This guide covers the supported finance companies in Netvisor and how to set up Factoring account settings, add customers to Factoring invoicing, send Factoring invoices, and manage situations where a finance company other than those supported by Netvisor is used. Additionally, the guide includes instructions for recording Factoring payments, removing invoices from factoring, and removing the factoring service.


Finance companies supported in Netvisor are:

  • Guida
  • Nordea Rahoitus
  • Op yrityspankki oyj / Pohjola Pankki Oyj
  • Danske Bank
  • Svea (ended 31.3.2023)
  • Riverty (formerly Arvato, formerly Gothia)  (ended 31.3.2023)
    - We discontinued support for Factoring invoicing for Riverty and Svea on 31.3.2023 due to low usage of these finance companies. After the support ended, we automatically updated the Netvisor Factoring invoicing settings to select "Other finance company" instead of Riverty and Svea. More information on unsupported finance companies can be found in the section "Using a finance company other than those supported by Netvisor" in this guide.

Electronic Factoring notifications can be sent to supported finance companies from Netvisor. If your company's finance company is not among those supported in Netvisor, the settings should be made according to the instructions at the end of this guide under "Using a finance company other than those supported by Netvisor".

Factoring account settings

Factoring account settings are defined in the Invoicing settings:
Sales > Settings > Invoicing settings > Factoring accounts > New

Name: Enter the name of the finance company here
Finance company: Select the finance company with which the company has made a financing agreement from the dropdown menu
Account number: Enter the bank account in IBAN format to which the company's customers pay the financed invoices. The bank account must be a Finnish bank account. The account number is specified in the agreement made with the finance company.
Contract number: Enter the contract number of the financing agreement here. The maximum number of characters is 12. The OP factoring contract number is 8 characters long. If you want the Osuuspankki factoring reference number to be 20 characters instead of 18, add 00 in front of the contract identifier, making the contract number 00+8 characters long. 
Transfer description: Enter the transfer description received from the finance company in the form it was given
Accounting account: Select the accounting account from the dropdown menu to which incoming payments should be recorded. Usually, account 1717 is used here. 

Setting language translations for transfer descriptions

There are two options for setting transfer descriptions in different languages:

1) If you want to use a different language on the factoring account, in this case English, this different language factoring account should be saved as its own account. In this case, the transfer description field is saved in English, for example. This method is particularly suitable if the same customers are invoiced in multiple languages.

2) If the customer's invoicing language is other than Finnish, the transfer description in that language can also be saved on the customer card under the "Edit additional information" tab in the "Default text before invoice lines" or "Default text after invoice lines" section, so that the transfer description is formed on the invoice according to the customer's invoicing language. In this case, not all language versions need to be saved in the Factoring account settings, and not all language versions will always appear on all invoices. This is particularly suitable if the customer is always invoiced in English.

Adding customers to Factoring invoicing and creating invoices

If there are many customers to add, the addition can be done in bulk as follows:

Sales > Settings > Invoicing settings > Factoring accounts click the number in the "Selected customers" column in this view.

This takes you to the customer listing, where you can search for the desired customers to be Factoring customers.

Technically, a foreign customer can also be linked to Factoring invoicing. However, it should be checked with your finance company whether they finance foreign customers. The same situation applies to individual customers. There is no restriction on using these with Factoring on the Netvisor side, but it should be confirmed with the finance company whether private individuals can be included in the service. 

Once a customer is linked to Factoring invoicing, the invoices for that customer will subsequently be created as Factoring invoices by default. When creating a Factoring invoice, attention should be paid to the length of the invoice number. The invoice number must be 1-8 characters long, otherwise the system will give an error message when saving the invoice:

Once the invoice is saved, it can be seen on the invoice that it is a Factoring invoice:



Note: If the invoice has already been created (either from an order or manually) before the invoice's customer is added as a factoring customer, the factoring notification will not be formed on the invoice, and it will not go to factoring, but new invoices for the customer that have not yet been created will go to factoring.

Sending Factoring invoices

Factoring invoices are sent according to the normal sales invoice sending process. In the sending process, electronic Factoring notifications to the finance company are sent first. Once the Factoring notifications have been sent, the customer invoices are sent:

It is not possible to send the customer's invoice before the notification to the factoring company is sent. 


The material is sent via DanskeBank. Material formation runs are performed four (4) times a day, and materials are forwarded four (4) times a day. The last run starts around 20:00, so materials sent after that will not make it to the next night's run. Factoring notifications are sent from Danske Bank every night around 2:00. The same schedules apply to both e-invoices and factoring notifications.

Using a finance company other than those supported by Netvisor

If a finance company other than those supported by Netvisor is used, the settings should be made as follows:

Sales > Settings > Invoicing settings > Factoring accounts > New
Finance company: Select from the list "Other finance company"
Name: Enter the name of the finance company here
Note: Factoring notifications are not formed for invoices of other finance companies in the invoice sending process. The bank name shown on invoices is the Factoring account name given in the Factoring account settings.
Account number: Enter the bank account in IBAN format to which the company's customers pay the financed invoices. The account number is specified in the agreement made with the finance company.
Contract number: Enter the contract number of the financing agreement here. The maximum number of characters is 12.
Transfer description: Enter the transfer description received from the finance company in the form it was given
Accounting account: Select the accounting account from the dropdown menu to which incoming payments should be recorded. Usually, account 1717 is used here. 

Recording Factoring payments

If the account to which the finance company delivers the payments for financed receivables is company-specific, it is advisable to make a payment traffic agreement, which agrees on machine-readable reference payment materials. This way, payments arriving from customers are automatically reconciled also for financed invoices. Detailed instructions for handling this can be found here. The payment traffic agreement can be made with Nordea Rahoitus. It must be agreed that the account statement is needed in the program in KTO format and the reference material in KTL format, no other material format works. The factoring account must be established in the factoring accounts view.


If there is no company-specific account, payments must be manually reconciled to invoices. (If the company is not a supported factoring company, in section 2 of the guide, account 1718 is then the normal sales receivables account 1701.)
Instructions for manual handling of payments can be found here.

Removing a single invoice from factoring

If a customer's single invoice is to be sent directly to the customer and not to the factoring company, the Factoring account selection can be removed from the customer's customer card. The setting can be found on the customer card under the "Edit additional information" tab in the Factoring account section.


Disabling factoring

If the factoring service is discontinued, the marking that the customer belongs to factoring invoicing should be removed from the customer card for customers linked to the factoring account. The change must be made separately for each customer card, the setting can be found on the customer card under the "Edit additional information" tab in the Factoring account section. If the factoring account has not been used on any invoice, the account linked to factoring can also be removed from Sales > Invoicing settings > Factoring accounts > click the account name > Delete button. To successfully delete the account, the factoring account must first be removed from the customer cards. If the factoring account has been used on sales invoices, it cannot be completely removed. If necessary, factoring accounts that have been disabled can be renamed.


Keywords: Factoring, finance company, Factoring invoicing



This article has been translated using an AI-based translation tool. The contents or wording of these instructions may differ from those in other instructions or in the software.


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