As a staffing firm, payroll funding is essential to keeping your doors open. Invoice factoring can be an instrumental tool in receiving the on-demand cash flow that you need to pay your staff as you grow. However, management of your factoring relationship can become problematic without an appropriate accounting process.
At Lescault and Walderman, we provide oversight and management solutions for factoring for staffing companies. Our team of experts draws on decades of experience to ensure that you make the most out of your factoring opportunities.
Before considering factoring as an option, you must assess how much funding is needed to operate your business. As the timing between paying your staff and receiving invoices from your clients may not align, diagnosing how much cash is needed can be difficult. You must assess all funding opportunities that are available to you and decide if invoice factoring is the most suitable option.
If you decide that factoring is the best solution for you, finding the right partner can be challenging. Remember, not all factoring companies are created for staffing companies. Our team can help you pinpoint which agency has the proper experience and credible history to provide you with solutions that are specific to staffing companies.
To maximize the effects of factoring, you must be able to quickly use your new cash to pay your staff, and ultimately report the data accurately on your books. We can integrate your new funding into your accounting software to seamlessly pay your staff and accurately report the transactions on your ledger.