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Then you can assign cards that operate on the account to people (expenses) or Assets

Trade Finance Bank Account

Discussion

Trade financing is when the bank will forward some funds to you for a % of invoices you have sent out to customers so you can have the cash earlier and not have to wait to collect it.

The account is normally effectively a loan.

The bank normally expects that all the debtors they are trade financing will be instructed to pay into the trade finance account.  This helps minimise the loan and also keep track of the performance of individual debtors.

Bank Account Setup as Trade Finance Account

Note - only one bank account can be the Trade Finance account at a time

Bank Account on Invoices

When a bank account is flagged as "Trade Finance" then invoices sent from the system or viewed online will have the following bank details:

• Debtors flagged as "Exclude from Trade Financing" - will show the bank account with Default set to "Debtor" or "Both"
• All other debtors will show the Bank account with the special type "Trade Finance"

Regular Providing invoices to the Bank

The bank will request all invoices to be sent to them regularly - use the Trade Finance Screen for this.

Aging summary by Due Date

The aging summary can exclude Trade Finance Debtors

OLD Bank Reconcilation - Enter an opening balance for the bank account

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The batch is cleared in the bank account using the normal method - see ReconcilingCreditCardBatchesBatches32965329

Credit Card Payments using credit card gateways like Eway

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