Alisa pankki for financing. The financing data is sent using the API interface and the sending happens automatically after pressing the Send button.

 

Financing and marking the invoice as paid

The invoice is financed according to the agreement made with Alisa pankki . The first remittance of the receivable appears on the bank statement at the earliest the next day. When the customer pays the invoice in full, the sales invoice is automatically marked as Paid Elsewhere. Alisa pankki charges financing costs in connection with the remitted receivables according to the financing agreement. During the final remittance, an automatic memo is created, which records the financing costs in the accounting. This memo shows which invoice(s) the financing concerns.

• If you have multiple invoices to be financed, the invoices are remitted to the bank statement as a single transaction using the standard message (Kassaturva).

 

Accounting notes for marking the invoice as paid

The sales invoice is recorded as follows:

• 1718 Receivables, financing / 3000 Sales

Payments received on the bank statement are posted as follows:

• 1910 Bank Account / 2842 Short-term debt

Financing costs are automatically recorded monthly with a memo coming through the API:

• 9640 Financing costs / 2842 Short-term debt

During the final payment, when the customer pays the invoice, Alisa pankki remits the remaining receivables on the bank statement and provides the final financing costs (if any) with a memo to Procountor.

• 2842 Short-term debt / 1718 Receivables, financing
• 1910 Bank Account / 2842 Short-term debt

After this, the accounting and ledger match.

 

Handling credit invoices

Credit invoices are created in the usual way and information about financed invoices is not separately provided to Alisa pankki . Alisa pankki retrieves credit invoices automatically from Procountor through the API interface.