Cloud Software: Developed using the latest Microsoft technologies (SQL Server, ASP.Net and Microsoft Access), WinFactor gives you all the power and user friendliness of a windows application, but delivered over the cloud. Reports look professional and can be emailed straight from the cloud to you or your customers. Pull down boxes and buttons make user input faster and more accurate.
Credit Limits: Credit limits can be set for both Clients and Customers. Each time new invoices are purchased, WinFactor will check both the Client and Customers credit limits and warn the user if either are over the limit. There is also a Credit Compliance report that shows all Clients or Customers credit limits, current usage and variance.
Fee Calculations: WinFactor calculates fees automatically. Its flexible system allows fees based on invoice amount or advance amount, an unlimited number of terms, bracket proration, minimum charge days and recourse limits. You can always override an automatic calculation.
Invoice Verification: WinFactor will automatically determine which invoices need to be verified. It will provide a convenient way to print out verification letters, as well as track the verification process. On both the Client and Customer Entry screens, you can specify if WinFactor should mark any invoices as needing to be verified. A minimum dollar amount is set per client or customer, and any invoices purchased that exceed that minimum amount will be marked for verification.
Once an invoice has been marked for verification, you can print out a letter to the customer requesting verification using Microsoft Word. WinFactor creates a Word merge file with all the client, customer and invoice information. Because the verification letter is a Microsoft Word document, it can be customized to the exact way you want it.
You can also see a listing of all invoices that need verification and may not have been received. You can even keep notes on the verification of each invoice (i.e.. who you spoke to, when, etc.)
Recourse Buy Back: WinFactor will automatically remind you when an Invoice has aged beyond its recourse limit and needs to be bought back by the customer.
Broker Statements: WinFactor allows you to assign multiple brokers to clients and multiple clients to a broker. Then, when new advances are created, WinFactor automatically attaches these brokers to the advance with their default commissions. The user can then add or delete brokers from the individual advance. WinFactor even has a Broker Commission Statement report.
Cofactor Statement: Multiple cofactors can be assigned to an advance just like brokers. Terms can be set up on an advance by advance basis. WinFactor has a Cofactor Statement report as well.
Quick Receipt Screen: With WinFactor’s Quick Receipt Screen, the user is presented with a focus list of invoices to choose from in order to apply the receipt. By only displaying outstanding invoices for that client/customer combination, the user has less records to sort through to find the correct invoice to pay. WinFactor supports multiple receipts to an invoice as well as partial payments.
Intelligent Rebate Screen: When it is time to issue rebates, WinFactor finds all invoices that have had payments posted to them, finds any recourse buy back invoices and also collects any outstanding charges. It will put them on a list for you to select which ones to pay. You can even print out a worksheet with details on the fee calculations as well as net rebate. After you have selected which invoices to rebate, WinFactor will even generate a Client Rebate Statement with a detailed history of each invoice, amounts advanced and paid along with fees charged.
Other Charges: You can enter a charge to a client for wire transfers, Fed-ex charges, startup, etc. at any time. The next time you go to issue a rebate, WinFactor will automatically deduct the charges.
To Do List: WinFactor has an integrated To Do list. It will even remind you of overdue tasks.
Export Reports to Microsoft Word or Microsoft Excel All reports can be exported to Word or Excel for fine tuning or just playing “what ifs”.