Creditor Watch
Before doing business with a new customer, Creditor Watch can check their credit report to help you determine their credit limit, maximum invoice amount, and whether you require payment upfront from them in order to minimize your risk and ensure you’ll be paid.
Customers can be added to your watch list using their ABN. Creditor Watch will start to monitor the financial health and report any changes that might effect their credit rating, such as late payments to other suppliers or going into administration. You will receive a real-time alert via email when these changes occur.
Credit rating changes can occur to any business, any time, so monitoring customers that you regularly invoice will allow you to update your payment terms for any particular customer as their risk level changes.
CreditorWatch Monitoring
To get started, go to the settings tab and enter your Creditor Watch credentials in the “Monitor API Connection Info” section. Click “Check Connectivity” to ensure you are connected. You should see the “Connected” tick like below. You can now click “Save” to save your settings.
The Monitor tab
Here you can then Add (or remove) customers to your watchlist.
Click “Display” to display tracked Peach customers that are on your watchlist.
Creditor Watch Collections
Go to the Settings tab and click on the question mark button next to the API Key box. This will give you some guidance and simple links on where to get the required settings to fill in.
- API Key – Follow the link on the popup screen to generate and copy your API Key
- AccountEmail – This should be the same email address you use to log into your CreditorWatch Collect portal.
- AccountID – Can be found in the URL at the top of the CreditorWatch Collect portal page once you are logged in. See the popup screen for an example. Substitute 15637 with your account id.
Save settings when done.
In the Collect Tab, choose a Start and End date. Then click “Display”. Account invoices (whether paid or not) will appear. If any unpaid invoices do not have a “Payment Date”, you will be warned of this and prompted before uploading. It is a good idea to ensure that these dates are set and accurate. Depending on your CreditorWatch settings, posting an overdue invoice may trigger emails or debt collection action once its posted. The Pay Date on new invoices can be automatically populated by entering a value in the Customer Control > Days field. Eg: a value of 30 will provide a pay date of 30 days from the end of the month the invoice is generated in, you also have the option of 30D for 30 days from date of invoice. There are a few ways to populate the Days field: Manually, Bulk Change, XLS import — please advise if you need some assistance.
When you are ready, click “Upload” to post these invoices to Creditor Watch.
From this point on, there is no need to choose a “From Date”, it will keep track of the last time you uploaded for you.
New invoices, and invoices that have been paid or modified since last upload will be posted to Creditor Watch.
