Quick reference for the terms used across Finqle invoices, statements and knowledge base articles. Shared by clients and debtors.
Billing Request (BR)
A pre-invoice that you submit for Debtor approval. It contains line items (hours, units, expenses). Once approved, Finqle converts it into a final invoice.
Billing Request Approver
A Connect user role that can review and approve or disapprove Billing Requests, without access to projects or contracts.
Cessie
Dutch legal term for the assignment of a receivable. When Finqle pays you via Direct Payment, you legally transfer ownership of the invoice to Finqle. The Transfer Statement (D-series) is the formal proof.
Clawback
Finqle reclaiming part or all of a previously paid-out amount, typically because of a credit note, dispute, or invalid invoice.
Collective invoice
A single invoice that bundles multiple individual invoices for the Debtor's convenience. Individual invoices are still processed and paid out separately.
Connect
Finqle's advanced platform for registered Client users (the Inkoopstroom), with roles, projects, contracts, and merchant onboarding.
Credit limit
The maximum Direct Payment volume Finqle can have outstanding to a Debtor at once (credit_limit). Once outstanding invoices (credit_used) reach that limit, new invoices for that Debtor follow the standard payment flow instead.
Credit note (creditfactuur)
An invoice with a negative total that corrects or cancels a previous invoice.
Debtor
The party that owes payment for an invoice. Pay-only Debtors (no registered account) are covered in the Debtor articles. Debtors with a registered Connect relationship are treated as Finqle Clients, under the Inkoopstroom flow. In Finqle, the Debtor either pays you directly or, after cessie, pays Finqle.
Debtor Portal
The standard portal any Debtor can access with a known email address, to view and pay invoices.
Direct Payment
Finqle's instant payout service. You receive the invoice amount in minutes via SEPA Instant or FPS, minus a factoring fee.
Factoring
The broader financial term for selling invoices to a third party (here, Finqle) for early payment. Finqle uses non-recourse factoring: the credit risk transfers to us.
Factoring fee
The percentage of the invoice amount you pay for Direct Payment. Lower for shorter payment terms.
FPS (Faster Payment System)
The UK equivalent of SEPA Instant. Used for GBP payouts.
Inkoopstroom
The purchase-side flow, covering registered Connect debtors who manage projects, contracts, users, and merchant onboarding themselves.
Invoice
The final billing document sent to the Debtor. In Finqle, invoice numbers start with M for sales invoices issued on your behalf.
KOR (Kleineondernemersregeling)
Dutch VAT exemption for entrepreneurs with annual revenue under € 20.000. KOR users do not charge VAT and cannot reclaim VAT.
KVK
The Dutch Chamber of Commerce. Your KVK number identifies your company in Finqle and on your invoices.
Magic link
A single-use login link sent by email instead of a password. Used to access My Finqle and the Debtor Portal.
Merchant
The supplier or freelancer who delivers goods or services and gets paid through Finqle. Merchants are Finqle Clients under the Verkoopstroom flow.
My Finqle
The Merchant app at my.finqle.com. Where you submit invoices, view statements, and manage your profile.
Non-recourse
Finqle keeps the risk of non-payment. If your Debtor cannot pay (insolvency, refusal), you keep your money. Clawback only applies for invalid invoices, not for Debtor non-payment.
Payment term
The number of days between the invoice date and the due date (e.g. 14, 30, 60). Shorter terms mean lower factoring fees.
Reverse billing (selfbilling)
An arrangement where the Debtor or platform generates the invoice on your behalf based on approved data. Common with marketplaces.
Reverse charge (VAT)
An EU VAT mechanism where, for certain cross-border B2B services, VAT is shifted from the seller to the buyer. The invoice shows 0% VAT and the buyer self-accounts for VAT in their own return.
SEPA Credit Transfer
Standard EUR bank transfer (T+1). Used as fallback when SEPA Instant is unavailable.
SEPA Direct Debit
An automatic collection method where a Debtor authorizes Finqle (or the merchant) to withdraw payment directly from their bank account on the due date, based on a signed mandate.
SEPA Instant
Instant EUR bank transfer (under 10 seconds, 24/7). Default payout method for EUR.
Transaction Statement (T-series)
Document showing how your payout was calculated. Numbers start with T.
Transfer Statement (D-series, akte van cessie)
Legal document confirming that an invoice was assigned to Finqle. Numbers start with D.
UBL (Universal Business Language)
Standard XML format for electronic invoices. Send UBLs to your unique Finqle parsing email to skip manual upload.
VAT (BTW)
Value-added tax. Standard NL rate is 21%. Charged on your sales (unless KOR) and on Finqle's factoring fee.
Verification
The step where Finqle checks that the invoice or Billing Request matches the contract, Debtor data, and legal requirements before payout.
Verkoopstroom
The sales-side flow, covering Merchants: submitting work, getting paid, and managing your account through Finqle's factoring services.