Accountants Reward Programme
What is it?
The Accountants Reward Programme is for you (accountants) to refer business to Satago and earn rewards along the way.
Not only can you offer your clients Satago as a value-add service providing insight to their financing opportunities, debtor book risks, and offer a collection service, but you can also earn income directly from us. We have a reward scale whereby the more business you refer to us the more rewards you receive.
The Reward Scale
Satago rewards you from invoices we finance with your clients. We also reward with occasional incentives to further your interests.
The table below summarises the increasing level of rewards as you provide more business to us:
There are 2 criteria for qualifying each level:
Active Clients – The number of clients signed up with Satago. For Satago Connect, the client needs to have a connected accounting system. For Satago Direct, the client needs to have accepted their funding proposal.
Financing Clients – The number of clients that have ever received invoice finance.
* Please note, the number of active clients may also reduce if they cancel their accounts. Therefore, the rewards scale is progressive, whereby once you move up a level, you won’t move down, even if your clients decide to close their account or stop financing.
How is Commission Calculated?
Commission is calculated on the daily fees your clients pay and you will earn a percentage of the fee income we receive.
For example, if your client raises a £20,000 invoice with its customer on a 45-day term and is financed with Satago (assuming 85% of the invoice is financed) then your client receives £17,000.
For each day the invoice is outstanding, the daily fee is £10 and so over the duration of the invoice the total fee to your client is £450. If your reward level is Bronze, then your commission rate is 20.00%, and therefore you will receive £90.
Why not use our interactive Invoice Finance Calculator to see the cost for your clients’ invoices to work out the commission you can receive? Click here.
Explanation of the Accountant’s Dashboard
There are two main sections to the Accountant’s Dashboard
The Referrals page are where you add and review your clients.
The Rewards screen shows your reward level and commission progress as you successfully refer clients to Satago.
All accountants start at the Bronze level, with an invoice finance commission rate of 20%.
To qualify for the next levels, the table in the middle of the page describes the criteria to qualify.
Your Commissions are calculated on repayment of your clients’ invoices and will appear only once their customers pay us. You commission is then calculated and paid to your bank account at each month end.
How do I get set up?
The following steps need to be made to get you and your clients set up:
1. Get in contact with us by calling 020 8050 3015 and we will invite you to the programme and create your account (or enable your existing account) and give you some useful tips on how to get started.
2. You need to create your password and login to the account as per the invitation email you will receive from Satago.
3. Set up your clients. You can do this by either connecting your accounting software (Satago Connect) or entering the details of your clients one by one (Satago Direct).
Your clients are created from your customers (Accounts > Customers).
To add your clients, click on the ‘Add Client’ button (screen: Accountants > Referrals).
You can then set up their accounting software, or alternatively allow your client to do so (you will need to navigate back by clicking on the link ‘switch to another organisation’ and selecting your organisation).
Note, when you set up your client’s organisation details on the upcoming pages, ensure the company selected (i.e. Companies House name) is exact to your records.
Once created (and whether you have connected their accounting software or not) you can invite your client to view their account (if you so choose to do so) (screen: Settings > Organisation > Users) and click ‘Invite Users’:
Tips for navigating your account and your clients’ accounts:
When logging on to Satago, you will need to always use the login email address used when your account was first created. You will automatically go to the account you last navigated to prior to finishing your last session. If you switched access to one of your clients’ account in your last session, you will automatically be in their account on your next login.
The way to tell where you are is by the name of the organisation in the top-left of the screen:
Primary organisation – your primary organisation is your accounting company. When you access your clients’ accounts you can navigate to their customers, and invoices etc, and to get back to your organisation, you need to click ‘Open Primary Organisation’:
Switch Organisations – You can also switch organisations, meaning you can access clients you have set up or been given access to. By clicking ‘Switch Organisations’ you can see the list of clients you have set up.
When do you receive commission payments?
Your commission is payable monthly and is calculated on invoices repaid to us across the previous month. We provide you a report at the start of the following month with a list all your client’s repaid invoices and the level of commission earnt.
You, in turn, will need to raise an invoice to us allowing for 30 days for us to make payment to your specified bank account. When you raise your invoices for your commission payment, please raise them to:
FAO: Finance Team
Satago Financial Solutions Limited
4 Bentinck Street
London W1U 2EF
Example of Accountants Rewards Programme Monthly Report:
If you have any questions about the Accountants Reward Programme, please contact our customer support line on 020 8050 3015 or email us at email@example.com.