Coupa Accelerate helps you to get paid earlier by allowing you to set and update preferred accelerated payment terms (early payment discounts terms) and by applying those terms automatically to all or selected customers across some or all your invoices and/or purchase orders.
You can use this feature successfully only if your customers have it enabled.
You can change a net payment term (for example, Net 60) to a discount payment term (for example, 2%/20 Net 60).
Coupa Accelerate only changes payment terms. It is at your customers' discretion whether to pay the invoice early and take the discount, or to pay the full amount in the net term days.
Coupa Accelerate does not update existing early payment discount terms. It only updates net payment terms to early payment discount terms as you selected. Thus, it does not change a 2%/10 Net 30 term to 1%/10 Net 30. It only changes Net 30 to 1%10 Net 30.
If you always prefer early payment discounts on your Coupa purchase orders and invoices, set your Accelerate preferences to apply to all invoices. If you only prefer early payment discounts on some transactions, set those discounts on the specific orders and invoices.
Setting the Accelerate preferences to apply to all invoices means changing a net payment term on a Coupa transaction (for example, a Net 60 payment term on an order or an invoice) to the discount payment term chosen on the Coupa Accelerate Preferences page (for example, 2%/20 Net 60) for all invoices in Coupa, regardless of whether there is a purchase order or what channel the invoice is submitted through. (Invoices can go to Coupa from the CSP, on paper, in emails to the buying company, and through automated data feeds.) This option ensures that you get faster payment on as many invoices as possible through the CSP, and it is recommended if you want accelerated payments on non-PO invoices.
If you do not choose to set the Accelerate preferences to all invoices, Coupa only applies the discount payment term to an invoice from an order that has an accelerated discount payment term. This option is recommended if you want your accelerated preferences to be applied only to invoices from purchase orders to ensure that the payment terms on your original invoices match the payment terms in Coupa before you create the invoice. If the payment term you selected matches one of the discount terms on your Coupa customer side, that discount is automatically assigned to the transaction, that is, to the Coupa purchase order you receive or the invoice you send through the CSP, Supplier Actionable Notifications (SAN) (creating invoices from PO emails), or other invoicing channels.
View and set payment terms
Click on the Coupa Accelerate Preferences link on the left of the Admin page.
Click on the Edit Preferences button in the top right corner. Fill in the mandatory name and email fields, and select your preferred accelerated payment terms. You can choose from a standardized list of possible discounts for each term length.
For a specific transaction (purchase order or invoice), you can choose to change a net payment term (for example, Net 60) to a discount payment term (for example, 2.5% 10 Net 60) if your customer's configured Payment Terms is enabled for these Coupa-preferred payment terms. You can "accelerate" the order or the invoice.
If your choice matches one of the discount terms on the customer side, that discount is automatically assigned to the transaction.
Select the Apply to ALL invoices checkbox to apply your Coupa Accelerate preference to all invoices, including non-PO backed invoices and invoices sent to your Coupa customer through cXML, EDI, and so on.
Accelerate orders or invoices
Open the order/invoice and click on the Accelerate Payment button next to the Payment Terms field.
In the appearing Accelerate Payments pop-up, select the new payment term and click Update.
The new payment term is applied and your order is accelerated.
Accelerated payment terms automatically apply to invoices created against accelerated orders.
When an accelerated payment term is applied to an order or an invoice, that payment term is available on the order or the invoice and it has the Accelerated flag. You are notified of the action in the message bar and the change is recorded in the History section.
For a specific transaction, if one of the listings in your customer's Payment Terms table matches your selected preferred discount, that invoice or order is automatically marked as "Accelerated". If there is no match, you can see the Accelerate Payment button in the Payment Term field of the invoice. Clicking on it allows your customer to select from their list of authorized payment terms.