factoring account

factoring account

Didn't find your answer?

Hi all,

I have a Lloyds Factoring statement and want to reconciled the factoring balance in sage, but the problem is, I have see three type of balance in factoring statement i.e Sales Ledger Balance (£12,314), Current Account (£10,000) and Client balance account (£2,314) and confused the factoring balance which I show in sage & final account.

Please advice for the balance which show in sage?

Replies (1)

Please login or register to join the discussion.

avatar
By Kelly1234
09th Sep 2015 15:45

It is the difference between the closing sales ledger control and the closing client balance account - if you have the full factor statement for the month end to hand it should tell you in the notes the amount which is due to commerical finance and also explains other things which should help your understanding of how the statement works

Thanks (0)