Factoring Companies Can Now Check Payment Status Through Freight•LOGIK

Factoring Companies Can Now Check Payment Status Through Freight•LOGIK

 

Sunset’s Business Operations and Financial Services teams have just released new functionality for factoring companies and carriers to check payment status for their loads via our Freight•LOGIK web portal. Directing carriers and factoring companies to Freight•​​LOGIK to check on payment status benefits all parties! For a quick “how-to” get started with the Freight•LOGIK registration process, click HERE.

 

Factoring Companies

Once a Factoring Company has been directed to Freight•LOGIK to check payment status for a carrier whom they factor for, they’ll be able to view information on a load-by-load basis for payments that have been received and payments that are due:

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In the payments received, they’ll be able to see information regarding check number, check date, the net amount paid and other pertinent items. Conversely on the payments due, they’ll be able to see things regarding missing paperwork, net amount to be paid and an estimated date of when the check can be cut. All of this comes in a nice, easy to read view: factoring2.jpg

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Carriers

On top of all the pre-existing functionality in the carrier section of Freight•LOGIK, carriers and factoring companies may now check payment status via the Settlement History tab. This allows them to see an estimated pay date, called “OK 2 Pay Date” for any loads they may be inquiring on for payment status:

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Sunset is working hard to create efficiencies to work smarter, not harder, with carriers and factoring companies regarding payment status.  If you have any questions or concerns, please reach out to McLeodSupport@SunsetTrans.com!​