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Example 1
Supplier ABC has sold their receivables to Factor B, and you want to send payments directly to Factor B. You want your payment document to be made out to "ABC Or Factor B." Define a pay site for supplier ABC called "Factor B." On the first address line enter "OR Factor B." On the remaining two address lines enter Factor B's address.
If you select the Factor B supplier site when you enter and pay an invoice for ABC, the first two lines of the payment will read "Payable to: ABC OR Factor B" and the factor can endorse and cash the payment.
Example 2
Supplier ABC has sold their receivables to Factor B, and you want to send payments directly to Factor B. You want your payment document to be made out to "ABC AND Factor B." Define a pay site for supplier ABC called "Factor B." On the first address line enter "AND Factor B." On the remaining two address lines enter Factor B's address.
If you select the Factor B supplier site when you enter and pay an invoice for ABC, the first two lines of the payment will read "Payable to: ABC AND Factor B." Both the supplier and the factor will have to endorse the payment before it can be cashed by the factor.
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