Funding your Float Charge Facility

For example, the customer below has a $500,000 credit limit with $444,457.58 remaining in their spending power. They have a pending top-up of $50,000 which then increases their available spending power to $494,457.58 once the top-up clears.

Overfunding allows you to add funds in addition to your credit limit to increase your overall spending power. In order to overfund your Float balance, all you have to do is initiate a top-up on top of your existing Charge credit limit. You can do that by pressing the "Transfer Funds" button in the top right of your funding page

If you set up your accounting software for Charge, your Float clearing account in your accounting software should appear as a "Credit Card".

In order to correctly record your additional prepaid balance in Float (overfunded amount), you have to record the bank transfer to Float in your Bank Feed as a transfer to the "Credit Card" clearing account that you created for Float Charge facility.

Note: since you are overfunding the Float account in your accounting software, your Clearing account balance may appear negative for a short period of time. That's expected and once transactions are exported from Float and are added against your creating balance, the negative balance will disappear.