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GAAP,
FASB compliant
software
for Windows® 10 on a computer,
laptop and network sharing systems
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FASB 91
Merchant Cash Advances
Discount on Proceeds Amortization
Software
Effective
Interest Method
for Daily
Payments
Satisfy audit
and regulatory
requirements in
2 easy steps:
1) Create an extract file from your servicing
system
2) Automatically import that file to software on
your PC or
network sharing
system
Generate:
Accounting reports
Current discount balances
Discount amortization schedule for each deal
Amortize other fee income and expense, too
Scroll down for
Highlights
Price page
Free demo you can download right now |
Hard to find
Accounting
Software |
FASB 91 software for Merchant Cash
Advances with daily payments
Amortize hundreds,
thousands of MCA deals at the same time
IRR
Effective interest rate calculation for each
fee. each record.
Lifetime amortization schedule
for each fee, for each record.
% reductions for
Joint venture participations.
Freeze Schedule when a deal goes
bad.
Clear up audit exceptions with a minimum
amount of effort.
Determine what
Discount
and Expense Balances should
be
when
using the
effective
interest method
for daily
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:
FASB ASC 310-20 effective interest rates (IRR)
Net Present Value (Carrying Balance, Book Value)
Discount on Proceeds Balance (Deferred Income Balance)
Auditor schedules
for each record:
Day-by-Day
Discount
recognition
based on daily
payments
Monthly totals
Supportive documentation
IRR, NPV independent
verification in seconds
Try a free demo right now with some of your records
Show results to your auditor (automatically export
reports and
schedules to
Excel)
PROSPECTIVE Schedules:
A schedule can be produced as if
all payments had been made in a timely
manner.
RETROSPECTIVE Schedules:
Current Face Value from the import
file will be included and, if different
than expected, the schedule will be
updated using a new Effective Interest
Rate.
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About Daily Face Value Reductions
The amount by which Face Value is being
reduced each day by a PAYMENT.
PAYMENT is calculated by the system as:
Original Face Value /
number of PAYMENT DAYS from and
including First Payment Date to and
including Final Payment Date
OR
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 paymens.
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 and free demo |
Price and free demo
Click to open and view
Price page
Download a free demo from the Price page
which includes:
• A live version of the software
• Sample records
• Run reports
For questions or more information,
please
Call 1-800-245-8444
(Florida, Eastern Time)
or
email
Support@fdssi.com
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Free
sample reports for YOUR records
• We can provide you with free report
samples for up to 5 of your records
• Request our Excel data layout file
• Email the file
• We will generate and return an email with an
Excel file containing your
reports
Click to request the Excel data file via
email:
Support@fdssi.com
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Price Page ....
Price and free demo
Click to open and view
Price page
Price page
contains a link to download a free demo
right now.
For questions or more information,
please
Call 1-800-245-8444
(Florida, Eastern Time)
or
email
Support@fdssi.com
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