Setup and Use for Avionté SmartFund™: Powered by Kanmon

This article guides users on setting up Avionté SmartFund within AviontéBOLD. It covers the initial integration setup, from enabling the integration in the Avionté Marketplace and Back Office to sending invoices for funding.

For more information about creating an invoice and posting a billing batch, please see the following articles:

• AR Create New Invoice
• Billing Process Overview
  
  

Key Takeaways

Avionté SmartFund, powered by Kanmon, is a fully integrated lending solution designed to give staffing agencies complete control over their financing needs. Unlike traditional lenders, Avionté SmartFund offers complete flexibility, allowing you to choose the specific invoices you want to finance—and the amount—unlocking cash flow only when necessary. Whether managing clients with extended payment terms or scaling to meet larger opportunities, SmartFund keeps your business moving forward with confidence and ease.

Key Benefits:

• Embedded directly into the Avionté back-office system for seamless, hassle-free operation.
• Gain full control over your working capital by choosing which invoices to fund and how much.
• Customize financing by setting your preferred repayment terms through Kanmon's platform.
• Plan with confidence with real-time visibility into funded invoices and repayment schedules.
  
  

Avionté SmartFund provides a loan ahead of time based on invoice amounts to customers, greatly simplifying overhead and due diligence compared to traditional op-ex financing solutions.

Eligibility Requirements:

• Available to:
  • Classic-only environments
  • BOLD with Classic integrated clients
  • BOLD with Back Office invoices
  • Back Office only customers that are hosted (not self-hosted)
    
    
• Not available to:
  • Bold Front Office only clients (who don't use Avionté software for Payroll and Billing)
  • Canadian clients
  • Businesses operating for less than 1 year

Credit Determination:

• Credit limit is determined through a soft credit pull on the business owner
• This process does not affect the owner's credit score

Pricing Structure:

• No fees to have the SmartFund feature activated
• Fees apply only when the line of credit is used

CHAPTERS:

• Application Process
• Business and User Sync
• SmartFund Invoice Funding in BO
• Funding Manually Created Invoice
• Funding a Billing Batch after it is Posted
• Selecting Invoices to send to SmartFund
• Handling Invoice Corrections
• Launching SmartFund from BO
• Making a Payment
• Invoice Status

 

Application Process

Users who have access to our back-office platform can easily apply for Avionté SmartFund by clicking on the 'Invite to SmartFund' button in the AviontéBold Marketplace.

Search for 'SmartFund' tile in the search bar. On the tile, click on the 'Details' button.

It should open up a modal that gives you a brief overview of the integration.

Once you read about the feature, you can apply, or invite the owner to apply, by clicking the 'Invite to SmartFund' button.

A confirmation pop up should appear after you submit a name and email address.

You can also invite more than one user to apply by clicking the 'Send Another Invite' button and providing the same information as above. When you are done, click on Dismiss.

Note: You must be a marketplace admin to use this feature.

Alternatively, you can also follow the same process from Avionté Back Office.

If you're a super user, on your Start page you'll see an 'Invite to SmartFund' button. Clicking it will open a form where you can enter the owner's name and email address. You can also click the '?' icon to visit the Avionté SmartFund webpage and learn more about the integration. If needed, you can use the invite button to send invitations to multiple owners.

Once you provide the required information, you can click submit. 

Once you submit, the individual at the email address provided will receive a message with a link to Apply. Note: To apply, you'll need to be the Business Owner or the one responsible for making funding decisions for your agency.

When clicking on the Apply link in the email message, you'll be redirected to the Avionté SmartFund webpage where you can learn more about SmartFund and get the answers you need.

After you complete your application process, you'll be notified by Kanmon once your business is approved.

Business and User Sync

Business Sync

Once approved, you'll need to sync Business and Users in both systems. To do this:

Navigate to Admin Tools > System > SmartFund

Under the 'Business' tab, click on 'Add New.' Kanmon will provide you with a Business ID via Zendesk. Copy and paste the business ID under the 'SmartFund Business ID Lookup' field and click on 'Lookup'.

The system will fetch the business details from Kanmon and populate the information as shown below. Verify that the details are correct, then click 'OK' on the pop up and 'Save' to confirm.

Once you click Save, the Platform Business ID will auto populate. Click on the 'Sync Platform Business ID' button.

This step is important to keep both systems in sync at all times and to ensure the invoices are sent and processed for the right business.

Once the IDs are synced, click the 'Active' checkbox and then save the information.

You can also find the steps to sync your business if you hover over the '?' icon next to the 'Add New' button.

Once you have synced the Business, click on the Business Supplier tab. Here you will be mapping the Kanmon Business with the corresponding Avionté Supplier. 

Note: The Business is created in Kanmon per FEIN. If your agency has multiple FEINs, then you will need to create multiple businesses in Kanmon during the initial Application process.

Under the Business Supplier tab, click on the 'Business' dropdown and map it to the correct Avionté Supplier by choosing the values available in the dropdown. Click on 'Active' and then 'Save'

Note: You will be able to map multiple suppliers to one Business if all of these suppliers use the same FEIN.

If you choose a supplier that has a different FEIN and try to save, you will see an error message that lets you know that the FEINs don't match. You'll not be able to save the changes if there is an active error.

User Sync

Once the Business is mapped, move to the 'Business User' tab.

You'll be provided with a User ID by Kanmon via Zendesk. Copy and paste the User ID under the 'SmartFund User ID Lookup' field and click on 'Lookup'

The system will fetch User details from Kanmon and populate the information as shown above. Verify that the information looks good and then click 'OK' on the pop up.

Once you click OK, the SmartFund User ID will auto populate and sync automatically with the Kanmon User ID.

Again, once the IDs are synced, click the 'Active' checkbox and then save the information.

If a user is not active, they will not be able to use the SmartFund options in Back Office.

SmartFund Invoice Funding in BO

Once you have synced the Business and User, you'll be able to locate the SmartFund button.

Navigate to the Invoice tab from the left-hand side menu. You should see a SmartFund button on the top right corner next to Actions.

Once you click the SmartFund button, a new form opens up as shown below. From here, you're able to look up eligible invoices based on Customer Name, Customer ID, Invoice Number, or Billing Batch ID. 

The 'Show Eligible Invoices Only' check box allows you to look up the invoices by their eligibility to get funded. You can also choose the Supplier from the dropdown that you have set up in the above steps. 

Once you've completed a search, here’s what the SmartFund form looks like when there are multiple invoices. Please note that only eligible invoices can be funded. Below are the scenarios that make an invoice ineligible:

• Invoice is due within the next 7 days
• Invoice is fully paid (Balance Amount = 0)
• Invoice has already been sent and is awaiting funding

Funding Manually Created Invoice

You can also create an invoice manually by choosing the AR > Action > Create New Invoice option as shown below:

 

Once you have created the invoice, you will see a confirmation pop up with the Invoice number.

Upon clicking 'OK' you will now see another pop up that allows you to fund the newly created invoice if it is eligible for funding.

You can choose to click 'Yes' or 'No' on this confirmation pop up. 

Note: Even if you click 'No', you will still have an option to fund the invoice later by navigating to the SmartFund form on Invoice screen.

Funding a Billing Batch after it's Posted

To fund a billing batch after it's posted, first create a new billing batch or select an existing one

and then post it by clicking the Post option. 

A confirmation pop up will appear.

 

After clicking 'OK', you'll see another pop up that allows you to fund the posted billing batch if it's eligible for funding.

You can choose to click 'Yes' or 'No' on this confirmation pop up. 

Note: Even if you click 'No', you will still have an option to fund the invoice later by navigating to the SmartFund form on Invoice screen.

Selecting Invoices to send to SmartFund

You will be able to navigate to the Avionté SmartFund form by:

• Creating a new invoice manually and clicking 'Yes' when prompted if you want to fund
• Posting a billing batch manually and clicking 'Yes' when prompted if you want to fund
• Navigating to 'Invoice' screen and clicking on the 'SmartFund' button

Once you're on the SmartFund screen, you can search for and select the invoices you want funding for. Once you have made the selection, click on the 'Send Invoice(s) to SmartFund' button.

The SmartFund session will be launched within the form on the right-hand side of the screen.

You can review the invoice details, and the total will prepopulate with the full invoice amount. If needed, you can adjust it before clicking the 'Submit Details' button.

 

Once you have submitted the details, you'll need to select a payment plan and view other details on the SmartFund session. To do this, first click 'Submit Details'.

You'll then be able to review all the details. If everything is correct, you can click on the 'Confirm' button. If there's an error, you also have the option to edit any details before submitting.

Once you submit, you will see a confirmation message.

Handling Invoice Corrections

Note: When using Avionté SmartFund, if an invoice is corrected in the Avionté Back Office after already being sent to SmartFund, and payment has been disbursed, the correction will not sync back to SmartFund. As a result, the staffing company is still responsible for the original invoice amount when the payment is due.

Example:

1. Initial Invoice Submission:

   • A staffing company creates an invoice in Avionte BO for $10,000.
   • The invoice is sent for funding.
   • SmartFund disburses $10,000 to the staffing company.

2. Invoice Correction:

   • The staffing company realizes there was an error in the invoice and corrects it in Avionte BO to $9,000.
   • The correction does not sync back to SmartFund.

3. Payment Due:

   • When the payment is due, the staffing company still owes the original amount of $10,000, not the corrected amount of $9,000.

You will also see a warning message in the Back Office if you're attempting to correct an invoice that has already been sent to SmartFund, as well as a notification if a previously corrected invoice is selected for funding with SmartFund.

 

 

Launching SmartFund from Back Office

You can also view a summary of your financing status by clicking on the 'Launch SmartFund' button.

Note: You do not have to select any invoices if you are launching the session.

You can click on the 'Menu' button to review all the different options you have within your SmartFund session.

Menu > Agreements view

Menu > Invoice History view

Menu > All Loans view

Menu > Pay Now view

Making a Payment

If you choose to make a payment, navigate to Menu > Pay Now and click on 'Pay Now' button.

You may choose to see your payment plan details before making the payment

Confirm Invoice details and click on the 'Confirm and Pay Now' button

Invoice Status

You can view the invoice status directly on your 'SmartFund' form in the Back Office under the 'Status' column. These statuses are automatically updated whenever there is a change in Kanmon.

The date these updates occur is displayed in the 'Status Date' column.