Authored by: Claudia Montalbano & Kevin Biebel
This is the first-ever Finance and Accounting Manual for Factors covering the proper accounting policies and procedures for both Factors and Factoring Clients!
This factoring accounting guidebook walks you through every possible accounting entry related to the purchase, collection, and closing out of chargebacks and reserves of Factored Accounts Receivable. It includes a sample chart of accounts, different methodology for tracking reserves, how to guide your clients on proper accounting methods, and much more.
This factoring accounting handbook also discusses how the legalities of the Factoring Agreement affect generally accepted accounting principles.