Setting up a factor

• 08/02/2024
• 7 minutes to read

To be able to send factoring proposals to a factor, you must first set up the factor in Microsoft Dynamics 365 Business Central. Note that you must either set up or edit one or more data exchange definitions for each factor, as described under Setting up or editing data exchange definitions. You must also add customers for every factor you set up – see To assign a customer to a factor for details.

To set up a factor

To set up a factor in Continia Finance, follow these steps:

1. Search () for and select Factors.
2. On the Factors page, in the action bar, select New to open the Factor page.
3. On the General FastTab, in the No. field, enter a free-text number for factor identification purposes.
4. Optional: To add more information about the factor, fill in fields like Vendor No. (if the factor is a vendor), Name, and Address.
5. Optional: Fill in some or all of the remaining fields:
   • Our Factor No.: Enter the customer number or account number provided to you by the factor.
   • Due Date Tolerance: Enter a standard Business Central date formula to enable calculation of the maximum due date. Your entry will be autofilled into the Due Date Formula field on the Create Factoring Proposal page and then used to calculate the Calculated Max. Due Date on the Factoring Proposal, displayed in the table on the Proposal Lines FastTab.
   • Limit (LCY): Specify the amount the factor will accept for factoring.
   • Blocked: Enable this to block the factor, for example if the factor is no longer used.
6. The Export FastTab allows you to specify how files containing the receivables should be exported. Fill in the fields as needed:

   Field	Description
   Data Exch. Def. Export Proposal Lines	Select the data exchange definition that should be used to export proposed receivables. You can select a Continia definition (starting with FAC_EXP) or create your own.
   Filename Export Proposal Lines	Specify the name of the exported files.
   Filename Including Proposal No	Enable this to include proposal numbers in the names of exported files.
   Data Exch. Def. Exported Applied Lines	Select the data exchange definition that should be used to export receivables that have already been balanced up to a given cut-off date. You can select a Continia definition (starting with FAC_EXP) or create your own.
   Filename Export Applied Lines	Specify the name of the exported files.
   Data Exch. Def. Export Customer Data	Select the data exchange definition that should be used to export customer data. You can select a Continia definition (starting with FAC_EXP) or create your own.
   Filename Export Customer Data	Specify the name of the exported files.
   Include Headlines File	Enable this to include column headers such as Remaining Amount and Document Date.
   DateTime Format for Filename	Fill this out using standard Business Central DateTime formats to add a date and time suffix to the name of the exported files.

   Note

   Data exchange definition templates covering the key information from the factoring proposals are provided automatically during the setup. To learn more about data exchange definitions, see Setting up or editing data exchange definitions.

7. On the Import FastTab, in the Data Exch. Def. Import Retransition Data field, select the data exchange definition that should be used to import retransition data files (containing factor feedback on the exported proposals) into the system – if any such files exist. You can select a Continia definition (starting with FAC_IMP) or create your own.
8. In Handling of Retransition Lines, specify if the retransition files with factor feedback should include all exported lines or only accepted lines.

The factor is now set up and ready to have customers assigned. You must also set up or edit a data exchange definition to be able to exchange data with the factor.

To assign a customer to a factor

Once you've set up a factor, you must assign customers whose invoices the factor can purchase from you. You can assign individual customers or use batch processing by using the available filtering options (such as No., Customer Posting Group, and Currency Code).

To assign a customer to a factor, follow these steps:

1. Search () for and select Factors.
2. On the Factors page, select the factor that you want to assign a customer to.
3. In the action bar, select Customers to open the Factoring Customers page.
4. In the action bar, select Add Customers to open the corresponding filter page.
5. Use the filters to find the customers whose invoices will be assigned to the factor. Select OK to close the page and add the filtered customers to the selected factor.

You're now ready to create and export factoring proposals.