Yes, exactly.
Can the system differentiate between payments made by check (requiring 3 days clearance) and the payments made by direct electronic transfer?
No, you will need to manually enter in the date you want to be used for fee calculations (under post date.)
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In the Receipt Entry screen, the system assumes that the payment is made by check and requires that a check number is entered. How do we enter a payment that is made by direct transfer into our account?
Most of our users will put the direct transfer reference number in place of the check number. You can also use the receipt notes for this info.
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How do I pay off an invoice that has gone bad with other rebates.
There are two ways to go about this, depending on how you want the fees to work. The first method is to settle the invoice even though it has not been paid (or even if only a small amount has…
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How do I import Invoices from Excel?
WinFactor allows you to import invoices from an Excel spreadsheet. To import invoices, click on Advances from the main menu, then the Import button at the bottom of that screen. The spreadsheet must be in a specific format, to view…
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How do I account for a short payment on an invoice or a credit memo being issued after we advance on the invoice?
The easiest way to handle it is to not worry about the credit memo and apply the payment (even though it is short.) When you settle the invoice, the software will see the short payment and deduct the balance from…
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Is there a way to make the system show the day you buy the invoices as day one? Because right now, or at least the way I entered in the invoicing the system does not show day one until the following day.
Yes, under Company Info, Transaction Rules, invoices first day should be day of purchase instead of day after purchase.
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I want to show all activity for a single client: assignments (advances), settlements, invoices outstanding and everything else that went on with that client for a specific period of time. Does that report exist?
WinFactor has that and more! With our free client Web access feature, your clients can access current reports on their own accounts as well.
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How do I handle an invoice that I received payment on but did not Factor?
This is called a non-factored invoice. While entering the receipt, you will notice an invoice number of the voucher that does not exist in WinFactor. From the receipt detail screen, click on the Add button, select the terms, invoice number and…
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Is there a shortcut in the receipts screen to post payment quickly?
Yes, double click on the amount applied field and WinFactor will fill in the outstanding balance of the invoice and mark it as paid.
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