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Receivable: Factoring

Receivable: Factoring

Minsan, ang isang kumpanya, malaki ang kita, malaki ang sales. Pero, kung lahat naman ng sales mo ay pautang, hindi maganda yun. Kukulangin ka sa cash na puede mong gamitin para sa operations mo na nangangailangan ng cash. So, unang gagawin ng mga kumpanya, sisingilin yung mga customer. Kaso, kung hindi pa due ung account ng customer, hindi pa natin sila pedeng singilin. Eh kelangan na talaga ng cash. So, ano gagawin ng kumpanya? E di lalapit kay Financial Institution para ibenta yung pautang(receivable na hindi mo pa masingil para magkaroon ka ng cash. At ito ang tinatawag na FACTORING.

Mas madali dyan sa pilipinas kasi ang lahat ng Factoring ay without recourse. Dito kasi sa US, pedeng magkaroon ng recourse and thus, magrerecognize ng liability para dun (FASB); So, erase erase erase. Ang factoring sa IFRS, outright, without recorse ok? So simple lang.

Ok, ano ba ang dapat tandaan sa Factoring:

Factor’s Holdback: ito yung percentage ng Purchase Price (unless otherwise specified) na ihohold muna ng Financial Institution para panigurado sa mga maaring mangyari tulad ng sales returns.

Factor’s Fee: Eto yung bayad sa Financial institution na bumili ng receivables mo. Usually percentage ito ng net receivables factored unless otherwise specified.

Loss: eto yung sum ng factor’s fee mo at ng difference ng Purchase price less AR,net Factored Less (gets? Papaliwanag ko mamaya)

At syempre ang pinakaimportante:
Proceeds: eto yung natanggap mo na cash

Ok, para mas claro, example tayo:

Dominic Co. factored its receivables because it needs cash to pay his due liabilities. He sold P200,000 of his receivables to a factor. The factor agreed to pay P190,000 for it but withholding 10%. The factoring agreement was settled at 5% of the receivables purchased and the receivables has a corresponding P7,500 allowance for doubtful accounts. Account for the transaction.

Ok, papano na to?

Ang magiging net proceeds mo ay:

Purchase Price: P190,000
Less: Factor’s Holdback: P19,000
Less: Factor’s Fee: P9,625
Equals: P 161,375

Ok, papano kinompyut ung:

Factor’s Holdback: diba sabi ko, ang rate ay based usually sa PURCHASE PRICE unless otherwise specified.
So, 190,000 * 10% = 19,000

Factor’s Fee: diba sabi ko rin, ang factor’s fee ay based sa NET RECEIVABLES FACTORED
So, (200,000 – 7500) * 5% = 9,625

O, magkano bale ang lugi mo:
Purchase Price P190,000
Less: Net Receivable: P192,500
Equals: P2,500 loss
(OOPS, INGAT, hindi pa to ang net gain/loss mo, dapat ang net gain/loss ay equal sa total nito at ng factor’s holdback)

So ang entry:
(dr)Cash 161,375
(dr)Receivable from Factor (or Factor’s Holdback) 19,000
(dr)Loss from Factoring (inclusive of factor’s fee) 12,125
(dr)Allowance for Doubtful Accounts 7,500
(cr)Accounts Receivable 200,000

Ang dapat tandaan:

Gain/Loss from factoring: ang total ng FACTOR’S FEE at ngpinaka gain or lugi mo talaga (purchase price less net receivables factored)

Sa problem:
Factor’s fee: P9,625
Saka yung loss na: P2,500
So, yung Loss from Factoring: P12,125

Factor’s Fee: based sya sa net receivables (usually, unless otherwise specified)

Factor’s Holdback: based sya sa Purchase Price ng Factor (usually unless otherwise specified)

Ok po ba? pag may tanong, tanong lang para claro tayo.

Very Happy

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Categories: Receivable: Factoring
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