Using Avionté SmartFund™: Powered by Kanmon

This article guides users on using Avionté SmartFund within AviontéBOLD. It covers the operational workflows for identifying eligible invoices, submitting invoices for funding, managing corrections, and monitoring financing status through the SmartFund interface.

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

• Setup for Avionté SmartFund™: Powered by Kanmon
• AR Create New Invoice
• Billing Process Overview
  
  

Key Takeaways

CHAPTERS:

• 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

 

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.