Pro soluto factoring bill - Insert

If the bill is of the Factoring type (pro soluto or pro solvendo), it will be necessary to set the Factoring Bank Account No..

The Payment Method Code and the Factoring % will be proposed automatically.

Pro soluto factoring bill - Documents selection

Using the «Select Invoices» or «Suggest Invoices» actions, you can select the invoices to be included in the list.

Pro soluto factoring bill - Posting

Upon posting, the bill is «issued» and archived in the archive «Issued Invoice Discounting and Factoring Bills».

Pro soluto factoring bill - G/L entries

The recording of the pro soluto factoring list will make the following general ledger entry: Factoring Acc. No. (Factor Credits)   @   Customers Credits The factored invoices will be paid with a payment type movement that credits the Factoring Acc. No. (Factor Credits)

Pro soluto factoring bill - Settlement

From the Issued pro soluto factoring bill, it is possible, upon maturity, to proceed with the refund through the specific «Refund» procedure.

Once the movements have been selected through the line action «Calculate amount to be refunded», it will be possible to enhance the field «Factoring Amt. To Close (LCY)».

By selecting the «Refund» action, the accounting movements will be created in the Batch indicated in setup.

Through the «General Journals» action, it will be possible to access the provisional accounting entry.

From the registration batch, it will be possible to verify / integrate the entries and post it.

The posting of the refund movements will make the following general ledger entry:

Bank C\C (Factor)  @ Factoring Acc. No. (Factor Credits)

The posting of the refund entries will update the Closed Factoring Amount (LCY) on the lines of the bill.

Pro soluto factoring - G/L entries summary

The general ledger records relating to the pro soluto factoring management process are, therefore, the following:


EOS Labs -