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Financing agreements

  • Updated

On Financing agreements view, user can manage the external financing agreements. The view can be accessed by choosing Management > Company info > Financing agreements.

 

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General info

  • The Financing agreement section is activated in Management > Company info > Usage settings > External financing settings. After activating the external financing agreements, the Financing agreements option appears to the control menu.
  • Before entering external financing agreements on the Financing agreements view, it should be confirmed that the company has an external financing agreement with a financing company.
  • Each agreement must be entered to its own row.

 

The buttons of the view

Save

  • Clicking on the Save button saves the changes that are made.

Add

  • Clicking on the Add button will create a new, empty financing agreement row.

Deactivate

  • Clicking on the Deactivate button deactivates the selected financing agreement and it cannot be used.

 

Row information

  • The financing company is selected from the drop-down menu to each fianancing company. Also, the bank account number of the financing company, agreement number and the bank reference code separator must be entered to the rows.
  • If the financing company is a bank and there is an agreement about sending data in a Finvoice form, the Finvoice addresses of the company and financing company must be entered.
  • At present, the invoice data can be sent as a Finvoice from Procountor to banks’ financing companies, such as Nordea, OP and Danske Bank.
  • The transfer notification is entered in the Transfer notification field. The transfer notification will be printed onto the invoice, in order to let the recipient, know that the receivable has been transferred to a financing company. When creating invoices that fall within the scope of a financing agreement in Swedish or English, the transfer notification must also be entered in the fields reserved for these languages.

 

The references of the invoices

  • A bank reference code is generated for the invoice from the agreement number, bank reference code separator and invoice number.
  • If the financing company is OP:
    • The reference code will be the financing agreement number, separator (001 / 002 / 301), invoice number with zeros added to the beginning to bring the number to nine digits, and a check digit at the end.
    • The whole agreement number (agreement number + bank reference code separator) are entered to the agreement number column on the Financing agreement view.
    • The Bank reference code separator column should be left empty.
    • The company’s bank account should be selected to the OP factoring column. The payments and references are allocated to that particular account. NOTE! OP has two forms of factoring reference number: "short" and "long". OP must apply the "short" reference number format from these options so that importing FL reference data (factoring reference data) will be successful from OP to Procountor.
  • If the financing company is Nordea:
    • The reference code will be the financing agreement number, separator (0), invoice number with zeros added to the beginning to bring the number to eight digits, and a check digit at the end.
  • If the financing company is some other company:
    • The reference code will be the financing agreement number, separator, invoice number with zeros added to the beginning to bring the number to seven digits, and a check digit at the end.
    • If you cannot find your financing company in the drop-down menu or wish to make sure that Procountor and your financing company are compatible, please contact Procountor’s customer service via contact form.
    • Further information about external financing in Procountor can be found here.

 

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