HSBC Factoring

Your guide to the Internet Service for Factoring (eFactoring)

Your guide to the Internet Service for Factoring (eFactoring)

HSBC Factoring

What Can Be Expect From eFactoring

A completely new eFactoring internet channel bringing with it new features that
give the client more control of facilities held with HSBC.

It is an integral part of the Factoring, Post Dated Cheque Discounting and

Confidential Invoice Finance facilities provided to HSBC’s clients in the Middle
East.

The ability to create Available Funding and draw it on eFactoring when cashflow
needs arise provides new flexibility.

eFactoring gives clients access to information and control over their facility in
service timing which are:

0700-1800 Saturday-Thursday (UAE).

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HSBC Factoring

Key Features

fSecure login for each agreed user - ensuring transactions are traceable and only
undertaken by AUTHORISED people.

fReconciliation of available and drawn funding - assists in the accounting of the facility.

fView of current drawn funding and receivables sold to HSBC bank - giving greater control
over the facility.

fNominated HSBC bank account that CANNOT be changed by the eFactoring user – providing
in built security.

fAccess to full sales ledger information on the customers notified to HSBC - providing a clear
view of current and historical transactions.

fAbility of client to drawdown funding for AED into the nominated UAE HSBC bank
account - providing greater control and flexibility of cashflow requirements.

fDownloadable on line reports - removes the delay in requesting information or having to

wait to view it.

fView exiting customers and have the ability to request new ones - providing more control
over this key area

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Who Should Use This Guide

Directors, Business owners and authorised signatories - so they know what

controls are available to them and the individuals they nominate to use eFactoring.

Accountants, Chief Financial Officers and Finance Managers - as a way of training

in how to use the system and understanding how to get the most from eFactoring
and HSBC Factoring Services in general.

The ideal time to use this guide is just after you have received your user id from
us. If you still have not registered please contact the Factoring Helpdesk to get the
registration process started.

The Guide is designed to supplement the help you can get from the Factoring
Helpdesk and your specialist Factoring Relationship Manager. If you are newly
registered for the service the Helpdesk staff will make themselves available to talk
you through the guide so that your training can be even more effective.

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HSBC Factoring
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HSBC Factoring

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Your guide to the Internet Service for Factoring (eFactoring)

HSBC Factoring

The Menu
eFactoring is the main delivery channel for your Factoring Facility. It provides full access to your account and a host of information relating to your
account.

The menu to navigate around eFactoring is located on the left hand

The menu to navigate around eFactoring is located on the left hand
side of each page (after the log on page).
side of each page (after the log on page).

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 HSBC Factoring
The Menu Explained
Payments and Availability
(Including Availability Movements)
Message Centre
Customer Accounts List
Customer Details
Customer Limit List
Transaction History
Customer Limit Status
New Customer Request
EDI File Transfer
The Menu Explained
Allows you to view your ledger (in total) and view retentions. Clicking on the retention figure will give a
breakdown. Previous day’s figures are displayed as reconciliation between yesterday’s and today’s
availability.
Allows you to send and receive messages to us. Important to view each day, we recommend at least once in
the morning and once in the afternoon.
Lists all customer accounts and from the drop down list may be filtered to show outstanding balances,
balances in credit, overdue, disputed, queried, unprotected and in name order. Default is by balance ie.
biggest account first. Clicking on individual customer names can access a breakdown of invoices outstanding
in the customer account.
Allows you to go direct to a particular customer account by inputting the relevant account number.
A searchable list of all customers that displays current balance i.e. invoices outstanding, current limit and
unprotected balances. .
Provides details of transactions on the account such as customer payments, funding drawn, sales (invoices),
credit notes notified and charges.
Displays recent credit limit decisions and requests to be actioned. .
Allows you to request a new Agreed Customer and Customer Account. .
This function is currently not available and cannot be used at the moment.
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The Menu Explained

Allows reports to be downloaded in a universal CSV format. Reports include Client Statement, Weekly
Report Request List
Activity Report, Aged Debt Report, Open Items and Customer List.

Sales and Bad Debts Provides a summary of sales invoices notified, cash collected, debt turn target and actual bad debts
written off, split between protected and unprotected.

Help - Rules and Standards Provides Overview on Factoring supplementary agreement terms and conditions.

Select Another Account Used to navigate between ledgers should you have more than one.

Log Off Logs you out. It is important to do this as allowing the site to time you out can sometimes cause
problems with re-entering.

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Select An Account

If multiple accounts are ABC Trading Middle East LLC - USD A/c
If multiple accounts are ABC Trading Middle East LLC - EUR A/c
held, click on the account
held, click on the account
number of the facility you
number of the facility you
want to open, to view it.
want to open, to view it.

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The Welcome Screen

• eFactoring is HSBC's client facing

• eFactoring is HSBC's client facing
system for Factoring Services.
system for Factoring Services.
• The welcome screen provides a
• The welcome screen provides a
snapshot of today’s invoices and credit
snapshot of today’s invoices and credit
notes received, and current availability.
notes received, and current availability.
View the notice board for periodic
View the notice board for periodic
useful notes.
useful notes.
• If the current availability shown here is
• If the current availability shown here is
in red with the word “Overpaid”
in red with the word “Overpaid”
alongside then it signifies that your
alongside then it signifies that your Welcome to eFactoring
outstanding funding has exceeded the
outstanding funding has exceeded the Our internet system is here to provide access to information, give you control of your Factoring
availability. facility and provide flexibility. We recommend you access the site regularly. For assistance
availability. please contact your HSBC Helpdesk on 04-423-7290 or email : factoring.uae@hsbc.com

• The system is available from 0700 to

• The system is available from 0700 to
1800 hours basis Saturday to Thursday
1800 hours basis Saturday to Thursday
• Availability (funds available) is
• Availability (funds available) is
updated with previous working days
updated with previous working days
transactions on each working day.
transactions on each working day.

•This is applicable for PDC facilities only

•This is applicable for PDC facilities only

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Payments and Availability

Clicking on
Clicking on
Retentions will
Retentions will 123 456789
take you to a
take you to a
breakdown of the
breakdown of the
retentions, whilst
retentions, whilst
clicking on
clicking on
Availability
Availability
(previous day) will
(previous day) will
take you to a
take you to a
reconciliation
reconciliation
between the
between the
previous day’s
previous day’s
figure and today’s.
figure and today’s.

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Retention

Retentions screen
Retentions screen
shows the amount
shows the amount
retained as on given
retained as on given
day. It represents
day. It represents
invoices which are not
invoices which are not
considered eligible for
considered eligible for
creation of availability.
creation of availability.
Retention's can
Retention's can
include -
include -
• Concentration CAP
• Concentration CAP
exceeded.
exceeded.
• Overlimits.
• Overlimits.
• Overdues beyond
• Overdues beyond
extension period.
extension period.
• Verification is
• Verification is
outstanding
outstanding

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HSBC Factoring

Availability Movements

•This screen details the change

•This screen details the change
in availability from the previous
in availability from the previous
working day to the current
working day to the current
working day. It is accessed by
working day. It is accessed by
clicking on Availability on the
clicking on Availability on the
Payments and Availability
Payments and Availability
page.
page.
•This screen also features an
•This screen also features an
explanation of the various
explanation of the various
factors that affect availability.
factors that affect availability.
•A breakdown of the retentions
•A breakdown of the retentions
is available from a link within
is available from a link within
the availability screen.
the availability screen.

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HSBC Factoring

Payments and Availability

•From this screen you will also

•From this screen you will also
be able to view the items
be able to view the items
received on the day. These
received on the day. These
items will update over night
items will update over night
and will reflect the following
and will reflect the following
day
day

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Payments and Availability

•For UAE AED clients you can

•For UAE AED clients you can
elect same day payment or lodge a
elect same day payment or lodge a
request for next day drawdown -
request for next day drawdown -
subject to availability for funds.
subject to availability for funds.
•For other countries and currencies
•For other countries and currencies
please refer to the Factoring
please refer to the Factoring
helpdesk Tel +971 (0) 4 423-7290
helpdesk Tel +971 (0) 4 423-7290
or Email: factoring.uae@hsbc.com
or Email: factoring.uae@hsbc.com
•Payment method should always
•Payment method should always
be selected for ‘transfer’.
be selected for ‘transfer’.

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HSBC Factoring

Payment Confirmation

For UAE AED transfers, once you

For UAE AED transfers, once you
have requested your payment,
have requested your payment,
which can only be transferred
which can only be transferred
to your nominated bank
to your nominated bank
account, the system will request
account, the system will request
your confirmation to ensure the
your confirmation to ensure the
details are correct - if not you can
details are correct - if not you can
amend them at this point.
amend them at this point.

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Message Centre

• The message centre allows you to

• The message centre allows you to
exchange messages with us in a
exchange messages with us in a
secure environment.
secure environment.
Message types include:
Message types include:
- Credit limit decision
- Credit limit decision
- New Accounts opened and
- New Accounts opened and
additional information requests
additional information requests
- Queries and disputes
- Queries and disputes
- Notifications and resolutions
- Notifications and resolutions
- Messages from your credit
- Messages from your credit
controller
controller
• You can originate and respond to
• You can originate and respond to
messages.
messages.
• Only opened messages can be
• Only opened messages can be
deleted.
deleted. A/c opened 000070 XYX Trading LLC

• It is important messages are

• It is important messages are
reviewed and actioned promptly. We
reviewed and actioned promptly. We
recommend reviewing them at least
recommend reviewing them at least
twice a day (at minimum once in the
twice a day (at minimum once in the
morning and once in the afternoon).
morning and once in the afternoon).
• Sent messages will only appear on
• Sent messages will only appear on
the list until they are actioned, at
the list until they are actioned, at
which point they will be removed.
which point they will be removed.
• Please note - do not use for
• Please note - do not use for
urgent requests like transfer of
urgent requests like transfer of
availability.
availability.

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HSBC Factoring

Customer Accounts List

• Customer accounts are

• Customer accounts are
accessed either by entering the
accessed either by entering the
number in the Customer
number in the Customer
Details field or by using a link
Details field or by using a link
from the Customer Accounts
from the Customer Accounts
List.
List.
• The Customer Accounts List
• The Customer Accounts List
may be filtered down to show:
may be filtered down to show:
- Outstanding balance
- Outstanding balance
- In credit
- In credit
- Overdue
- Overdue
- Disputed
- Disputed
- Queried
- Queried
- Ineligible
- Ineligible
- In Name order
- In Name order
• A search is available using the
• A search is available using the
In name order option.
In name order option.
•Classification shows customer
•Classification shows customer
accounts which are under
accounts which are under
litigation.
litigation.
NB: The individual customer
NB: The individual customer
account screen may be
account screen may be
accessed by clicking on the
accessed by clicking on the
customer name (see over).
customer name (see over).

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HSBC Factoring

Customer Details
•This screen is accessed by
•This screen is accessed by
clicking on an individual customer
clicking on an individual customer
account.
account.
• It provides invoice level
• It provides invoice level
breakdown of the individual
breakdown of the individual
customer debt.
customer debt.
• Trading history with the customer
• Trading history with the customer
can be accessed from here.
can be accessed from here.
• Filters are available to show:
• Filters are available to show:
- Open Items
- Open Items
- Open & Closed items (displays
- Open & Closed items (displays
the allocation of recent payments) EEE Trading
the allocation of recent payments)
- Disputed items
- Disputed items
• Closed items appear in this list
• Closed items appear in this list
for 2 months after the item has
for 2 months after the item has
been cleared.
been cleared.
• All items can be accessed to
• All items can be accessed to
enable the whole account to be
enable the whole account to be
printed off quickly.
printed off quickly.
• Disputed or Queried items if
• Disputed or Queried items if
present, are marked with a D or Q
present, are marked with a D or Q
and clicking on them gives access
and clicking on them gives access
to the details.
to the details.
• A message centre note is always
• A message centre note is always
sent regarding a dispute or query
sent regarding a dispute or query
please review these regularly and
please review these regularly and
respond promptly with your
respond promptly with your
findings.
findings.

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Trading History

EEE Trading

This displays
This
the displays
trading
the trading
history and
history
gives and
details
ofgives details
invoices
of invoices
and credit
and credit
notes, and
notes,
the date and
when
theaccount
the date when
thefirst
was account
was first
opened.
opened.

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Customer Limit List

•A searchable,
•A searchable,
alphabetical list of all
alphabetical list of all
customers which
customers which
displays current
displays current
balance versus current
balance versus current
limit.
limit.
•A useful screen to
•A useful screen to
view the ineligible
view the ineligible
invoices which have
invoices which have
affected the
affected the
availability.
availability.

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HSBC Factoring

Transaction History
•The Transaction History
•The Transaction History
provides details of:
provides details of:
- Sales Invoice Notifications
- Sales Invoice Notifications
- Credit Invoice Notifications
- Credit Invoice Notifications
- Customer Remittances
- Customer Remittances
Received
Received
- Returned Cheques
- Returned Cheques
- Charges
- Charges
- Funding Drawn
- Funding Drawn
• Filters are available for each
• Filters are available for each
of these options.
of these options.
• Data can filtered into individual
• Data can filtered into individual
months.
months.
• Discounting Charges are
• Discounting Charges are
applied at the end of the month,
applied at the end of the month,
and thus cannot be viewed until
and thus cannot be viewed until
then.
then.
• Closed items appear on this
• Closed items appear on this
list for two months after the
list for two months after the
items have been cleared.
items have been cleared.
• We recommend using the
• We recommend using the
Account Activity Report
Account Activity Report
(available on the Report
(available on the Report
Request List page) to update
Request List page) to update
your own sales ledger.
your own sales ledger.
• Use the Client Statement
• Use the Client Statement
report for your Receivable
report for your Receivable
Finance accounting.
Finance accounting.

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Customer Limit Status

• Limit requests are

• Limit requests are
approved by our credit
approved by our credit
approver in which case it will
approver in which case it will
appear in decisions given.
appear in decisions given.
Requests awaiting decisions
Requests awaiting decisions
will remain in the pending
will remain in the pending
section.
section.
• Where a limit is fixed it is
• Where a limit is fixed it is
not possible to access the
not possible to access the
Request a Credit Limit
Request a Credit Limit
screen.
screen.
• All limit changes are
• All limit changes are
notified via a secure
notified via a secure
message in the message
message in the message
centre. These should be
centre. These should be
viewed regularly.
viewed regularly.

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HSBC Factoring

Report Request List

• Reports are downloaded in a

• Reports are downloaded in a
universal CSV format which
universal CSV format which
opens in excel, or similar
opens in excel, or similar
spreadsheet programs.
spreadsheet programs.
• Requesting reports is a two
• Requesting reports is a two
stage process.
stage process.
- The options are selected and
- The options are selected and
on hitting the send button, the
on hitting the send button, the
request is actioned
request is actioned
•Standard reports available are:
•Standard reports available are:
- Aged Debt report (aged
- Aged Debt report (aged
analysis)
analysis)
- Customer List (list with
- Customer List (list with
addresses and credit limits)
addresses and credit limits)
- Client Statement
- Client Statement
- Account Activity Report
- Account Activity Report
(provides allocation details of
(provides allocation details of
customer payments.
customer payments.
- Open Item Ledger (report by
- Open Item Ledger (report by
customer showing outstanding
customer showing outstanding
balance by invoice)
balance by invoice)
• Sample format of reports are
• Sample format of reports are
provided here.
provided here.

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•Refresh the Report Request
•Refresh the Report Request
Report Request List List panel, or come back to it
List panel, or come back to it
afresh later, and the download
afresh later, and the download
button will be displayed when
button will be displayed when
the report is available.
the report is available.

•The report can then be

•The report can then be
downloaded and opened.
downloaded and opened.
•For more information see the
•For more information see the
FAQs at the end of this
FAQs at the end of this
document.
document.

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HSBC Factoring

Report Request

•Reports are viewable in Excel

•Reports are viewable in Excel
spreadsheet format.
spreadsheet format.

ABC TRADING LLC

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HSBC Factoring

Sales and Bad Debts

• Provides a summary
• Provides a summary
of sales invoices
of sales invoices
notified, cheques
notified, cheques
discounted and
discounted and
cash collected.
cash collected.
• Debt turn target and
• Debt turn target and
actual.
actual.
• Also bad debts
• Also bad debts
written off with a split
written off with a split
between protected and
between protected and
unprotected.
unprotected.

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Help Desk

• Should you need

• Should you need
further assistance -
further assistance -
rest assured we will be
rest assured we will be
on hand to help .
on hand to help .

Your guide to the Internet Service for Factoring (eFactoring)


How do I request a credit limit
increase?
How can I see which customers have
paid?
How can I confirm if you have
received my invoices and credit
notes?
I have a query over the funds
available
Frequently Asked Questions (FAQs)
In Customer Accounts List click on the existing limit for the particular customer, or in the particular
customer account click on the limit. This brings up the Request a Credit Limit screen. If the limit is fixed at
the current level it will not allow access to the increase limit screen.
In Transaction History filter by Customer Remittances Received this brings up remittances received in
the month so far. You can also filter for previous months (up to 12 months).
In Customer Details (for a particular customer) select Open and Closed Items, this will show recent
payments and allocation details.
Allocation details are also supplied in the Weekly Account Activity Report, which is prepared and sent as
a hard copy on a weekly basis. The report can also be downloaded via our Report Request List page.
• For manual or post select Transaction History from the menu and then Sales and Credit Notes. This
shows invoices and credit notes received.
• For help with preparing a manual or post batch refer to Help - Rules and Standards - Invoicing Your
Clients.
Review the Retentions figure by clicking on the Payments and Availability screen and also the
Availability Movements screen by clicking on Availability.
• Invoices subject to verification with your customer are shown as suspended within Retentions.
• Once verified the funds will be made available the following working day.
• Review your Message Centre to see if any invoices are queried or disputed by your customers. When
invoices are queried we send a message centre note and allow 48 hours for you to resolve before the
funding is withdrawn. After 48 hours the funding is withdrawn. At this point a further message centre
note is sent, please respond to these messages promptly with your findings.
• Service charge (%) is also posted the day the invoices are processed.
Your guide to the Internet Service for Factoring (eFactoring)
 Frequently Asked Questions (FAQs)

How do I get details of queried or For a list of all queried and disputed accounts go to Customer Accounts List and filter by Disputed or
disputed customers? Queried.
Clicking on the Q or D on the relevant invoice can access details of queries and disputes. The message
centre will advise you with details if they occur.

How do I know if any customers are Use Customer Limit List or when in Customer Accounts List filter using Unprotected.
over their credit limits?

How do I download reports to my See the Report Request List section of this guide for how to access the Download Report button. From
PC? here click on it and choose Save to download to your PC. The report can then be opened in Excel or a
similar spreadsheet program. If this option is not available to you please contact Helpdesk Services on
+971 (0) 4 423 7290 so we can reconfigure your download settings.

My reports don’t format correctly. This is because you’re viewing them in your internet browser. Instead download the report to your PC and
view using a spreadsheet program.

My Customer Aged Balance report You need to tick the box to select the option to include credit limit details when you are downloading the
does not show Limit Details report.

Is it acceptable for more than one No, each person (user) should have his or her own unique login ID. Should you need to arrange a new user
person (user) to use the same login please contact our Helpdesk (see below).
ID?

How can I request or modify user Forms are available by calling Helpdesk services on +971 (0) 4 423 - 7290. They can be emailed or posted
access to IIF? out to you. Once filled in you must post them back and your new number will then be issued.
For changes to user access a primary user or company director must email us on factoring.uae@hsbc.com
stating the changes you require. We will then email confirmation of the change once it’s been actioned.

How can I get extra reports? Go to Report Request List a variety of reports are available to download. Further information can be seen
in the related section of this guide.

Your guide to the Internet Service for Factoring (eFactoring)

 Frequently Asked Questions (FAQs)

How do I go to a particular Customer If you know the particular customer number enter it into the Customer Details field on the left-hand menu. If
Account? not use the Customer Accounts List where you can filter in different categories. Once identified click on
the customer name.

How do I know allocation details of The Account Activity Report provides a breakdown (per invoice) of customer payments. We recommend
customer payments? using this for reconciliation purposes. A hard copy is sent weekly.

THANK YOU

Your guide to the Internet Service for Factoring (eFactoring)