Updated 2026-05-19

Schedule of accounts

A list of invoices submitted to the factor in a funding request.

Why it matters

The schedule triggers the funding request. Errors or missing information on the schedule can delay processing of the entire batch, not just individual invoices. Each line on the schedule typically includes the invoice number, customer name, invoice date, due date, and invoice amount. The factor reviews the schedule against internal credit limits and verifies each line before approving the advance. If one invoice on the schedule is ineligible, the factor may fund the eligible portion and return the rest, extending the overall settlement timeline.

How it appears in contracts

Factoring agreements specify the frequency and format for schedule submissions. Some require daily or weekly schedules; others allow on-demand submissions. The schedule is treated as the seller representation that each invoice is valid, undisputed, and meets all eligibility criteria. Submitting ineligible invoices on the schedule without disclosure can trigger the fraud and misrepresentation provisions of the agreement, which typically give the factor the right to terminate and demand immediate repayment of all advances.

Related terms

• Chargeback
• Notice of assignment
• UCC-1
• Lockbox