More and more businesses that are utilizing AR (Accounts Receivable) factoring to help improve their Cash Flow, are often burdened with increased administrative tasks. From segregating ‘factored’ invoices from ‘non-factored’ invoices, and sending invoice details to the factor service from applying and reconciling payments, it is a labor intensive process.

With Achieve AR Factor, these processes are fully automated, providing SAP Business One users a timesaving and effective means of managing customer credit and payments that are ‘factored’ as well as ‘non-factored’.

Credit Limit Update

• Import list of customers and credit limits from AR Factor Service
• Update BP Master records with new credit limits

Sales Order Approval

• Sales orders flagged to be Factored are not approved until verified by AR Factor Service
• Factored Sales Orders are automatically submitted to AR Factor Service within 5 minutes of entry
• Approval/Rejection is received from AR Factor Service and updated on Sales Orders
• Approved orders are automatically marked for processing
• Rejected orders are placed on Sales Order Hold and a Credit Manager receives Alerts of Rejections

Invoice Submission

• Factored Invoices are sent to AR Factor Service daily in a batch file

Incoming Payments Retrieval and Processing

• Payment information is received from AR Factor Service daily in a batch file
• Payments in full are automatically applied to invoice documents
• Partial payments are applied on account
• Payments that do not match existing open documents are applied on account

Other Features

• AR Factor Service Integration Menu on Business One Main Menu
• AR Factor Service code and ID on Business Partner Master screen
• Validation of Terms Codes and Payment Means for AR Factor Service Customers
• Conforms to Business One Methodology for Payment Consolidation

(A Contract with an AR Factor Service, such as CIT, is required to use this program)