Introduction to FactorSoft Class Agenda (2 Days)

Learn the day to day procedures of purchasing, posting payments, writing checks, and balancing, as well as how to add clients, debtors, and contacts. Perfect for your new employees.

Day 1

All day class - Lunch provided

Security

• Defining Security Roles

  Authorizations Tab

  Used By Tab

• Managing Users

  Details Tab

  Roles Tab

  Dates Tab

Tables

• Setting Up Tables

Client Terms

• Defining Client Terms
• Basic Fees and Rates

Support

• FactorSoft Support
• Using Online Help
• Incident Tracking System

System Preferences

• Setting Up System Preferences

Setting Up the Administrative User

• Logging In as an Administrative User
• Adding New Users & User Authority
• Viewing or Modifying Users & User Authority

Using ITS

• Submitting a New Support Request Incident
• Detail Page
• Incident List Page
• ITS on the Net

Day 2

Morning Session

Purchases, Checks, and Wires

• Purchase Entry
• Invoice Verification
• Invoice Approval
• Invoice Purchase
• Balancing

Writing Checks & Wires

• Write Check Screen
• View Journal, Check, and Wire Entries

Update Transaction Details

Invoice Modification

Payments

• Posting Full Payments
• Posting Partial Payments
• Posting Over Payments
• Leave Over-Payments on the Books
• Apply Unidentified Cash and Over-Payments to a Hold Account
• Posting Short Pays & Charge Backs
• Split Client Posting
• Split Debtor Posting
• Viewing Reworking Checks Already Posted
• Balancing
• Payment Update

Adjustments/Recourse

• The Adjustment Screen
• The Update Posted Adjustment Screen

Collections

• Debtor Aging
• Collection Notes
• Collection Queues

Reserve Disbursements

Client Summary Screen

Correspondence

Notice of Assignment

• Create a NOA Export File in FactorSoft
• Merge your NOA Export File into a Word Template

Verification Letters

• Insert FactorSoft’s field codes into your MS Word Letter
• Set up the form letter in FactorSoft’s Word Document Table
• Generate the Verification Letter

Lunch (provided)

Afternoon Session

The FactorSoft Environment

• Login
• Shortcuts
• User Preferences
• Terminology

Help, ITS, & the FactorSoft Community

• Using Online Help
• ITS and the FactorSoft Community

Client & Debtor Activities

• Client List
• Client Information
• Contact Information

Debtor List

• Add New Debtor
• Add New Debtor/Client Relationship
• Debtor Information

Broker List

• Add New Broker
• Broker Information
• Contact List

Notes & Reminders

NOTE: Each session will be given 15 minute breaks every hour