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RBS Factoring receipts/payments

nonsensical payments

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This is wierd - all ideas welcome at this point ...

- Co A & Co B are related.

- A factors it's invoices, B doesn't

The only paperwork that I have is purchase & sales invoices and bank statements. (NB It's all historical and there's no way of getting further information, the owners & managers have all changed and you know what factoring companies are like once the account has been shut)

1. A receives money from a customer

2. A transfers money to B

3. B pays money out to RBS Invoice Finance

I assume that the customer has accidently paid A rather than RBS and this is a roundabout way of getting the money back to RBS. BUT, there are no RBS drawdowns. At all. I have between 3 & 5 years of bank statements for multiple accounts across the 2 companies and not a single receipt from RBS. No sales invoices for those amounts either.

Pulling my few remaining hairs out here - anyone have a clue what is going on? 

Replies (5)

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ButteryCorn
By Grundy
02nd Aug 2018 15:20

What's the nature of the business and were all invoices factored or just a segment?

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By atleastisoundknowledgable...
02nd Aug 2018 15:31

A is perm recruitment, B temp.

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By atleastisoundknowledgable...
02nd Aug 2018 15:33

It's just been suggested by a member of staff that RBS was the silent factor being used by the back office company that B (temp recruiter) used to run it's sales & direct wages.

I do think that this is the answer (it at least makes sense), so just throwing it out there for general knowledge.

Thanks

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Replying to atleastisoundknowledgable...:
ButteryCorn
By Grundy
02nd Aug 2018 15:36

Temp agency with outsourced payroll was going to be my guess. Good luck

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By jacquinunn
08th Aug 2018 12:02

Why does it have to be anything to do with sales? Can't B just be paying a purchase invoice to a supplier who has factored their invoices with RBS?

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