Client Fuel Advances can be an important part of your factoring business and WinFactor affords you an array of options to make it easy and profitable. This feature allows you to advance money to a client prior to purchasing an invoice. This type of advance is traditionally used for Fuel Advances, but could be used for any type of short-term advance.
WinFactor allows you to establish default settings for both the advance percentage and fees charged on a client by client basis. Such defaults will auto-populate the fuel advance entry screen each time you enter a new advance. Once you have posted the Fuel Advance, WinFactor’s versatile and user-friendly offering makes it easy to track what is owed as well as collecting repayment. WinFactor will even remind you when you are purchasing the invoice that a Fuel Advance has been given on that invoice or load number.
And finally, the software provides a wide array of reports and at-a-glance listings that allow you to manage the entire Fuel Advance process!
Current WinFactor users can learn more about Fuel Advances by visiting the WinFactor Academy here: http://academy.winfactor.com/Articles/ClientFuelAdvances/
If you would like a demo of WinFactor, please click here.