Invoice-management

What do the status' draft, awaiting payment, and paid mean?

These are the status of the invoice.

‍Draft

These are invoices that have yet to be made factorable and sent to a broker. Typically this is because they don't have all of the required documents, or the documents are being processed to be sent shortly.
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‍Awaiting payment

These are invoices that are unpaid and are awaiting payment from the broker. These may be factorable or not factorable invoices – you can use the filters to filter between the two. On an invoice you can see if it is factorable, how much you've spent of the factorable amount. The factorable amounts on your invoices add up to your Factorable Balance.

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‍Paid

These are invoices that have been paid by the broker. If an invoice has been paid, it also means you've either factored the entire invoice, or received payment if it's not factorable.

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Invoicing

Factoring

How soon will funds be deposited into my account?

You can access funds after you submit your Rate confirmation and Bill of lading are approved based on the broker’s status & eligibility.

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Four hour funding qualifications

Broker is approved for factoring

Documents are submitted before 3pm EST / 12pm PST

You’ve previously worked with this broker on the Outgo platform

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Within 2 business days

Approved brokers you haven’t worked with previously on the Outgo platform or if a rate verification is required.

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If the broker isn’t approved or the invoice isn’t eligible for factoring, funds will be deposited in your Checking account when the invoice is paid by the broker.

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