Factor houses

Factor houses are third party companies employed by suppliers to collect payments from customers.

In Sage 200 Accounts, factor house details are entered separately to supplier account records. If your suppliers use factor houses to collect payments, then you need to create factor house records and assign them to supplier accounts to ensure payments are directed to the appropriate organisation.

In the same way you manage your account records, you need to manage the factor house records.

Open: Purchase Ledger > Utilities > Ledger Set Up > Factor Houses.

1. Click Add.

   Enter the Factor house details new details.

2. Click Link Suppliers.

   The Suppliers Linked To window appears.

3. To link a supplier to this factor house, click Link.

   The Select Supplier to Link window appears.

4. Select the supplier you want to link to the factor house.

5. Click OK to complete the link. The supplier is added to the previous window.

   If the supplier is linked to another factor house you are prompted to confirm that you want to retain the link or revise it and link it to the factor house you have selected.

   Note: The linked factor house is the account payee printed on all payments and cheques for a supplier. The supplier's name is also referenced on these documents.

Open: Purchase Ledger > Utilities > Ledger Set Up > Factor Houses.

1. Select the factor house from the list and click Edit.
2. Amend the details as required.
3. To change the suppliers linked to this factor house, click Link Suppliers.
4. To link a new supplier, click Link. The Select Supplier to Link window appears.
   • Select the supplier from the drop-down list.
   • Click OK to link the supplier to this factor house.
5. To remove link to a supplier, click Unlink.

Open: Purchase Ledger > Utilities > Ledger Set Up > Factor Houses.

1. Select the factor house from the list and click Delete.
2. Confirm that you want to delete the factor house and remove the links to any suppliers.