Invoice Module For Cannabis Suppliers

Related Pages: Adding A New Customer | Invoice Module | Invoice Module Pricing | Invoice Delivery & Communication

What Makes Mcardit Invoicing Distinctive?

Mcardit’s Invoicing Module offers:
1. $0 transaction fees for invoices
2. pay per invoice
3. lower the cost of each invoice by purchasing a member’s only package of invoices
4. know exactly how much each invoice costs
5. customer ID verification prevents fraud and underage activity
6. same day ACH debits your customer’s account same day
7. real time balance check option eliminates NSF transactions
8. real time transactional status updates
9. customized email delivery of invoices and transaction receipts on your behalf
10. overnight settlement for qualifying merchants
11. repeat customer one-click Amazon-like payment
12. invoice up to $999,999 for B2B customers
13. 48 hr dispute window limits chargebacks for B2B customers
14. historical transactional reporting and AR aging
15. customer contact database with verification and bank connect status
16. modern API provides third party platform connection
17. one-click refunds with customized email notification to your customers
18. mobile responsive invoicing
19. pay by phone UI for copy and paste SMS text invoicing
20. bank connection and bank verification option

Fraud Prevention

Mcardit verifies each customer. Here’s how…

B2B Transactions
Each business’ identity is verified through an ID and KYB verification process that matches the business to its EIN.

Each invoice includes B2B NACHA compliant transaction authorization with a terms and conditions acceptance and acknowledgement process that makes it virtually impossible for your business customers to dispute.

This significantly reduces friendly fraud, disputes and claims of unauthorized transactions.

B2C Transactions
Each consumer is run through a 900ms Identity Verification and KYC process. This ensures each consumer is who they say they are, a process that makes it virtually impossible for your consumers to claim transactions were unauthorized.

This significantly reduces fraud, disputes and claims of unauthorized transactions.

Adding & Verifying A New Customer

The first step in invoicing a customer is to ADD them as a new customer. Here’s how you do that.

Generating An Invoice

Find the customer in the Customer & Payees module. Click the “Generate Invoice” icon.

click image to enlarge

The Invoice Generation Screen will open

Invoice Sections

There are twelve (12) sections to each invoice.

1. Invoice To

Customer Name. Customer name and company are pulled in from the customer contact edit / view screen.

2. Customer Payment Options

You can offer a partial payment option to your customers by selecting “Partial Pay” or “Both”.

Here’s how your customer takes advantage of this option when enabled on your invoice.

Here’s how a partial payment is reflected in your Invoice Module.

And here’s how a partial payment is reflected on your view of each invoice.

3. Frequency

Select an invoice Frequency. Let’s use MONTHLY for our example

You have the option of establishing a fixed number of payments or an ongoing set of payments without a fixed end date.

This is an example of an ongoing invoice without a fixed number of payments.

This is an example of an invoice with a fixed number of payments.

Here’s how to keep your customer informed as to the status of their recurring payments.

You: Open the recurring invoice and click the SEND RECURRING STATUS button

Your Customer: Receives an email with a link to view their recurring payment status

Recurring Schedule: Every recurring invoice contains a payment schedule and status

Terminating A Recurring Invoice: Here’s how to terminate a recurring invoice.

Viewing And Confirming The Termination Of A Recurring Invoice:
Your invoice module dashboard status shows all CANCELLED invoices. The CANCELLED status is also reflected in the “Recurring Schedule” section located on the bottom of the invoice.

4. Send Date (Invoice Date)

You have the option of generating an invoice and sending it immediately or scheduling it to be sent in the future.

This convenient feature eliminates the need to postpone the creation and sending of an invoice.

If a customer asks you to hold off on an invoice, you don’t need to set yourself a reminder, by scheduling the invoice for a day in the future you can create the invoice today and be confident that it will be delivered on the desired day, whether that future date is days or weeks away.

And, if you need to move the scheduled date back or forwards, simply edit the invoice send date and you’re all set!

Once you’re finished creating or editing the invoice, click the SCHEDULE INVOICE button. Rather than sending the invoice immediately, the invoice is placed in a queue to be sent the day you scheduled it for.

How do you keep track of your scheduled invoices? That’s easy. Your Invoice module dashboard shows the status of each scheduled invoice.

5. Payment Due Date

Simply select a payment due date from the calendar.

Your Invoice module dashboard shows the number of days until each invoice is due.

And the number of days each invoice is past due

6. Invoice Type

There are two types of invoices: 1) a Description Invoice and 2) an Upload Invoice.

7. Description vs Upload Invoices

Description Invoices

Description invoices are designed for products or services you can describe in few words. The amount field is calculation of the number of units x the unit price.

Upload Invoices

Upload invoices allow you to upload a separately created, detailed invoice (most typically a pdf). The uploaded invoice is attached to the Mcardit generated invoice.

Here’s what your customer sees

8. Merchant Invoice # (Optional)

This is an optional field for your Invoice #

9. Customer PO # (Optional)

This is an optional field for your Customer’s Purchase Order (PO) #

10. Mcardit Invoice Tracking #

Mcardit assigns each invoice an internal tracking number

11. Due Days & Number of Payments

Mcardit assigns each invoice an internal tracking number

12. Approval Invoices

Mcardit’s pre-approval process allows you to obtain approval for invoices as a condition of payment. This is an option feature that’s enabled by selecting the “yes” radio button.

After entering the Approval Contact information, you’ll be brought to the invoice EDIT screen. If you uploaded an invoice attachment you’ll be able to view it. Clicking the REQUEST APPROVAL button sends the Approval Contact an email with a link to approve or decline the invoice. Note: Approval is required before you can invoice for payment.

After clicking the REQUEST APPROVAL button you’ll see an approval request confirmation which contains a link to view the approval request.

As soon as you click the REQUEST APPROVAL button, Mcardit emails the Approval Contact an approval request. This is the personalized email they receive from you (delivered by Mcardit).

Clicking the link in the email, brings Approval Contact to this screen. This is your Mcardit generated invoice with the payment button replaced with the option to APPROVE or DECLINE your invoice.

To decline your invoice, the Approval Contact enters a brief, descriptive reason for their decline, followed by clicking the red DECLINE button which triggers the notification.

If your invoice is declined, you’ll see the Approval Status set to DECLINED. Hovering over the information icon reveals the reason for the decline. You’ll see the Invoice Status set to FIX which indicates to you that the invoice needs to be edited to resolve the issue.

Viewing the declined invoice provides the reason for the decline and allows you to edit the invoice to resolve the issue. Once you fix the issue, clicking the REQUEST APPROVAL AGAIN button will resend an approval request email to the approval contact person.

Viewing the declined invoice enables you to view the reason for the decline and to edit the invoice to resolve the issue. Once you fix the issue, click the REQUEST APPROVAL AGAIN button. Mcardit will resend the approval request email (the same email as before) to the approval contact person.

Clicking the link in the email, brings Approval Contact to same invoice approval screen they viewed previously. Again, this is your Mcardit generated invoice with the payment button replaced with the option to APPROVE or DECLINE your invoice.

To APPROVE your invoice, the Approval Contact simply clicks the green APPROVE button which triggers the approval notification.

Once your invoice is APPROVED, you’ll see the Approval Status set to APPROVED. You’ll see the Invoice Status set to SEND which indicates to you that the invoice needs to be viewed and sent for payment. Note: Once your invoice is approved, you cannot delete it and can only edit the invoice date (this provides your customers with the assurance the approval process is intact.)

Now it’s time to SEND the invoice for payment. At this point, the invoice flow is the same as all other invoice types, the difference being that an Approved Invoice cannot be edited (since an authorized person approved it).

How do you keep track of the status of each Approval Invoice?
Filter the invoice module dashboard by Approval Status

How do you keep track of the aging status of each Invoice?
The invoice module dashboard default view shows the number of days until each invoice is due

How do you manage Past Due Invoices?
Filter the invoice module dashboard by PAST DUE Status