Accounting Services

Seller Accounting

Keeping the Seller's ERP inline

Sellers of trade receivables need to know if the receivable has been sold, and if so, at what price. Only then does the accounting department know whether to debit the receivable against cash and declare the VAT on the gross discount as input tax. if the trade receivable is not sold, it must be continued as an unpaid invoice. TrustBills' Reporting Engine creates CSV files for selected trade receivables, which can be imported into ERP systems to synchronize the state of each trade receivable between TrustBills and the ERP.
Buyer's Accounting

Keeping the Buyer's ERP inline

Similarly, the ERP System of the buyer of the trade receivables is synchronized with TrustBills. When the trade receivable is acquired, the receivable, the purchase price and the gross and net discount are recorded. When the debtor pays the receivable around due date, the buyer of the trade receivables records the proceeds from the auction or the Instant Buy transaction.

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