This feature saves you time on manual tasks and helps you reconcile your accounts faster.
TRIVER automatically sets up a virtual bank account in Xero to represent your TRIVER facility (if you don't have one setup already). Whenever you advance an invoice, the principal and fees appear in this virtual account, and we create automatic transfers between your TRIVER account and your actual bank account. We follow Xero’s best-practice guidelines to make the process seamless.
Illustration showing invoice advance transaction and fees updated in Xero
Virtual Bank account setup
- When you connect Xero, we set up a ‘TRIVER’ virtual bank account in your Xero dashboard, if you don't have one already setup
- This account tracks all transactions related to your advances, including principal and fees.
Automated transfers
- Each time you receive funds from TRIVER, we’ll log a transfer between your virtual TRIVER account and your real bank account.
- When you repay, that transfer is also recorded automatically to keep everything balanced.
Mark invoices as paid in Xero
- You continue to mark your invoices as paid and reconcile them in Xero exactly as you always have.
- We don’t modify your invoices or remove them from your Xero account—so you can still send payment reminders and manage your normal workflow.
Why we leave invoices alone
- Although TRIVER technically purchases the invoice from you when you request an advance, we keep the invoice intact in Xero.
- This ensures you retain full visibility and control, making it easier to handle customer reminders, track who has paid, and reconcile.
Fewer manual updates
- By automatically recording and balancing transactions, TRIVER frees you from having to do any extra data entry.
- If you ever need to tweak or disable automated ledger updates, visit your Connection details page in TRIVER and adjust the settings.
Note: We only record transactions for newly advanced invoices from when you connect your Xero account onward, so it won’t affect any of your existing financed invoices or their repayments.