Line of Credit Funding is another great way for a factor to increase revenue and expand the range of services that you provide to your clients. Enable the line of credit option and fund your clients based on their overall Accounts Receivable value or other assets.
Receive payments on balance or on interest charges and easily reconcile the closing of a line of credit. The automatic reconciliation feature is especially useful when ether the balance or interest charges may be underpaid or overpaid.
You can fund multiple lines of credit, finance purchase orders and do conventional invoice factoring, all for the same client.
Line of Credit Features
- Line of credit funding may be used to recover outstanding purchase order advances or factored invoices
- Track credit lines for each client using individual Line of Credit Receivables accounts on your general ledger balance sheet
- Create rate structures specifically for use with credit lines
- Track line of credit fees under user assignable General Ledger account numbers
- All accounting detail is automatically created and flows seamless to General Ledger
- Assign lines of credit to schedules to help manage and keep track of credit lines
- Increase funding for a line of credit at any time
- Lines of credit appear along with invoices on the same aging reports and view screens
Manage multiple credit lines, finance purchase orders, do conventional invoice factoring or even take on fully outsourced A/R management for your clients. Factoring Plus truly offers factors the flexibility to choose from a variety of ways to earn money.
Combined with Passport Business Solutions widely used accounting system, Factoring-Plus™ seamlessly combines the functions and features of factoring software with those of accounting software.
To learn more about Line of Credit Funding with Factoring-Plus, email us at email@example.com, visit our web site at www.cap-soft.com or call Capital Software at 614-336-2865. Visit the Passport Business Solutions web site www.pass-port.com.