In the transactions with transfer of invoice;
- When you start to work with us, open a current account for BASER Factoring.
- Invoices, which you transferred, deduct from the account of your customer and transfer it to the current account of BASER Factoring. Then, your transferred receivable shall be appeared in the account of BASER Factoring.
- Record commission, factoring charge and expense invoices, issued by BASER Factoring for your company, as receivable into the current account of BASER Factoring.
- Record the payments, which you receive from us, as receivable into the current account of BASER Factoring.
- Interest and charge return shall be arisen in reference to your prepayment, to be made, for complete or partial of your debt in the current account before us. Debit amount of return invoice, which you issue due to arising charge and interest return into the current account of BASER Factoring.
- Debit cash payments, made by your firm to BASER Factoring for any reason in reference to your checks, which you transfer to our party, into the current account of BASER Factoring.
In the transactions, in which check/promissory note is given as instrument of payment in the attachment of invoice;
- Open a current account for BASER Factoring with the first transaction.
- Debit checks/promissory notes, which you give, into the current account of BASER Factoring.
- Record Debit checks/promissory notes, which you receive back without processing as receivable into the current account of BASER Factoring.
- Record dud checks and protested promissory notes as receivable into this account.
- Record commission, factoring charge and expense invoices, issued by BASER Factoring for your firm, as receivable into this account.
- Record the payments, which you receive from us, as receivable into the current account of BASER Factoring.
- Debit payments, (Cash Collection, Value of dud check etc.) made by your firm to BASER Factoring for any reason into the current account of BASER Factoring.
Transfer of term receivables from X Company :
120 BASER Factoring Current Account
120 X Company account
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Commission, factoring charge and expense amounts:
780 (7/A Option) or 797 (7/B Option) Financing expense
120 BASER Factoring Current Account
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Payments, made to your company by BASER Factoring:
100 or 102 Cash or Bank Account
120 BASER Factoring Current Account
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Payments, which you made to BASER Factoring :
120 BASER Factoring Current Account
100 or 102 Cash or Bank Account
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