web
You’re offline. This is a read only version of the page.
close
Skip to main content
News and Announcements icon
Community site session details

Community site session details

Session Id :
Dynamics 365 Community / Forums / Finance forum / Vendor Factoring Account
Finance forum

Vendor Factoring Account

(0) ShareShare
ReportReport
Posted on by Refshauge 277

Hi.

Is there anyone who can elaborate on the functionality around "Factoring account" on the vendor master. 

1638.Factoring.PNG

Here I can set a relation to another vendor which I expect to be the factoring vendor.

When receiving invoice from the vendor I would have expected to be able to choose the factoring vendor's bank account and details to be able to sent a correct payment file to the bank, but it does not work.

Categories:
Finance and Operations
I have the same question (0)
  • Suggested answer
    Timo Tenni Profile Picture
    Timo Tenni on at
    RE: Vendor Factoring Account

    When adding Factoring account on the vendor, registering and posting an invoice to the vendor and creating payment proposal and payment file for this invoice, name of the receiving party is fetched from the Factoring account and the bank account from the original vendor. This is by design and you get the same result.

     

    Factoring company has opened and own bank account for the vendor - the bank account is owned by the Factoring account. And Factoring account has informed the vendor of the bank account they are expecting to receive the money from the company paying the invoice. When receiving the payment file, bank controls that the bank account and the owner. So the name of the factoring account must equal to the name of the receiving party of the vendor.

  • Verified answer
    Refshauge Profile Picture
    Refshauge 277 on at
    RE: Vendor Factoring Account

    Hi.

    I manage to figure out this functionality.

    It turns out that the newest file formats, at least for ISO20022 credit transfer, implements this feature. When you  point to another vendor using this factoring account, the payment file created will use that vendors name and address as the beneficiary in the payment file. This functionality lays in the ER mapping and not in X++.

    Though, the actual bank account to make the payment to, must be created on the original vendor and not on the factoring account.

    @Aris, this is a standard field/functionality at least in the newer version. Maybe a hotfix in 7.2 and earlier.

  • Suggested answer
    Community Member Profile Picture
    Community Member on at
    RE: Vendor Factoring Account

    Hi Refshauge,

    The field you mention is not a standard D365 field. It is a customisation and most probably you specify the factor vendor account and not the vendor bank account. You will need to confirm with the company or the consultant on how exactly it works during the payment process.

    Kind regards

    Aris

Under review

Thank you for your reply! To ensure a great experience for everyone, your content is awaiting approval by our Community Managers. Please check back later.

Helpful resources

News and Announcements

Dynamics 365 Community Calls Return
Join experts in person to explore low code and AI agents at the Power Platform Community Conference sponsored by Microsoft
Responsible AI policies for the Community

Quick Links

November Spotlight Star - Khushbu Rajvi

Congratulations to a top community star!

Forum Structure Changes Coming on 11/8!

In our never-ending quest to help the Dynamics 365 Community members get answers faster …

Dynamics 365 Community Platform update – Oct 28

Welcome to the next edition of the Community Platform Update. This is a status …

Leaderboard > Finance

Last 30 days Overall leaderboard

Featured topics

Product updates

Dynamics 365 release plans