The Big Difference All other factoring companies must receive your paper invoices prior to funding. But what if you are not in a position or location to create paper invoices? You might be working on a job site or in the field away from your office, traveling, on vacation, etc.? The answer: you probably won't be funded. Our powerful Factoring Extranet is a virtual office where you, your customers, and our staff work together in real time. The result? Faster funding.
Free 24/7 Online Invoice Creation Software
This revolutionary application is similar to and as simple as webmail such as, HotMail®, and is nearly as robust as accounting software. 10 Minute Flash Movie Demo Factor Directly from Quickbooks® This is the only Quickbooks® Factoring Integration application available. Other factoring companies would require you to mail them your printed Quickbooks® invoices. Our clients simply create their invoices offline in Quickbooks® and upload the invoice data to our server. This revolutionary factoring approach leverages Quickbooks® with the amazing power of our Factoring Extranet. It's the Best of Both Worlds. Caveat: You must not mail Quickbooks® invoices. We mail all invoices. |
Document Management Virtual Filing CabinetYour documents that support your legal right to invoice your customers must be stored in our Virtual Filing Cabinet. There are 2 ways to store them: Fax paper documents using our barcoded fax cover sheets, or Upload scanned paper documents or computer files, such as PDFs, Word documents, Excel spreadsheets, etc.
Our Unique ApproachThe staff of other factoring companys' collection departments spend all of their time making verification & collection phone calls to their clients' customers. Our verification process involves the use of automated emails to the customer contact decision maker which navigates him or her to a verification web page where he or she approves the invoices in question. Collections are similarly automated. Phone calls are rarely necessary.
Factoring Quickbooks® invoices will cause Quickbooks® to out of balance, until an adjustment is entered for the sale of the
receivable asset. However, our system automatically writes the adjusting entries to your Quickbooks®, if you choose to opt-in. Your
Quickbooks® will always be in balance, and you won't have to pay your accountant to make the entries.Coming Soon |
80% Advance Rate:We advance 80% of the value of each factored transaction, which is defined as a daily batch or group of factored invoices. Rebates: By advancing you 80% of the value of each factored transaction, we actually purchase your invoices at a 20% discount from face value. The discount is comprised of our factoring fee and your "Rebate," which is your share of the 20% discount based upon the Fee Plan and the collection period (see table, below). The sooner your customers pay, the higher your rebate and the lower our fee is. Fee Plans: Plan 1 is reserved for $50,000 transactions, or greater, with a minimum invoice value of $10,000, and highly creditworthy customers. All other transactions are classified as Plan 2.
Assuming a $10,000 transaction, Plan 2 & a 30 day collection period, your initial advance will be $8,000, our fee will be $400 and you will receive a rebate $1,600, or a total of $9,600, including the advance. Of course, the rebates & fees for your transactions may differ. |
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Document Management Virtual Filing Cabinet
Our Unique Approach
Factoring Quickbooks® invoices will cause Quickbooks® to out of balance, until an adjustment is entered for the sale of the
receivable asset. However, our system automatically writes the adjusting entries to your Quickbooks®, if you choose to opt-in. Your
Quickbooks® will always be in balance, and you won't have to pay your accountant to make the entries.
80% Advance Rate: