We highly recommend integrating your accounting software with MarketFinance. Not only will this speed up how quickly we can review and give you an answer on your application, but it will also make trading your invoices much faster and let us assess when you might need an increased limit.
What are the benefits of integrating my accounting software?
- Faster application review – we won’t need to ask you for individual invoices or lots of financial statements when assessing your application
- Limits reflecting your up-to-date business performance – we can use your latest financial information to give you a limit that suits your needs
- No need to upload your invoices – you’ll be able to quickly select which invoices you’d like to sell when drafting a trade (see screenshot below)
What does MarketFinance use the data in my accounting software for?
We use the data from your accounting software to get an up-to-date view of your company’s financial situation – this includes both statements and the sales ledger.
Which accounting software do you support?
We support businesses that use the following accounting software providers:
Supported versions include: QuickBooks Online, Xero (all), Sage 50 (all), Sage 200 (all), Quickbooks Pro, Pegasus Opera (v2/v3), TASBooks (v1/v2/v3), Microsoft Dynamics Navision (all).
Before I integrate, what specific data does MarketFinance look at?
In order to integrate with your accounts, we use a third party software provider called Validis. By integrating your software, you agree to us sharing your financial information with Validis.
We only access the information that we need in order to make funding decisions. This includes: Accounts, Bank Transactions, Bank Transfers, Contacts, Credit Notes, Invoices, Organisation, Overpayments, Prepayments, Payments, Purchase Orders, Repeating Invoices and Reports.
Please be assured that we don’t have access to your payroll, files or fixed asset information, and we work with your accounting software provider to ensure that your data is protected at all times.
Does the integration work both ways, meaning that MarketFinance will share information with my accounting software?
If you use the Xero accounting platform, MarketFinance may keep your Xero account updated with details of any trades you make on the MarketFinance platform so that you don’t have to manually enter this information. This may include details of any outstanding balances, repayments, interest or other fees.
How often will MarketFinance be able to look at my accounting software data?
This depends on which type of accounting software you have. In the case of:
- Cloud-based (e.g. Xero, QuickBooks Online): The integration you enable with MarketFinance works for 90 days. During this time, we can periodically refresh the accounting software data in your MarketFinance account. This way, the data will be fresh when you log-in and you can sell your invoices quicker. After 90 days, you’ll need to give us access again.
- Desktop-based (e.g. Sage 50): The integration you enable with MarketFinance works for that instance only. If you raise more invoices and want to sell those on our platform, you’ll need to re-integrate your accounting software.
Great, I’m ready to go. How do I get started and integrate my accounting software?
Separately, feel free to get in touch at any time with our team on 020 3131 6226 or via the platform chat tool on the bottom right-hand side.
Additional Legal Information
Please read our Terms & Conditions to learn more about how MarketFinance agrees to use and protect your personal data.
In addition, MarketFinance Invoice may pay a fee to your accounting software provider. By agreeing to integrate your account with the the Xero accounting platform, you acknowledge and consent to MarketFinance paying a fee to Xero.