We just received notifcation that one of our vendors has sold their receivables to a factoring company. The payments are to be made payable to both the vendor AND the factor, and mailed to the factor’s address. How do I set this up in NAV? Do I use the “Pay-to Vendor Number” in the Invoicing tab of the Vendor card? And my apologies if I accidentally posted this twice.
Anita,
Yes Pay to vendor number is the functionality in Nav to use. Normally blank on the vendor card. If populated on a purchase invoice for example when the invoice is posted the vendor ledger created will be on the pay to vendor account only.
If you want to pay both (presume you mean some invoices will be paid to supplier, some to factoring) then just update the invoicing tab on the document pre posting.
Neil