FC-25Q3 S16 & S17 (8/14-9/11)
New: Daily Volume on Factor Dashboard
We’ve added a new Daily Volume section to the Factor Dashboard. This shows invoice totals and counts for the current day, broken out by Approved and Funded statuses. Totals reset automatically at 12:01 a.m. each day.
Update: IIF File Date
The date shown on exported IIF files will now match the selected End Date from the report. This ensures accurate alignment between report data and exported files.
New: Manual Transactions Linked to Invoices
You can now link a Manual Transaction directly to an invoice. Transactions can be linked once the invoice has been funded, whether open or closed, as long as it belongs to the selected client. Pending invoices cannot be linked.
New: Funding Chargebacks
A new feature allows invoices that are in Dispute or Ineligible to be charged back against a funding batch. When approving invoices for funding, there is now a section that displays these invoices, giving you the option to include or remove them. If included, the invoice will be charged back, and the funding amount will automatically be reduced. The chargeback amount defaults to the full invoice balance but can be updated to process a partial chargeback.
This is an optional feature that must be enabled in Settings > System Configuration > Optional Features if you would like to use it.
New: Write-Off Ledger
A new ledger called Write-Offs has been added to the system. This ledger can be used with Manual Transactions to write off invoices after they have been charged back. The workflow is to first charge back the invoice as normal, then create a Manual Transaction to increase Cash Reserves, with the offsetting entry recorded in the Write-Off Ledger. Additional functionality for the write-off feature will be introduced in future updates, but for now this workflow allows invoices to be written off through Manual Transactions.
For clients using the QuickBooks integration, this new ledger will need to be configured in Settings > Admin > Journal Setup. Add the “Write-Off” Ledger and map it to the appropriate QuickBooks account.
A new sensitive permission has also been added to control access to this feature. To allow users to process write-offs, enable the permission “Can create write offs” under Sensitive Permissions in Settings > Factor Users > Roles & Permissions. This must be turned on for any role that will use the feature.
New: Optional Payment Services – Factor Settings & Funding Instructions
A new feature has been added that allows clients to set a default payment service for each payment method (ACH, Wire, etc.). This is especially helpful for clients using funding integrations like Tank or Bankshot, as it allows you to choose which payment service (Tank, Bankshot, FactorCloud) will be used for each funding method. These defaults can be configured in Settings > System Configuration > Payment Setup.
In addition, there is now a client-level setting in the Funding Instructions section within each client profile. Here, you can select the payment service (Tank, Bankshot, FactorCloud) for each specific funding instruction. If a client-level selection is made, it will override the system default.
A new Payment Channel column has also been added to the Funding screen, which displays the payment service that will be used for that batch.