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GAAP,
FASB compliant
software
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GAAP,
FASB
Merchant Cash Advances
Effective
Interest Method
software for Daily,
Weekly
Payments
Automatically
import your data to
software on your PC,
network sharing or Cloud
based system running
Windows
Generate GAAP, FASB Discount
Income and Balances for any month,
fiscal year end
Available in 2 versions:
Version 1 -
Deals and Historical Payments:
Import a Deals file
containing basic
information about each.
Import a Payments file
containing actual
payments and dates
received.
The software matches
Payments with Deals and
generates reports
through a given
month/year.
In order to calculate an
IRR effective interest
rate, it also does a
projection through Final
Payment date with
payments consisting of:
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
Version 2 -
Deals only:
Can't produce a Payments
file?
Import a Deals
file containing basic
information about each.
The software
imputes historical
Payment dates and amounts
for each Deal, then
generates reports
through a given
month/year.
In order to
calculate an IRR
effective interest rate,
it also does a
projection through Final
Payment date consisting
of
a calculated Payment amount which will satisfy Current
Face Value as of Final
Payment Date
For
either method, the
software:
Calculates effective interest rates for each deal.
Amortizes Discount balances using the effective interest
method.
Produces a Discount amortization schedule for each deal.
Generates accounting reports for the entire file.
Is capable of amortizing other fee income and expense
items.
Want to view results for Your Deals?
We'll send you Excel sample Deals File
and, for Version 1, a Deals Payments file.
Return to us with two or three Deals and
their Payments.
Change client name to protect
privacy.
We'll import your files to the software
and sends results in Excel.
Call 1-800-245-8444
(Florida, Eastern Time)
or
email
Support@fdssi.com
Scroll down for
Highlights
Price page |
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About
the
software
….
Windows
Operates
on
laptop,
PC,
workstations,
network
sharing
devices
and
Cloud
based
systems
running
Windows.
Developed
in
Microsoft
.NET
Framework
Visual
Studio
within
Azure.
Macs
Operates
on Macs
with
Parallels.
Parallels
is a
third
party
app that
allows
Macs to
run
Windows
software.
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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 any month
End of any year
Calendar and Fiscal
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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Version 1 - Import a Deals File and a
Historical Payments File
Import a Deals file
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
(Version 1)
The software can also import a
Payments file at the same time
consisting of:
Deal number/Description
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:
Projects
anticipated Payments from the import
month through the Final pay 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
Flags records when Total Current Face Value differs
from "Original Face Value minus
Payments".
Flags records when deferral balance moves in the
opposite direction of anticipated,
generally due to inadequate total
Payments which causes a negative effective
(IRR)
rate.
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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Version 2 - Import a Deals File Only
For those who can not provide a Deals
Payments file.
Import an Excel file containing 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
The software generates reports and
individual recognition schedules based
on an average daily payment.
About Daily Face Value Reductions
Face Value is
reduced each day by a PAYMENT.
PAYMENT is calculated by the software as:
Original Face Value /
number of PAYMENT DAYS from and
including First Payment Date to and
including Final Payment Date
then
Current Face Value /
number of PAYMENT DAYS from and
including the first day following the
file YYYYMM import month through and
including the Final Payment Date.
PAYMENT DAYS represent all of the days
between either or the above dates,
excluding
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 First Payment
date or Final Payment date falls on any
of the above, the First Payment date or
Final Payment will become a PAYMENT DAY.
Granted, you might have fewer PAYMENT
DAYS due to other federal, state and
local holidays.
It doesn't matter if you have a few
less PAYMENT DAYS.
Your PAYMENT amounts will be
HIGHER than what the system calculates
as a PAYMENT.
You also might not have a
PAYMENT DAY due to bounces, skips,
forbearance and other adjustments made
to accommodate the customer.
If Face Value
decreases by 1,000.00, it doesn't matter
whether the individual daily payments
consisted of:
20 daily
payments of 50.00 on certain days or
25 daily payments
of 40.00 of which most fall on the same
days.
They both
generate a 1,000.00 reduction to Face
Value. FASB 91 is most interested in
having a correct Carrying
Balance NPV, which our system provides.
And, the software will amortize a
deferral over the actual number of days
for most contracts because most of your
clients make timely payments.
The system
might be
distributing daily payments slightly
differently than actual, but this is
significantly easier to accomplish than
trying to determine actual PAYMENT DAYS.
(while we agree
the Effective Interest Rate (IRR) will
vary slightly, test results indicate that any
variance does not significantly alter the
amortization results) |
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Price
Click to open and view
Price page
Want to view results for Your Deals?
Call or send an email.
We'll send you Excel sample Deals File
and Deals Payments file.
Return to us with two or three Deals and
Payments.
Change client name to protect
privacy.
We'll import your files to the software
and sends results in Excel.
For questions or more information,
please
Call 1-800-245-8444
(Florida, Eastern Time)
or
email
Support@fdssi.com
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