Invoice Clearing is a financial process that allows you to settle invoices with minimal or no cash payments. Here is a simple example:

Let's say you're expecting payment on a bunch of invoices you sent out, and that they add up to $100,000. Let's also say you have a pile of bills you need to pay that add up to the same amount, $100,000. What you can now do is settle all these invoices by netting them out. As the total amounts are equal, there is no need to dip into your cash reserves.If what you have to pay is more, you just pay the difference.If what you are to receive is more, you will receive the difference.

Here's how it works in practice:

‍Record Keeping: Whenever you send an invoice to another business using your accounting software, the invoice is recorded on the Clearitt platform.
‍Balance Tracking: In this way, the platform keeps track of what you owe and what is owed to you, creating a running balance.
‍Invoice Settlement: Instead of exchanging cash for each invoice, you periodically settle your accounts. As mentioned, if you owe more than what's owed to you, you pay the difference. If the balance is in your favour, you receive the outstanding amount.

For a thorough introduction of how it works, go to https://clearitt.com/how-it-works.

Clearing has been used by banks and large institutions for over 250 years to simplify transactions and reduce the need for cash payments. Now, Clearitt brings this efficient, secure, and cost-efficient process to businesses of all sizes. By joining Clearitt's clearing network, you can streamline your financial operations, save time, reduce costs, and open doors to new cooperative opportunities within the Clearitt network. Say goodbye to the hassle of cash payments and embrace the future of seamless business transactions.

Invoice Clearing offered by Clearitt presents a multitude of benefits for businesses, changing the landscape of B2B finance and empowering businesses to thrive in today's dynamic market.

‍Time Savings
Invoice Clearing streamlines the invoice settlement process, eliminating the need for businesses to engage in the time-consuming task of chasing payments. By automating the clearing and settlement system, Clearitt saves valuable time for businesses, allowing them to focus on building meaningful relationships and driving growth.

‍Cost Savings
Clearitt's transparent fee structure and efficient transaction management contribute to significant cost savings for businesses. By eliminating hefty fees associated with traditional financial solutions such as factoring services and business loans, Clearitt empowers SMEs to achieve remarkable cost reductions and improve their financial health.

‍Freeing Up Working Capital
Delayed payments often hinder a business's ability to invest in its future. With Invoice Clearing, Clearitt breaks the chain of late payments, freeing up working capital and unlocking opportunities for businesses to seize growth initiatives and fortify their financial positions.

‍Unlock the Potential of Invoice Clearing
Invoice Clearing isn't just about streamlining processes; it's about revolutionising B2B finance and empowering businesses to thrive. By embracing Invoice Clearing, businesses can say goodbye to the frustrations of chasing payments, enjoy significant cost savings, and unlock their full financial potential.

Getting started with Clearitt is quick and easy. Our onboarding process is designed to get you up and running with invoice clearing in just a few steps:

1. Sign Up
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Create your Clearitt account by signing up here. You can start right away by connecting your accounting system, which allows Clearitt to automatically import your invoices and identify clearing opportunities with your customers and suppliers.
Prefer not to connect your system? No problem—you can also manually enter invoice data or upload it via CSV. This lets you get started immediately, even if your accounting software isn’t supported yet. You can start right away by connecting your accounting system, which allows Clearitt to automatically import your invoices and identify clearing opportunities with your customers and suppliers.
Prefer not to connect your system? No problem—you can also manually enter invoice data or upload it via CSV. This lets you get started immediately, even if your accounting software isn’t supported yet.

2. Invite Your Business Partners

To start clearing invoices, both you and your counterpart (customer or supplier) need to be on Clearitt. We make it easy by allowing you to invite your contacts directly through the platform. If your accounting system is connected, Clearitt can automatically identify and invite your trading partners on your behalf.
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3. Start Clearing

Once both parties to an invoice are on the platform, you can clear that invoice straight away—no thresholds, no delays. The more of your network that joins, the more invoices you can clear, reducing the need for cash payments and improving cash flow.

Ongoing Benefits

‍Network Effect: As more of your trading partners join, your clearing potential increases—unlocking smoother, faster settlements.
‍Flexible Setup: Whether you connect your accounting system or enter data manually, Clearitt adapts to suit your business.
‍Effortless Collaboration: Our platform makes it easy to manage invoices, track clearing activity, and grow your clearing network.

In summary, becoming a Clearitt user is as simple as signing up, adding invoice data, and inviting your trading partners. No approvals, no friction—just a smarter way to settle B2B invoices.

Secure Technology: Clearitt employs mature, stable and tested technology to safeguard your financial information. Our platform is built with secure components that protect your data from unauthorised access or breaches, and the end-to-end business process has been vetted by security experts.

Privacy: We comply with international and Australian privacy legislation, specifically The Privacy Act 1988 (Privacy Act). We have a declared privacy policy available for perusal on our website. Moreover, your data will be held in a database hosted in Australia and will not be sent overseas.

‍Data Access: Clearitt will not access any of your data held in a third-party cloud-based accounting platform unless you grant us permission to do so. You can revoke this permission at any time, and the protocol implementation by the accounting platforms will ensure that we cannot access your data thereafter.

‍Identity and Data Access Technology: Our software implements the industry-standard Open ID Connect and OAuth2 Identity and Access Management protocols, which also is required by your accounting platform.

Encryption: All data stored and transmitted through Clearitt is encrypted, adding an extra layer of protection. This encryption ensures that your sensitive financial information remains confidential, whether at rest or in transit.

‍Transparency: Our platform provides transparent and detailed records of all your financial activities, giving you full visibility and control over your financial activities.

‍Constant Monitoring: We conduct ongoing security audits to ensure that our processes remain secure, and advisory services to ensure that our software has the latest upgrades and patches.

In summary, Clearitt's commitment to security is unwavering. We employ secure technology, encryption, compliance with privacy legislation and quality standards, informed consent, industry-standard protocols, transparency, and constant monitoring to ensure the utmost security for all your financial activities.

At Clearitt, safeguarding your privacy is paramount. We recognise the importance of protecting your personal information and adhere to strict privacy standards to ensure its confidentiality and integrity.

Our Privacy Policy outlines our commitment to transparency and accountability in handling your data, emphasising our dedication to maintaining your trust and confidence. We believe that respecting your privacy is not only a legal obligation but also a cornerstone of our relationship with you, our valued user.

For detailed information about how we handle your personal information, please refer to our Privacy Policy.

Yes, you can cancel at any time. Clearitt only charges a performance-based fee, so if you stop using our services, you won’t be charged anything.

If you’d like to delete your organisation from the platform, simply go to your Dashboard, click on your Business Profile, and follow the instructions.

We believe in providing full flexibility to our users. If you have any questions or need assistance, our support team is always here to help.

Our live demo lets you explore the Clearitt platform using sample data, so you can see exactly how invoice clearing works—without needing to enter your own information.

You’ll be able to interact with key features, navigate the dashboard, and experience how invoices are cleared between businesses. It’s a hands-on way to understand the value Clearitt offers before connecting your accounting system or uploading your own data.

Whether you're just curious or preparing to onboard, the demo is a great first step to see how Clearitt can improve your cashflow and simplify your payment processes.

Not at this stage. Clearitt is currently only available to businesses operating in Australia and does not support multi-currency or cross-border transactions.

However, Clearitt’s clearing gateway has been designed with future functionality in mind. Multi-currency support is on the roadmap, making the platform well-positioned to eventually serve businesses engaged in international trade.

Looking Ahead: International Expansion
‍Clearitt has plans to expand internationally, and once launched in other markets, the platform’s multi-currency capabilities will be activated to support cross-border clearing. This will provide businesses with a faster, more cost-effective alternative to traditional international payment methods, helping reduce currency conversion fees and delays.

For now, Clearitt remains focused on delivering a seamless clearing experience within Australia—but stay tuned for updates as we move toward global coverage.

At Clearitt, we settle all your scheduled invoices every fortnight via clearing. This applies to invoices where both you and your counterparties are members of the Clearitt network.

What happens to invoices that are due just after a settlement day?
It's possible for an invoice that is due already to take up to two weeks to settle if the due date just after a settlement day. While this might seem inconvenient, it is generally a transitional issue. The timing of both receivables and payables in a fortnightly clearing cycle should in many cases balance out anyway, as both kinds could be due just after a settlement day.

How to manage invoice due dates effectively?
We encourage our users to coordinate with their customers and suppliers to align invoice due dates just before the next settlement date. This synchronisation helps mitigate any temporary disruptions to your cashflow during the transition period.

In short
Transitioning to a fortnightly clearing system moves you away from an older more time-consuming and costly method of managing your cashflow to a simpler, streamlined approach. This change requires some initial adjustments but ultimately leads to a more efficient cashflow management system.

Being a Clearitt user is something to display to your contact network, whether they're your customers or suppliers. Many companies are actively seeking business partners with whom they can engage in invoice clearing, streamlining their payment processes, and optimising their cashflow.

For your convenience, we have crafted a brief paragraph below that you can use to introduce Clearitt to your business network:
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"Dear [Recipient],
We’ve joined Clearitt, a game-changing B2B invoice clearing platform that helps businesses like yours optimise cashflow and unlock growth potential.Instead of relying on slow, costly payment methods, Clearitt enables you to settle invoices with minimal or no cash, freeing up working capital, simplifying reconciliation, and eliminating the need to chase payments or rely on credit.Clearitt transforms how you manage cashflow – and it works best when you’re connected to your business partners. Join us today and experience a smarter, more efficient way to do business."

Of course, feel free to customise the message to suit your tone and audience.

Showcasing Your Use of Clearitt:
Clearitt offers a Marketing Toolbox which you can find in the footer on our website. Here you can access resources to showcase your use of the platform. This includes "Don’t Pay It, Clear It" badges that you can add to your website, invoices, emails, and social media profiles. By prominently displaying this badge, you can signal to your customers and partners that you embrace modern payment solutions and are part of the Clearitt network.

In summary, Invoice Clearing is a powerful tool for boosting sales and gaining a competitive edge in today's marketplace. By providing customers with flexible payment options and streamlining your invoicing process, you can drive growth, improve cash flow, and strengthen relationships with customers.
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You can start clearing your first invoice right away—as long as both you and your counterpart (customer or supplier) are on the Clearitt platform.

As more of your business partners join, you’ll be able to clear a growing number of invoices across your network. To speed things up, Clearitt can invite your customers and suppliers on your behalf—if you choose to connect your accounting system. This is entirely optional and completely in your control.

Clearitt functions like a business network: the more contacts who join, the more powerful and valuable the platform becomes. You can also invite or remind contacts manually at any time from within the platform.

The stronger your network, the smoother and more efficient your clearing experience will be.

Clearitt currently integrates with Xero and MYOB, offering a seamless experience for many small and medium-sized businesses. We’re quickly rolling out support for all major accounting platforms to expand compatibility across the market.

If you’re using an ERP system, Clearitt can also connect via our API, enabling tailored integrations for more complex business environments.

Even if we don’t currently integrate with your accounting system or ERP, you can still use Clearitt by manually entering invoice data—either one by one or by uploading a CSV file with multiple invoices.

While connecting your accounting system is the preferred option—enabling automatic invoice uploads to the Clearitt platform—we’ve made it easy to get started regardless of your current setup.

We believe in providing accessible and cost-effective financial solutions to businesses. Here's a breakdown of our pricing model for Clearitt's Cashflow Monitor and Clearing Services:

‍Performance-Based Fee
Invoice Clearing is available at an exceptionally low performance-based fee of only 0.1% of the amount cleared. The fee is only charged if we actually can help you, so there is no need to subscribe or unsubscribe. The fee is also cleared, so there is no need to pay cash.

‍An Example
Let’s say you have $110,000 in payables and $100,000 in receivables. With Clearitt, you can offset the two and only pay the net difference of $10,000. That means we’ve cleared $100,000 for you—and our fee is just 0.1% of that amount, which comes to only $100.

‍Low & Fair Fee
Our fee of 0.1% is significantly lower and fairer compared to the rates charged by traditional business finance institutions and credit card fees. This fee ensures that our services remain accessible and affordable, facilitating seamless and secure financial transactions for your business. Importantly, we apply the same fee rate to all businesses, regardless of their size. This decision was made deliberately to ensure fairness across the board.

Our pricing model is designed to support businesses of all sizes, allowing you to benefit from the Clearitt network without the burden of hefty upfront costs. It's our commitment to making financial management and clearing services accessible and fair for everyone.

In your Clearitt dashboard, you’ll see two key figures: Current Scheduled Clearing and Current Potential Clearing.

‍Current Scheduled Clearing shows the total value of receivables or payables that have been approved for clearing during the current fortnight. These are the invoices ready to be cleared because both you and your counterpart have approved them.

‍Current Potential Clearing reflects the maximum value you could clear this fortnight—if all invoices between you and your business partners were approved in time. It represents the full clearing opportunity based on invoice data and network connections.

To unlock the full value of your Potential Clearing, it's important to:

1. Connect your accounting platform, so Clearitt can access all your invoices.
2. Ensure your customer and supplier records are accurate, especially ABN and email addresses.
3. Approve your invoices before the fortnightly clearing deadline.

If you haven’t connected your accounting system, we can only calculate potential clearing based on the data you’ve manually entered. Integration is optional, as it helps automate the process and ensures you're seeing your true clearing potential.

If you’ve connected your accounting platform but still don’t see any data on your Clearitt dashboard, there are a few possible reasons:


1. Your accounting system is set to cash basis accounting
Clearitt requires accrual-based accounting in order to function. We need visibility into invoices before they’re paid to facilitate clearing.

Here’s a quick summary of the two methods:
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‍Accrual accounting
Records revenue and expenses when they occur, regardless of when cash changes hands. This allows Clearitt to access accounts receivable and payable.
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‍Cash basis accounting
Records revenue and expenses only when cash is received or paid—meaning invoice data isn’t available until after payment, which prevents clearing.

To learn more: Investopedia article, Short explainer video

‍To use Clearitt effectively, ensure your accounting system is set to accrual basis. If you're unsure how to change this, your accountant or bookkeeper can help.

To use Clearitt effectively, ensure your accounting system is set to accrual basis. If you're unsure how to change this, your accountant or bookkeeper can help

.2. Missing or incomplete contact data
Clearitt relies on accurate contact information to match and display invoice data. If your customer or supplier records are missing ABNs or email addresses, we may not be able to process those invoices. Make sure your records are up to date for best results.

If you've checked both areas and still don’t see data, please reach out to our support team—we’re happy to assist.

The timing of both payables and receivables in a fortnightly clearing schedule balances out the financial implications. This synchrony can help manage the impact on your business's cash flow and financial positioning.

‍Receivables and Payables Balance

Receivables: Payments to you are cleared every two weeks which could potentially delay access to funds. However, the predictability of scheduled deposits eliminates uncertainty and the need to chase payments. This consistency improves cash flow management, allowing you to plan financial activities around these reliable inflow dates. Additionally, having a set payment schedule ensures you can count on these funds for upcoming financial commitments, thus enhancing your resource management and allocation.

‍Payables: You also settle your payables every two weeks. This schedule allows you to retain funds longer, possibly earning interest or avoiding the need to borrow for cash flow purposes. The delay in payment outflows effectively complements the structured inflow of receivables, creating a balanced financial cycle.

By aligning the outflows with the inflows on a consistent bi-weekly basis, your business achieves a more predictable and balanced financial cycle. This helps in smoothing out the cash flow, minimising the periods of cash shortage or excess, and improving overall financial stability.

There’s no minimum number of suppliers or customers required to start clearing on Clearitt.

You can begin clearing invoices as soon as both you and your counterpart (customer or supplier) are on the platform. That means even if just one of your trading partners is already using Clearitt, you can start clearing with them right away.

Of course, the more of your network that joins, the more invoices you’ll be able to clear—unlocking greater cashflow benefits and reducing reliance on traditional payments.

To help speed up the process, Clearitt can automatically invite your contacts when you connect your accounting system, or you can manually send invites through the platform at any time.

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When managing your business finances, the choice between accrual-based accounting and cash-based accounting can significantly influence your operations. For Clearitt users, understanding this distinction is essential, as clearing transactions with Clearitt requires the use of accrual-based accounting. Learn more in our help center