Getting Setup

This article takes you through the whole process from connecting your accounts package to Codat & submitting a funding request

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”

The Steps

• Step 1 - connect your account package
• Step 2 - set up clients to fund against
• Step 3 - add contractor payment file and submit request

Step 1 - connect account package to Codat

Step 2 - 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 3 - add 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

• 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

Example

• Agency makes funding request by 10am Thursday
• Sonovate approve by COP Friday

Payments will reach agency and candidates

• UK - Friday
• EUR - Monday
• USD -  Wednesday