; ;

Seller FAQs

Sellers must pay their low $9.99 Annual Account Provisioning Fee before they can begin issuing invoices to their customers. If your customer(s) are not making their payments from the Invoice Stream platform, transaction fees apply ($0.55 per invoice) and you will need to purchase an invoice package as well before proceeding.

The Annual Account Provisioning Fee brings the following Seller benefits: 1) eliminates bill print function & costs 2) eliminates postage 3) facilitates collaboration with Buyer on the right payment term for both parties to optimize working capital 4) informs buyer on your desired payment method 5) shares your important company information changes such as address, contact, name, TIN, etc. instantly & electronically 6) provides invoice tracking & visibility – know when invoices have been approved for payment and 7) reduces worries of payment timeliness and cold collection calls since the platform delivers invoice status transparency.

All payments to Invoice Stream must be made online. We utilize Stripe as our integrated payment gateway platform. Stripe is PCI Compliant. PCI Compliance is the Payment Card Industry Data Security Standard (PCI DSS), which is a set of security standards designed to ensure that ALL companies that accept, process, store or transmit credit card information maintain a secure environment. Therefore, your payment information is extremely secure. At present, we are only taking credit card payments, but down the road we plan on accepting bank transfers, digital currencies, and other new FinTech payment methods.

After receiving an email for a relationship request to join the network from your customer, sign-up and logon. Upon logon, several set-up steps are needed and will show up in the “Alerts” box on your dashboard. Required set-up steps include: 1) accept relationship 2) upload a W-9 3) upload your company logo (needed for invoices) 3) set-up any products or services you will sell and 4) set-up any tax types and rates you will need to collect. Payment of the Annual Account Provisioning Fee and completion of the set-up steps are needed before commencement of invoicing.

Invoices can be submitted one of two ways; either enter your invoice through Invoice Stream’s quick-entry method (preferred) or drop a PDF invoice onto the platform. The quick entry method is preferred as it is on-time so upon submission it instantly gets routed for approval and will get posted quicker. Invoices dropped onto the platform as PDF submissions require Invoice Stream resources to process via a double blind key-entry and 3rd party arbitration process so it can take up to 24-48 hours to send out for approval.

Timesheet or Invoice transactions in Invoice Stream can be used for services rendered and will serve as the invoice. The Buyer’s Accounts Payable department can use a Control Number or the Date of Service as the invoice number. Also, Timesheets are also an available transaction to use when recorded hours times a specified rate equals the amount to charge the buyer. Timesheets may be appropriate for contract work and services performed.

Invoice status can be viewed one of two ways; either go to the invoice inbox through the Transaction folder or go to reports and pull “approved invoices” or “invoices pending approval.

Non-payment of an invoice should result in a follow-up directly with the company representative that ordered the goods or services as more than likely they have not approved the invoice.

The Seller will determine items & descriptions of goods & services they sell to their Customers (Buyers). Tax determination will be determined by the Seller at time of item category set-up. If the Buyer disagrees with taxes charged on a presented invoice they can reject the invoice and provide reason for rejection so that the Seller corrects and resubmits. It is up to the Buyer to provide Sales Tax Exemption certification to it’s Vendors (Sellers). Sellers should then be sure they have appropriate item categories set-up that are not taxable where tax should not be charged.

Buyer FAQs

Invoice Stream has been set-up to address many of the Buyer pain points caused by the invoice tail. The platform brings the following Buyer benefits: 1) eliminates paper invoices and delivers digits instead 2) facilitates collaboration with Sellers on the right payment term for both parties to optimize working capital 3) obtain new early payment discounts through term offerings and ability to capture in an electronic environment 4) enables an increase of electronic payment settlement options 5) brings enhanced data integrity of your master data by receiving important Seller information changes such as address, contact, name, TIN, etc. 6) obtains internal invoice approval electronically 7) provides invoice tracking & visibility – know when invoices have been approved for payment and 8) delivers invoices in the form of digits ready for ERP upload or integration and 9) provides a more reliable picture of what needs to be accrued for at month-end which improves financial reporting & forecasting accuracy.

Invoice Stream is a Software as a Service (SaaS) Procure To Pay (PTP) network, hosted in the cloud that facilitates the exchange of electronic data while eliminating cost and increasing collaboration.