Keeping a steady income flow may not be an easy task for many car hauling companies, especially for small, or newly established ones.
Carriers who decide to hire a factoring company can now use the SmartHaul auto-invoicing functionality to send out the required paperwork in an instant -- right after the order is done.
How does invoicing a Factoring Company work?
Once an order is marked Delivered, SmartHaul will send an email containing an invoice billing your Factoring Company, the Dispatch Sheet for the order, and the BOL as proof of delivery. Your customer, the shipper, will get an email notification along with the status update to expect an invoice from the Factoring Company you hired.
Adding a Factoring Company to your Accounting Details.
To set up your Factoring Company, head to your Company Profile page. Within the Accounting Details section, find the Edit button. You will then see the “Use Factoring Company” switch. Make sure you turn it on.
Fill up your Factoring Company details, as all fields except the phone number are required.
Using Factoring Company by default.
If you are one who needs all orders with billing payment terms to be financed in a timely manner, make sure the default option is ON. SmartHaul will bill your Factoring Company by default, no matter who the shipper is.
Should you only need their services with a handful of shippers, leave the checkbox empty, as you can forward invoices towards factoring individually from within the orders as they come.
Using Factoring Company per order
Open the order you want to bill your factoring company for. From the “Payments” section, click on the “More” button, and select “Scheduled Shipper Invoice”. If you are usually billing shippers directly, the “Use factoring company” checkbox under the “Bill to” section may be unchecked by default. Just make sure it’s checked and the system will fill up the company details automatically for you.
If you find yourself doing this way too often, consider setting up the use of a factoring company by default from your Company Profile page. You can then go the other way around -- billing shippers for individual orders by going through the same steps, unchecking the factoring option from the “Bill to” section.
Don’t hesitate to reach out to our Support Team should you have any questions or feedback.
Happy Shipping! 🤩