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Monday to Friday 9:00am to 6:00pm EST
718-215-3850
718-215-3850
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Grow your Merchant Cash Advance Business
We are the largest accounting firm that specialized in bookkeeping specifically for Merchant Cash Advance businesses.
Our Merchant Cash Advance specialists know MCA CRM data programs, and are trained in verifying and generating journal entries in QuickBooks.
We deliver your financials, and review your books during monthly quality reviews, leaving you confident that your business' financials are audit-ready.
We believe in processes, which allow us to scale and optimize MCA businesses.
First, we aggregate and import existing transactions from your CRM into QuickBooks. We will also take reports from CRM and validate them at the bank to ensure their accuracy.
Our Merchant Cash Advance specialists track the data from your deals for you. They do this by taking specifics from your external CRM (such as MCA Suite, OrgMeter, MCA Track and LendTech,) and merging them into QuickBooks.
Each time that your company makes a deal, we will receive a breakdown of its data. Using this, we will track its specifics, such as deal amount, payback amount and time, defaults, and slow payers.We assign each deal to their account, loan number, and RTR.
If your MCA funds a $100,000 deal with a RTR of $150,000, the RTR is 3% over the funding. If the daily paybacks are $1,500.00, we recognize 33% of that ($500) as recognized income.
We post 10% of paybacks per account toward Bad Debt and Default Reserve. This is done to absorb defaults when they occur, and we evaluate the default rate once a year.
We do this to allocate the bad debt over the duration of the loan, and so that your income statement looks orderly at the end of the month.
Our process is the key to scaling your business.
Review, approve, prepare and submit your financials during monthly quality reviews.
Prepare your MCA Fund for financial audits and provide constant support from a specialized MCA manager.
Train our bookkeepers in your deal tracking software (i.e. MCA-Track, MCA Suites, OrgMeter, LendSaas, Centrex and others) to keep everything up to date.
Keep your deals organized by assigning each of them their own account, loan number, and RTR. We will also take reports from your CRM and validate them at the bank to ensure their accuracy.
Recognizing income by the merchant paying back the RTR by taking the percentage that the RTR is over the income.
We deliver your financials, and review your books during monthly quality reviews, leaving you confident that your business' financials are audit-ready and solid.
