What is factoring report?

Factoring reports

In order to make use of factoring reports a company must enter into a internet bank agreement. On Swedbank internet bank you can view and monitor invoices assigned for financing and administration as part of the factoring contract, daily payment reports (advance payments, reserves, forwarded payments) and reports on the transactions made during the month (limits, unpaid invoices, consolidated reports, commission fees, returned invoices and annexes to payment orders).

The advantages of Swedbank internt bank factoring reports:

  • the reports can be followed easily;
  • information is available in real time;
  • limits and unpaid invoices can be monitored and sales decisions can be made accordingly;
  • information is able to be quickly obtained about payments that have been received;
  • invoices can be saved in XML format and read in an accounting system;
  • it is possible to view and print out consolidated reports and detailed reports on transactions made during the previous month.

There are two types of factoring reports:

  • Current reports (as of the current date)

    • Limits - the factoring limit, buyers’ risk limits, exhausted limits and available limits;
    • Outstanding invoices - information regarding financed and non-financed invoices that have not been paid by buyers. This includes invoices whose payment term has been exceeded and invoices whose payment term is yet to expire;
    • Unpaid credit invoices - currently unpaid credit invoices;
    • Unpaid recourses - information about unpaid reassigned invoices;
    • Unpaid excess - currently unpaid excess;
    • Accrued invoices - invoices paid by the buyer. This report can be obtained per day within the last 31 days.
  • Reports for the previous calendar month

    • Limits - the factoring limit, purchasers’ risk limits, exhausted limits and available limits;
    • Outstanding invoices - information regarding financed and non-financed invoices that have not been paid by purchasers. This includes invoices whose payment term has been exceeded and invoices whose payment term is yet to expire;
    • Consolidated report - the sales account as of the end of the month of reporting, which contains the total amount of invoices which have been assigned and accrued during the month, credit and reassigned invoices and the same in terms of financed and non-financed invoices;
    • Amounts paid in the month of reporting - containing the total amount of advance payments made, reserves, forwarded payments, set-offs and other fees;
    • Commission fees - an invoice of commission fees calculated in the calendar month;
    • Returned invoices - reassigned and returned invoices;
    • Paid credit invoices - credit invoices paid in the current month;
    • Calculated interest - interest calculated in the calendar month;
    • Paid interest - interest paid in the current month;
    • Sets of payment order annexes. Sums paid in the previous month by invoices: advances, reserves, forwarded payments and set-offs..