Repay Advances (tfcmg6201m000)
Use this session to repay advance payments that you received from the business parter.
You can repay advance payments to factors as well as to other types of pay-by business partners. For factored invoices, if the customer does not pay the invoice, the factor will request to be reimbursed. For details, refer to Factoring.
Click to generate credit notes for the business partner that cover the selected advance payments. The credit note is composed, printed, and posted in Invoicing. You can view the credit note in the Invoices (cisli3105m000) session. After repaying an advance, you must unfactor an equal amount in the Settle, Repay/Unfactor Factored Invoices (tfcmg6200m000) session. For details, refer to Factoring - receipts.
Click to list the selected advances in the Specified Advances (tfcmg6211m000) session. You can use this session to refine the selection.
Field Information
- Pay-by BP
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The pay-by business partner from whom you received advance payments on factored invoices.
- Transaction Type
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The From and To fields define a range of: transaction types for which you want to repay the advance payments.
- Transaction Type
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The From and To fields define a range of: transaction types for which you want to repay the advance payments.
- Document No.
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The From and To fields define a range of: advance payments receipts for which you want to repay the advance payments.
- Document No.
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The From and To fields define a range of: advance payments receipts for which you want to repay the advance payments.
- Line
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The From and To fields define a range of: advance payments receipts for which you want to repay the advance payments.
- Line Number
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The From and To fields define a range of: advance payments receipts for which you want to repay the advance payments.
- Document Date
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The From and To fields define a range of: document dates of the advance payments receipts for which you want to repay the advance payments.
- Document Date
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The From and To fields define a range of: document dates of the advance payments receipts for which you want to repay the advance payments.
- Factoring Commission Percentage
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The default or average factoring commission percentage that applies to the advances.
An advance can be received for invoices belonging to more than one customer. The advance is for an amount minus the factoring commission. When the advance is received, LN does not post the factoring commission. But when the advance is repaid, the factoring commission must also be paid . As the advance can be for invoices of more than one customer, the factoring commission percentage cannot be retrieved from the Pay-by Business Partners By Factor (tfacr0116m000) session. Therefore, you can enter a average or a default percentage in this session.