Hello All, could someone help me with the Sage process for factored invoices i.e. what accounts to debit and credit when money comes in from the factoring agents ant their charges/deductions.
I havent dealt with factoring for a few years but from what I remember the receipts received were processed as per normal receipts from individual customers using the bank account factoring money went into. The charges were processed as a payment from the same bank account This meant the receipts and payment together equalled the payment received.
