Automated Factoring Adjustments for Quickbooks® Launched
Another Great Free Service from 21st Capital Corp. If you factor invoices after creating them in Quickbooks®, your Quickbooks® will be automatically out of balance, because you
sold the accounts receivable in exchange for cash and a potential future rebate, less some expenses. Quickbooks® must be adjusted to reflect
these factoring activities. Other factoring companies aren't concerned about this and leave up to their clients and accountants to adjust
Quickbooks® or not. 21st Capital Corp has developed exclusive technology with which you can adjust your Quickbook® automatically and
accurately over the internet from the 21st Capital Corp website, which should represent a substantial savings in accounting fees. You will find it
on your transfers page which you can access on the History > Transfers menu after logging in.
Create the Items you bill in Quickbooks® with an adequate description and export them from Quickbooks® to our web server's database.
To create electronic timesheets, your workers will login to our website & enter their hours on their own timesheet web page.
You will then login to our website and export the timesheet data (hours, etc.) from our server and import it into your Quickbooks® using our exclusive
Quickbooks® communications technology.
You will create your invoices in Quickbooks® using the timesheet data you have imported into Quickbook® from our server as the basis for your invoices.
You will upload the invoice data from Quickbooks® to our server for factoring.
If you use this technology, you will not only convert from paper to electronic timesheets without cost, but also, essentially, outsource the entire
invoice creation process to your workers, because the process is driven by the timesheet data which represents almost the entirety of the invoice
data. Moreover, all of your timesheet data will be stored in your Quickbooks® rather than on paper timesheets in storage boxes.
