Invoice Finance
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I am currently looking at using the software to put a forecast together for a business that uses invoice discounting.
Two challenges that I have come across:
1) The business makes different types of sales with some of these subject to the ID facility and some of them not. The forecaster model appears to need a % inputting to differentiate between these for modelling purposes but in this case the different types of sales vary on a monthly basis so the % will be different. Is there anyway of applying the ID facility to just certain types of sales rather than across the board?
2) A further complication is that the ID provider is currently looking at providing a facility against other types of sales. If it does it will likely do this at a different advance rate %. Is it possible to run different ID facilities against different types of sales?
Thanks in advance.
Hello Paul,
Thank you for your message.
At present the way it is set up is to apply a percentage across all sales. So for example if 80% of your sales were ID applicable you enter this as your percentage. You then enter the percentage of that amount that will be advanced from the Invoice Discounting company.
I am working on an upgraded version which addresses this, but this may take some time to finalise.
At present the new version will probably be able to cope with different ID advance rates too.
Sorry this may not be the answer you were looking for.
If you have any further questions, please let me know.
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