Invoice finance agreements will be priced based on your business and requirements, however invoice discounting and invoice factoring have different fee structures.
Invoice discounting is structured like a loan, with interest payable plus an administration fee.‘Admin’ > ‘Tide Accounting’ > ‘Settings’ > ‘Invite your accountant'.
Invoice factoring charges are known as a ‘factor rate’, which is based on level of risk, volume of invoices, and the time credit is extended for, amongst other factors.‘Accountant’ as the designated role type, and ‘Invite’.
We’ll email your accountant the invitation, and will ask them to complete our onboarding checks.
With access, your accountant can:
View your balances and perform bookkeeping
Add a category and VAT to your transactions
View and download your accounting reports
View your Self Assessment (if you’re a sole trader)
View and generate VAT reports, if you are VAT-registered
Important: Before you share access with the respective accountant, you must carefully review what rights you will be granting them. The accountant's actions will be binding to your business. Furthermore, your accountant can’t pay your VAT to HMRC, or cancel your accounting subscription.
You can remove an accountant's access at any time.
In the app, go to ‘Profile’ > ‘Profile and Settings’ > ‘Manage Team’ > ‘Team Members’ > select your accountant > ‘Remove Team Member’.
