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Jul 26, 2021 at 08:18 AM

Factoring in SAP ByDesign

533 Views Last edit Jul 27, 2021 at 12:55 AM 3 rev

Dear Experts,

I am trying to set up a factoring scenario in SAP Business ByDesign. I was able to manage the first two and the last journal entries below via. customer invoice & bank payment advice. I am stuck with reclassifying standard accounts receivable to Factoring Receivable & then clearing the same at the time of collection from the customer.

Is there any workaround for Receivables Factoring? We are not considering the add-on at the moment. Please see below the expected entries to be posted.

Transaction Particulars:

Customer Invoice Posting

Accounts Receivable A/c

To Sales A/c

Inflow of Cash from Bank

Bank A/c

To Borrowings A/c

Reclassification of Receivables

Factoring Receivable A/c

To Accounts Receivable A/c

Collection from Customer

Bank A/c

To Factoring Receivable A/c

Repay to Bank

Borrowings A/c

To Bank A/c

Also, would like to have reports, where we can see what invoices were sent for factoring.

Regards,

Kshama