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compte courant créditeur du Factor

English translation: a positive or credit balance of XX in Factor's current account


GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
French term or phrase:compte courant créditeur du Factor
English translation:a positive or credit balance of XX in Factor's current account
Entered by: Michael Lotz
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19:40 Sep 19, 2006Login or register (free) for more options.
French to English translations [PRO]
Bus/Financial - Finance (general) / Factoring company
French term or phrase: compte courant créditeur du Factor
From the notes to a company's financial statements:

La trésorerie de clôture inclut 8,1 M€ de compte courant créditeur du Factor au 31 décembre 2005 contre 3,7 M€ au 31 décembre 2004.

My brain is all muddled and I'm hoping someone could make this clear - is this saying that the Factoring company (Factor) is the debtor?

I am probably making this more complicated than it needs to be - many thanks in advance for any simple, straightforward explanations!
Sylvia Smith
France
Local time: 23:01
a positive or credit balance of XX in Factor's current account
Explanation:
There is a positive balance 8.1 M€ in the current (UK) or checking (US) account of the Factoring company.
"créditeur" in this case simply means positive balance to be unequivocal in the accounting.


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Note added at 19 mins (2006-09-19 19:59:22 GMT)
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So it is in fact the opposite of a "debtor" situation. Their balance rose to 8.1 M Euro from 3.7 M Euro the previous year.
Ref: Robert-Collins Business Dico.

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Note added at 15 hrs (2006-09-20 11:38:36 GMT)
--------------------------------------------------

That 8.1 M Euro is counted as an asset in the cash balance of the Company, and resides as a positive cash balance in the 'compte courant' of the Factor. It is the money of the Company and not of the Factor in the sense that the Factor has collected it on behalf of the Company and it is now sitting in the current account of the Factor, for the benefit of the Company. It may sound convoluted but it the words make it sound more complicated than it is.

a 'compte courant créditeur" means simply a positive balance. ( a negative or 'compte courant débiteur' is also possible if the account holder has taken an advance on money; that is not the case here). So the financial report is of the amount belonging to the company that is still in the hand of the Factor in the Company's current account collection bin.

Does that make sense ?
-----------------
"Un contrat d'affacturage (ou de « factoring ») national suppose une relation triangulaire... Celle-ci met en relation les trois parties suivantes :

Le vendeur, ou client, qui est en position de créancier et qui est l'acheteur de la garantie;
L'acheteur qui est en position de débiteur vis-à-vis du vendeur;
La société d'affacturage (ou factor), qui acquiert du vendeur la créance que celui-ci a sur l'acheteur."

http://www.syga-assurance.com/pages/espace-affacturage.htm
" Le compte courant est un compte débiteur ou créditeur.
Il peut être tour à tour créditeur ou débiteur."
http://www.netpme.fr/banque-entreprise/7-compte-courant.html
Selected response from:

Michael Lotz
United States
Local time: 17:01
Grading comment
Thank you Michael and a05. Your explanations are brilliant. It kills me that I can't give points to both of you...
4 KudoZ points were awarded for this answer



Summary of answers provided
5 +2a positive or credit balance of XX in Factor's current account
Michael Lotz
3 +1includes the Factor's current account credit balance of € XX
a05


Discussion entries: 5





  

Answers

25 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +1
includes the Factor's current account credit balance of € XX


Explanation:
The company owes money to the Factor because the latter has provided funding secured with the company's receivables.

--------------------------------------------------
Note added at 29 мин (2006-09-19 20:10:01 GMT)
--------------------------------------------------

the same as Michael's, the company is the debtor


    Reference: http://www.actifin.fr/ausy/docs/RA%20Ausy.pdf
a05
Native speaker of: Native in RussianRussian
PRO pts in category: 64

Peer comments on this answer (and responses from the answerer)
agree  Rob Grayson
14 mins
Login to enter a peer comment (or grade)


14 mins   confidence: Answerer confidence 5/5 peer agreement (net): +2
a positive or credit balance of XX in Factor's current account


Explanation:
There is a positive balance 8.1 M€ in the current (UK) or checking (US) account of the Factoring company.
"créditeur" in this case simply means positive balance to be unequivocal in the accounting.


--------------------------------------------------
Note added at 19 mins (2006-09-19 19:59:22 GMT)
--------------------------------------------------

So it is in fact the opposite of a "debtor" situation. Their balance rose to 8.1 M Euro from 3.7 M Euro the previous year.
Ref: Robert-Collins Business Dico.

--------------------------------------------------
Note added at 15 hrs (2006-09-20 11:38:36 GMT)
--------------------------------------------------

That 8.1 M Euro is counted as an asset in the cash balance of the Company, and resides as a positive cash balance in the 'compte courant' of the Factor. It is the money of the Company and not of the Factor in the sense that the Factor has collected it on behalf of the Company and it is now sitting in the current account of the Factor, for the benefit of the Company. It may sound convoluted but it the words make it sound more complicated than it is.

a 'compte courant créditeur" means simply a positive balance. ( a negative or 'compte courant débiteur' is also possible if the account holder has taken an advance on money; that is not the case here). So the financial report is of the amount belonging to the company that is still in the hand of the Factor in the Company's current account collection bin.

Does that make sense ?
-----------------
"Un contrat d'affacturage (ou de « factoring ») national suppose une relation triangulaire... Celle-ci met en relation les trois parties suivantes :

Le vendeur, ou client, qui est en position de créancier et qui est l'acheteur de la garantie;
L'acheteur qui est en position de débiteur vis-à-vis du vendeur;
La société d'affacturage (ou factor), qui acquiert du vendeur la créance que celui-ci a sur l'acheteur."

http://www.syga-assurance.com/pages/espace-affacturage.htm
" Le compte courant est un compte débiteur ou créditeur.
Il peut être tour à tour créditeur ou débiteur."
http://www.netpme.fr/banque-entreprise/7-compte-courant.html

Michael Lotz
United States
Local time: 17:01
Native speaker of: Native in EnglishEnglish
PRO pts in category: 103
Grading comment
Thank you Michael and a05. Your explanations are brilliant. It kills me that I can't give points to both of you...

Peer comments on this answer (and responses from the answerer)
agree  juliebarba: agree but does it even have to be mentioned? isn't a closing cash postion including 8.1m in Factor's current account sufficient? or as we're talking factoring could it be the paying in account?? would a factoring company have an in/out account?
1 hr
  -> Yes would be sufficient I think. And no, an account is not in/out: it simply can be positive or negative balance for accounting purposes. thanks julie.
agree  Céline Débiton
12 hrs
  -> merci Céline
Login to enter a peer comment (or grade)





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