How do you keep the factoring company honest on reserves and chargebacks?
For those factoring, how closely do you track what comes back on the statement?
I have seen a fair number of complaints about reserve money held with no clear reason, chargebacks that show up without an explanation, and account closings where the escrow takes months to come back. What I cannot tell from the outside is whether people usually catch that stuff right away or find it late.
Do you reconcile the factoring statement against what you invoiced, or trust it and watch the balance? And when something is wrong, is getting it fixed usually simple or a fight?
u/Low-Watch7882 — 3 days ago