Definition
The list of invoices a client submits to a factor for funding.
Why it matters
Each schedule is verified before funding.
Where it shows up in a deal
The schedule is the submission document: a listing of the invoices in a batch, with the assignment language and a signature from an officer of your company. It is how each invoice is actually assigned to the funder, and the representations printed above the signature line are the ones you are making every time you fund.
What it affects
- Signing warrants that each invoice is valid, delivered, undisputed and free of other liens.
- A false representation is a breach of the agreement, not a clerical correction.
- Batching invoices onto one schedule affects when fees start accruing on each of them.
- The schedule is the document reconciled against the aging when discrepancies are investigated.
The common mistake
Related terms
- InvoiceA bill requesting payment for goods or services delivered.
- VerificationThe process of confirming an invoice with the customer before funding.
- Factoring AgreementThe contract that sets advance rates, fees, recourse terms and duration.
- Proof of DeliveryDocumentation proving goods or services were delivered.
Questions about how schedule of accounts affects your facility?
Call (929) 658-8087 or request a written quote — no obligation, no credit impact.
