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Factoring invoices


For vendor statistics to be kept independent of factoring companies, it is possible to specify the actual vendor behind an invoice from a factoring company.
When searching for an invoice from a vendor that used a factoring company, it will be found with the actual vendor's name.

Factoring company in the vendor register


How factoring companies, ie payee who is not a real vendor, are managed in the vendor register depends on the financial system and the integration between the invoice application and the financial system.

In some cases, information about factoring companies is transferred automatically, but if it is not, you can mark these vendors in the Vendor Register in the administration tool.

If you are not sure if it works for your financial system, contact our Customer Center by registering a support case in the customer portal.

To mark factoring companies in the administration tool, follow these steps:

  1. Go to the menu item Base Register - Vendors - Vendors, click View, and then the vendor in question.
  2. Check the Factoring box and click Save

Incoming invoice from an existing factoring company

Incoming invoices from factoring companies (where the factoring company is a registered vendor in the Vendor register) will automatically be sent to the queue New Vendor

When you open the invoice the queue New Vendor, it will look like this:

  1. Select the actual vendor behind the invoice by clicking on the blue button next to one of the VendorNo fields and search for the actual vendor.
  2. Then forward the invoice.

When the invoice is forwarded and arrives at the queue New Invoice Review (and also the other subsequent stages), the vendor information in the invoice window will look as follows:

In the VendorID field, "factoring" is displayed to indicate that the vendorID to which payment is to be made is a factoring company.
The field Vendor's name displays the name of the underlying vendor.

Change of vendor in the queue New Invoice Review

To change or remove the factoring company on an invoice that has come further into the flow than the queue New Invoice Review, the invoice first must be restarted in the same way as when a "regular" vendor needs to be changed.
In New Invoice Review, you do the following:

  1. Click the magnifying glass to the right of the field VendorID and a subform opens.
  2. The upper fields are pre-filled with the invoice's current vendor and to change this you open the search form by clicking on the magnifying glass to the right of the field.
  3. Find the right vendor and click OK
  4. To specify factoring companies, use the lower fields in the same way as above. If a supplier is incorrectly selected in this field, it can easily be removed by clicking the red button with the trash can.
  5. When the correct vendor information is selected, click OK.

Incoming invoice from a new factoring company

Incoming invoices from a new factoring company that is not in the Vendor register will, after import, be sent to New Vendor in the same way as other invoices from new vendors.

After the company is registered in the financial system's vendor register and updated with flagging for factoring company, the factoring company must be linked to the invoice in the invoice application in the same way as for an existing vendor as above.