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 amount and any transaction fee that may apply.  If you do not have a set of terms called “No Fee,” you may want to setup a set of terms that charges no fee (this is done under Tables/Setup, Terms.)  This will enter the invoice into the system without any advance.  You can receive the full payment against it and WinFactor will rebate the full amount of the payment to your client during the settlement step.  If it is your policy to charge a transaction fee for handling the check, key in the amount you want to charge in the Transaction Fee box.  As an alternative, you can enter the invoice under advances and simply put zero as the advance amount.  Be sure to consider what fee schedule you attach to this advance.  Some companies charge regular fees and some do not.  Either way, you can configure WinFactor to work they way your company does.

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