If your system is set up to use Flexible Factoring for Supplier Invoices you can now automate the payment of an invoice to a third party, e.g. a Factoring Agency.

You can enter or browse the Factor on the invoice header details screen. It must be a factor that has been set up for the supplier. Any default factor for the supplier is also displayed.

If the factor entered has been set up with start/end dates for a period of activity, the invoice date must be within those date ranges, otherwise a warning message is displayed.

As with Accounts Payable invoices, the invoice payment is directed to the factor instead of the supplier. The invoice item will post to the actual supplier account. If the factor is left blank, the invoice payment will be made to the supplier.

See Also :

• Flexible Factoring:
  • Suppliers
  • Invoices
  • Payments
  • Journals
  • Change Open Item Status
  • Enquiries and Reports
  • Year-End Supplier Cleardown
  • Commercial Papers (Enhanced)
• Suppliers :
  • CIT Details
  • EC VAT Intrastat
  • Supplier Enquiry
  • Supplier Details Report
  • Year End Supplier Cleardown
• Supplier Maintenance :
  • Supplier Codes
  • Multiple Control Accounts
  • Small Firms Indicator
  • Supplier Payment Terms
  • Supplier Stop Status
  • Balance Forward Accounts
  • Analysis Fields
  • HMRC Reference
• AP Invoices and Credit Notes
• AP Cash Entry
• Creating/Generating Payments
• Accounts Payable Enquiries
• Accounts Payable Journals
• POP Invoices
• Purchase Letter of Credit Lifecycle
• Producing Letters of Credit