Merchant Cash Advances, FASB GAAP  

Financial Data Support Systems, Inc. 
Amortization Software Products
Loan Files: FASB Effective interest method
Loan packages: Effective interest method
  Merchant Cash Advances page
FASB 91: All products
Bond  Purchasers: Effective Interest Method
Bond Purchasers:  Straight Line Method
Prepaid Expenses, Deferred Charges    
Deferred Income, Unearned Revenue
Fixed Assets, FF&E Depreciation    
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GAAP, FASB compliant software
 

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




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     Highlights
     Price page
 








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.
 







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








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.
















































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)






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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