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GAAP,
FASB compliant
software
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MCA - Merchant Cash Advances
Discount and other
Deferral Recognition
Software
GAAP, FASB ASC-310-20 Monthly, Annual Recognition
MCA
Originators: Discounts, other
Income and Expense for
daily, weekly pay deals
MCA Investors: Discounts,
Premiums and Expense for
daily, weekly pay deals
Import a Deals file to software
on your PC, network
sharing or cloud based
system
Amortize Discounts,
other income and expense
using IRR effective
interest method:
Monthly discount Income, other income and expenses such as
broker fees, bank fees
....
Accumulated recognition
Deferral balances for discounts, other income and
expense including NPV
(net present value)
Year To Date
income, expense.
Produce a lifetime ASC-310-20 deferral
recognition schedule for each
Deal.
From the original Deal date or a Conversion date
(preserve previously
recognized income)
Generate a complete set
of monthly accounting reports
for your general ledger.
Scroll down for
Highlights
Price page and free demo
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Hard to find
(including custom)
GAAP
Amortization
Software to run on a
PC,
Network sharing or
Cloud based system
supporting Windows
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Conversion file:
• A Conversion file preserves recognized discount
income (and other income and
expense) prior to the conversion
date.
• Convert as of last month,
end of prior fiscal year, some
other month.
No conversion balances?
• The software can calculate income and expense
recognition from original Deal
date,
About ASC-310-20:
•
When monthly payment activity
deviates from what had been
anticipated,
• The software calculates a new ASC-310-20
recognition schedule using a new
effective interest rate.
• Adjustments to income due to a new effective
interest rate are recognized in
a subsequent month.
• You DO NOT change income which has already been booked.
Configure the software to meet
your requirements ....
Import a Deals File to
the software each month.
Create an extract file from your servicing system in
Excel.
Supports Daily and Weekly payments.
Deals can be short term or span multiple years.
Values are reduced by any investor syndicated %.
Import a Payments File
at the same time.
Create an extract file from your servicing system in
Excel.
The software "matches" Payments to Deals.
Payments are reduced by any investor syndicated %.
Payments can be current month only or life-to-date and
are valid for any date including weekends and holidays.
Calculate IRR Internal
Rate of Return.
Calculate NPV Net
Present Value.
Calculate monthly
Discount Income
recognition.
Calculate other income and expense, too, such as
Bank Fees, Attorney Charges ....
Generate totals for:
Original Discount
Current month income + year to date income
Accumulated income
Discount balance
Current Face Value based on Payments File
Carrying Balance (NPV)
Verify results.
Create ASC-310-20 recognition schedule
for any deal.
Recalculate IRR and NPV
due to irregular Face
Value reductions.
Bounces, skips, partial payments, early payoff ....
Calculate prior monthly
income Adjustments under
ASC-310-20.
The software tracks monthly activity in a History file.
Adjustments are
booked in a subsequent
month.
You do not have to
restate prior month
income.
Produce:
General ledger subsidiary listing
Journal voucher posting document
General ledger upload posting file
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Import a Deals File to
the software each month.
Create an extract file from your servicing system in
Excel.
Supports Daily and Weekly payments.
Deals can be short term or span multiple years.
Values are reduced by any investor syndicated %.
Payments are an average
of:
Prior month Face Value minus Current month Face Value
with allowances for weekends and holidays.
The software maintains a History of monthly activity
and
retains prior month payments and Face Values in
order to meet ASC-310-20 "look back" requirements.
Calculate IRR Internal
Rate of Return.
Calculate NPV Net
Present Value.
Calculate monthly
Discount Income
recognition.
Calculate other income and expense, too, such as
Bank Fees, Attorney Charges ....
Generate totals for:
Original Discount
Current month income + year to date income
Accumulated income
Discount balance
Current Face Value from the Deals File
Carrying Balance (NPV)
Verify results.
Create ASC-310-20 recognition schedule
for any deal.
Recalculate IRR and NPV
due to irregular Face
Value reductions.
Bounces, skips, partial payments, early payoff ....
Calculate prior monthly
income Adjustments under
ASC-310-20.
The software tracks
monthly activity in a
History file.
Adjustments are
booked in a subsequent
month.
You do not have to
restate prior month
income.
Produce:
General ledger subsidiary listing
Journal voucher posting document
General ledger upload posting file
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Operates similarly to
Configurations 1 or 2.
Designed for MCAs
operating on a cash
basis throughout the
year requiring IRR and
NPV calculations at the
end of the year.
Import a Deals File to
the software.
Create an extract file from your servicing system in
Excel.
Supports Daily and Weekly payments.
Deals can be short term or span multiple years.
Values are reduced by any investor syndicated %.
Without a Payments File,
Payments are an average
of:
Original Face Value minus Current month Face Value
with allowances for weekends and holidays.
Verify results.
Create Deferral recognition schedule
for any deal.
Instead of monthly
recognition, output
provides
Current Discount and
other Deferral Balances.
Compare software IRR
generated Deferral
Balances to Cash Basis
general ledger balances.
Use adjusted numbers for
whatever purpose.
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GAAP,
FASB recognition software for Merchant Cash
Advances with daily, weekly payments
Amortize
dozens, hundreds,
thousands of MCA deals at the same time
IRR
Effective interest rate calculation for each
record.
Lifetime amortization schedule
for each fee, for each record.
% reductions for
joint venture, syndicated participations.
Freeze Schedule when a deal goes
bad.
Clear up audit exceptions with a minimum
amount of effort.
Determine what
Discount, other
Income
and Expense Balances should
be
when
using the
effective
interest method
for daily,
weekly
payments
End of month
End of year
Designed to eliminate footnote
exceptions on Financial
Statements
Calculate all MCA records at the
same time:
GAAP, FASB effective interest rates (IRR)
NPV Net Present Value (Carrying Balance, Book Value)
Discount on Proceeds Balance (Deferred Income Balance)
plus other deferred income, expense
Audit schedules
for each record:
Day-by-Day
recognition
schedule which opens in Excel
Monthly totals
Supportive documentation
IRR, NPV independent
verification in seconds
Show results to your auditor
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Easy to operate
Automatically import a Deals file to the
software
Import basic information for each Deal
consisting of:
Deal number/Description
First pay date
Final pay/maturity date
Original Face Value
Discount (or other fee to be amortized as income,
expense)
% Owned if syndicated
Current Face Value
General ledger accounts if desired
Payment frequency: Daily, Weekly
Payment amount
Payments file
(if you do not have a Payments file the
software will calculate payments as a
daily average of the difference between
monthly Face Values)
The software can also import a
Payments file at the same time
consisting of:
Deal number
Payment date
Payment amount
The software matches Deals with Payments
to generate reports and individual
recognition schedules based on an
average daily payment.
The software also does a projection of
anticipated Payments from the import
month through the Final Payment Date of each
record using:
The contracted Payment
amount which may or may not satisfy
Current Face Value as of Final Payment
Date or
A calculated Payment
amount which will satisfy Current Face
Value as of Final Payment Date or, at
your option or,
Extend the Final Payment
Date to so as to satisfy Face Value
based on payments.
Future daily payments exclude the following
dates:
Saturday
Sunday
And the observed day for
New Year's
Martin Luther King birthday
Memorial day
July 4th
Labor day
Veteran's day
Thanksgiving
December 25th
Exception: If a Final Payment date falls on any
of the above, the Final Payment will become a Payment.
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A Parameters (.txt) File
lets you determine your
configuration
FTTFFTTT
The above row carries
the T or F value for the
following:
T/F
T/F
T/F
T/F
T/F
T/F
T/F
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True
= Import
Payments File.
False = NO
Payments file.
Payments from
First Due Date
to import month
will be
calculated as
((Original Face
Value - Current
Face Value) /
Payment Days)
True = Use First
Payment Due Date.
False = First
Due Date is a
Deal date. If
False, Weekly
Pay first date
will be Deal
date + 7 days.
Deal Date is statistical only and, if blank, will be
set to First Due
Date.
True = Calculate
second period
payments (import
month through
Final Payment
Due date) based
on imported
current face
value.
False = Use
imported Payment
amount.
True = For
Investors, do
not take
syndicated %Owned
when importing
Expense.
False = For MCA,
apply %Owned to
all values
during import
process.
True = For
Investors,
switch
syndicated
percentage from
MCA reported,
such as switch
MCA 80%
owned to
Investor 20%.
False = For MCA,
leave %Owned as is.
True = Create monthly Histories for Posting adjustments. False = no
posting
adjustments.
If "Import Payments File" = True, this value is
automatically
set to True
True = Recalculate
the
imported Final
Payment Due date to
be (Current Face
Value/Payment)
adjusted for
Payment Days
(none due on
weekends,
holidays)
False = use imported Final Payment
Due Date.
If this is True, "Calculate second period
payments" will be
set to False.
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Price
Click to open and view
Price page
For more information,
please call
1-800-245-8444
(Florida, Eastern Time)
or
email
Support@fdssi.com
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