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How do I mark invoices paid in Factor?

Payment status can be manually updated from the View Invoices page, unless the invoice is linked to QuickBooks Online or setup to be paid via FactorPay.

The method of updating payment amounts on invoices in Factor depends on whether your firm is using QuickBooks Online integration or FactorPay.

 

How Payments Are Updated:

Invoices Linked to QuickBooks Online:

If your firm is using Factor integrated with QuickBooks Online, and the invoice is linked to a receivable in QuickBooks, payment amounts cannot be manually updated in Factor.

Payments received in QuickBooks Online will automatically update the paid amount in Factor.

 

Invoices Paid via FactorPay:

If you are using FactorPay, any payments received will automatically update the paid amount of the invoice in Factor. If the invoice is also linked to QuickBooks Online, the payment will sync with the receivable in QuickBooks as well.

 

Invoices Not Linked to QuickBooks or FactorPay:

If the invoice is not linked to QuickBooks Online and not set up for FactorPay, you can manually update the payment:

  1. Go to the View Invoices page.
  2. Under BILLING, locate the invoice.
  3. Click on the linked amount in the Paid column.
  4. Enter the amount paid and specify the date of payment.
  5. Once the invoice no longer has a balance due, it will be marked as fully paid.

 

Summary:

  • QuickBooks Online integration: Payments update automatically, no manual changes allowed.
  • FactorPay: Payments update automatically in Factor and QuickBooks (if applicable).
  • Without QuickBooks Online or FactorPay: Payments are updated manually in Factor.

 

For further assistance, contact support at Help@FactorApp.com or use the in-app chat to reach us.