Invoice discounting
Hi,
We are using invoice discounting we sell the invoice to a company our client pays the company, the invoice looks the same except it has the invoice discounting companies bank details on it. The money we get paid does not match what goes into our bank account but our client has paid the full amount to the invoice discounting company. We are paid by the discounting company less fees etc. What is the best way to record this please from a book keeping point of view! Thanks very much!
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Sorry I meant to say that the money we get paid into the bank account from the Invoice Discounters does not match whats on the invoice.