[ryan $]

Can anyone point me in the direction of a Platform for Funding that Supports Reverse Consolidations.

The way the Platform I have now is, If I wanted to Fund a Reverse I would have to Enter in Deal #1 (week1), Deal #2 (Week2) Etc. It Works but it isnt GEARED toward a Reverese. Id Like it all Counted as ONE Deal and be SMOOTH. Its like I jerry Rigged the Systtem to Support Reverses, and it is just stupid.

Obviously I need something that Funds Regular deals as well (as I dont really want to have 2 Platforms.

Any help would be appreciated.

[ryan $]

Anybody?

[mrmrg]

Reverses are dead man.

[Southern_Funding]

Yeah, we used to fund a nice amount of reverses but they're too difficult to calculate and price these days. Their payments are all over the place...

[Michael I]

Reverses are dead man.

he is a funder doing them that needs a better platform

[ryan $]

he is a funder doing them that needs a better platform

Reverses are very much alive.

[mistamca]

Are looking to track it from an accounting POV or a system to service it?

[ryan $]

Are looking to track it from an accounting POV or a system to service it?

Both. A Platform to Fund the Weekly Advances according to the Terms of the Contract, Collect Daily Payment, and keep track of the deal progress. Just a Funding Platform, that is integrated w/ an ACH Processor that is built to fund reverses.

And Obviously feed the Payment Data back into the system, Pay Syndicators their percent, etc.

[Don Dolla]

reverses are very labor intensive, you have to monitor the account very closely, logging in to make sure not only you are getting paid but that the merchant is paying the other funders as well

[RickyR3712]

Every week,new deal is only way to do it

[mistamca]

Both. A Platform to Fund the Weekly Advances according to the Terms of the Contract, Collect Daily Payment, and keep track of the deal progress. Just a Funding Platform, that is integrated w/ an ACH Processor that is built to fund reverses.

And Obviously feed the Payment Data back into the system, Pay Syndicators their percent, etc.

Check out a low code platform. Its not the sexiest but it got the job done for me. I use Quick Base. They used to be owned by Intuit (owner of QuickBooks) so it was great to help with the accounting side. You can integrate it with ACHworks as well. I send out the NACHA files directly to the bank so I can notified of miss payments much quicker than using a 3rd party like ACHworks

[FlexibleCapitalSolutions]

Check out a low code platform. Its not the sexiest but it got the job done for me. I use Quick Base. They used to be owned by Intuit (owner of QuickBooks) so it was great to help with the accounting side. You can integrate it with ACHworks as well. I send out the NACHA files directly to the bank so I can notified of miss payments much quicker than using a 3rd party like ACHworks

is this difficult to do ?

[D.C]

Hey guys I can help set a system up for ya'll.. We have many clients that do reverses and have set them up with appropriate tracking.
Dassi Cole
Better Accounting Solutions
40 Wall Street NY NY 10005
347-416-3928 / Dassic@betteraccountingsolutions.com

[mistamca]

is this difficult to do ?

Ehhh. These platforms allow you to build out some very helpful applications without knowing any code. I have use a bit of code to make things a bit more automated. Reverses can be a bit more annoying depending on how you are accounting these transactions.

I dont treat each funding as a new deal for a reverse but rather just increasing the COGs on the overall deal.