Glossary · Factoring
Schedule of accounts
Also called: Schedule, Invoice schedule, Schedule of receivables
Definition
A schedule of accounts is the list a carrier submits to sell a batch of invoices to its factor, naming each debtor, amount and load, with supporting documents attached.
Each schedule usually lists the invoice number, debtor name and MC number, load or PRO number, ship date and amount, with the rate confirmation, bill of lading and proof of delivery attached. The client signs it, and under most factoring agreements that signature assigns the listed invoices to the factor.
The schedule is your purchase record. If a debtor disputes a load or another factor claims the same invoice, the schedule and its documents are what you rely on. Errors you accept at intake become your problem at collection.
- Each debtor is credit-approved and has your NOA on file.
- The carrier name and MC on the rate con and BOL match your client.
- Dates, weights, piece counts and amounts agree across documents.
- No load number, BOL number or invoice repeats one from an earlier schedule.
- The POD is signed and shows no exceptions that would cause a short pay.