![]() Without these, you will not be able toĬredit-worthy clients are another very important requirement for invoice Will be hard-pressed to find a legitimate source that will provide you withīy far the most important thing needed to qualify for Without proof of the legal creation of a corporation, you Grab a copy and make sure it lists your company name, This proves the legitimacy of your business to the factoring company. In order to qualify for invoice factoring services, you need to provide proof that you have a legally documented business – which means you must have a copy of your Articles of Incorporation on hand. You and your factor will determine an appropriate timetable for submitting the necessary paperwork. This report is an important part of the factoring paperwork. Accounts receivable aging reports may also be referred to as a schedule of accounts receivable or just a schedule.įactors use this form to keep track of what invoices are outstanding, how much money is due, and when they will receive payment. This report lists out unpaid invoices, credit memos, and notes by date. Accounts Receivable Aging ReportĪnother document required for factoring is an accounts receivable aging report. ![]() The more information you provide when filling out an application, the more accurate the invoice factoring quote will be, so be as detailed as possible. Applications vary depending on the factor’s needs, but most of them ask for things like business and personal phone numbers, email addresses, and business details.Īpplications also normally ask for your business’ industry sector and your monthly invoicing volume. An application is one of the most important requirements for invoice factoring. ![]()
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