Factoring
Factoring workflows help route receivables or carrier payments through the correct factoring company when applicable.
Invoice remit profiles
Invoice remit profiles control where customer invoices and billing packets route. Admins can manage standard, factoring, subsidiary, or other remit destinations in Organization Settings.
Use the organization default for normal billing. Set a customer default when that customer should usually use a specific remit profile. Choose a different Remit to profile during the Ready review when one invoice needs an override.
Factoring remit profiles can send billing packet emails to the remit profile email instead of the customer billing email. The chosen profile is locked when the receivable moves to Ready, so later profile edits do not change the invoice assignment.
Customer factoring
Use customer factoring when receivables are handled by a factoring partner. Review and lock the factoring remit profile when moving the receivable to Ready.
After invoice delivery is accepted, the receivable keeps the Invoiced lifecycle state but appears only in the Factored queue. It is excluded from the Invoiced tab because its locked Ready assignment uses a factoring remit profile. Recording factor activity is not required to place it there.
Record factor activity later when an advance, customer collection, reserve movement, or fee occurs. Configure the factoring accounting agreement before recording that settlement activity.
Carrier factoring
Use carrier factoring when a carrier assigns payment to a factoring company. In Factoring, select the company's name to review remit and payment details, or choose Edit to update them before releasing payment. The Carriers tab requires View Carriers permission.
Setup checklist
- Confirm whether factoring applies to the customer or carrier.
- Enter factoring company details.
- Confirm remit email and address. The factoring company’s Billing Email accepts multiple addresses separated by commas or semicolons.
- For ACH payments, select Checking or Savings as the factoring company’s bank type before saving.
- Confirm required documents and proof of delivery.
- Confirm who should receive payment.
- Review before first invoice or payment.
Common issues
- Missing factoring company name
- Remit email is incorrect
- Payment routed to carrier instead of factor
- Factored view expected before invoice delivery is accepted
- Invoice or settlement marked paid before the factoring payment is confirmed
Reconciliation
Use factoring records, invoice status, settlement status, payment date, and exported totals to reconcile factored receivables or payables. Resolve mismatched remit details before sending billing packets or releasing payment.