Factoring Management and Workflow
Factoring AR/AP Flags
Customers that are being factored can have their Preferred Invoicing Method set to Factoring. This will allow the invoicing data to be sent to the preferred factoring company via the Factoring Management Page.
Carriers that are being factored can have the Factor Automation flag turned on or off. If it is turned on, the carrier bill data can be sent to the preferred factoring company via the Factoring Management Page.
Factoring Management Page
The Factoring Management page is designed to give users who are factoring shipments a detailed view of the shipments that need to be factored. The intent of the page is to be able to see all shipments that have been delivered within a specified date range. (defaulted to 90 days).
In order for a shipment to appear, at minimum, the Customer must be set to Preferred Invoicing Method = Factoring. Carriers can be set to Factor Automation = True, however, if it is not, a warning will appear indicating that the carrier is not set to Factor. If this is the case, only the Customer's data will be sent to the Factoring Company.
Users can filter by Not Factored / Factored / Show All, Vendor, Customer, or Shipment ID.
- Shipment ID
- Invoice Payer Name
- Invoice Total
- Invoice Delivered Status
- Checks to ensure that the Invoice has been delivered to the end customer via TMS.
- Vendor Name
- Vendor Total
- Factored Status
- Document Status
- Checks to ensure that all necessary documents are available in order to be factored.
- Mark as Factored
Shipments can be factored to either Axle Payments or Triumph Business capital by selecting the shipments and pressing the Factor button.