Start a conversation

Axle Payments Factoring For Brokers


Axle Payments is the all-in-one financial partner for freight brokers. To begin maximizing your cash flow with the Axle Payments integration available in AscendTMS, the first thing you’ll need to do is get your Axle Payments API Key.


Once you have your API key, navigate to the Settings menu on the lower-left side of AscendTMS. With the Settings area open, choose the "Add or Edit Factoring Settings" link located under the Premium Features and Billing Details category.


Then just click the “Connect To Axle Button” and enter in the API key you have received from Axle Payments.


Now that you’re connected, you can instantly factor your loads from your Accounting Management tool inside of AscendTMS. If you need to learn about how to use Accounting management, click here


Factoring a load with AscendTMS and Axle Payments is simple, fast, and convenient.


Before we start with anything there are some required documents that need to be attached to a load to be able to be sent to Axle Payments!


For our Carrier users, you have to have a signed POD uploaded to the load and labeled as “POD” when processing the document.


Brokers will need that and an uploaded “Carrier Invoice” Attached to the load.


If you have any questions about Document Management with AscendTMS click here to learn how easy it can be


After you have those required documents, select the invoice or invoices that you want to send for factoring.

Then chose an Invoice Date


After you have chosen the invoice date, at the top of your accounting module, click the “factor invoice” button.


A module will appear with all the invoices you have selected and you can choose to send all of these to invoices to Axle payments or select each one here on the right-hand side. There is a key at the bottom of this page to help you indicate whether the invoice has been selected to be sent or not.

Click the “Continue Button”


A summary of the number of invoices will appear and it shows the net income of the invoices that you are sending to be factored in.

Click the “Factor Loads” Button


If this is the first time factoring for this customer or carrier for our broker users you will have to map your debtors and payees.

You Can search for these entities or you can click the “click here to create a new company” button if you get no results


From here just fill out the fields and click the “Submit for approval” Button.

Follow the same steps if you need to map your Payees as well.

*Note - only brokers will have to map payees for Third-Party Carries that have bills received in your accounting management. When recording bills with advances be sure to only record the balanced owed to the carrier after the advance is given.


And just like that, you’ve successfully factored your load to Axle Payments through AscendTMS 


Choose files or drag and drop files
Was this article helpful?
Yes
No
  1. Cameron Parker

  2. Posted
  3. Updated

Comments