Factor Houses
Find this screen
Open: Settings > Customers and Suppliers > Factor Houses.
How to
Add or edit factor house details
Click Add or Edit and enter the relevant details.
Delete a factor house
Click Delete. If the factor house is linked to a supplier account, you'll see a warning message.
If you continue to delete the factor house, it'll also be removed from the supplier's account.
Link a factor house to a supplier account
- Click Link suppliers.
- Click Link.
- Select the supplier from the drop down list.
Once a supplier is linked to factor house, all remittances and cheques are sent to the factor house.
You can also link and unlink suppliers from the Payment tab of the supplier account.
Remove a factor house from a supplier account
- Click Link suppliers.
- Select the supplier and click Unlink.
You can also link and unlink suppliers from the Payment tab of the supplier account.
Useful info
About factor houses
Factor houses are third party companies employed by suppliers to collect payments from their customers.
If any of your suppliers use factor houses to collect payments from you, you can create records for them and link to the appropriate supplier account.
Once you've linked a supplier account to a factor house, any remittances and/or cheques are printed using the factor house details. This is to make sure that these are sent to the correct organisation.
Remittances and cheques are only printed when you use automatically generate payments for your suppliers using Payment Processing.
What happens when I
Link a factor house to a supplier account?
Subsequent cheques and remittances are printed with the factor house details.