How does the fortnightly clearing cycle affect my cash flow?

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.