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  3. Accounting

diskontokosten op vorderingen en schulden

English translation: finance charges ?

19:27 Aug 24, 2005
Flemish to English translations [PRO]
Accounting
Flemish term or phrase: diskontokosten op vorderingen en schulden
?discount costs
Andre de Vries
United Kingdom
Local time: 14:43
English translation:finance charges ?
Explanation:
Discontokosten op vorderingen would make sense (discounts allowed on amounts receivable), but discontokosten op schulden leaves me completely puzzled.
Selected response from:

jarry (X)
South Africa
Local time: 15:43
Grading comment
Thanks to both Jarry and Debbie.
4 KudoZ points were awarded for this answer



Summary of answers provided
3 +1NOT FOR GRADING - note to Jarry's answer
Deborah do Carmo
2 +1finance charges ?
jarry (X)


  

Answers


23 mins   confidence: Answerer confidence 2/5Answerer confidence 2/5 peer agreement (net): +1
finance charges ?


Explanation:
Discontokosten op vorderingen would make sense (discounts allowed on amounts receivable), but discontokosten op schulden leaves me completely puzzled.

jarry (X)
South Africa
Local time: 15:43
Specializes in field
Native speaker of: English
PRO pts in category: 28
Grading comment
Thanks to both Jarry and Debbie.

Peer comments on this answer (and responses from the answerer)
agree  Deborah do Carmo: see note I'm going to add - not enough space here
2 hrs
  -> Thanks, Your explanation makes a lot of sense.
Login to enter a peer comment (or grade)

2 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +1
NOT FOR GRADING - note to Jarry's answer


Explanation:
Is finance charges but more specifically costs payable on discounting transactions - on receivables for example the normal situation, i.e. I discount a receivable of €100 to bank and receive €80 - discounting charges on receivables are € 20.

On debts not sure - can only think this relates to fact that recourse always lies with initial holder. Therefore if the debtor defaults, the bank has recourse to the party that discounted the receivable for the capital amount but would also be entitled to further charges that have accrued since the date of discounting.

Typical entries

Example:

Te innen wissels verdisconteren (clientendisconto)
Gegevens :
Een wisselbrief wordt overgedragen aan de bank tegen onmiddellijke betaling van het bedrag verminderd met de discontokosten.
Bedrag van de te innen wissel = 15.625 EUR
Discontokosten = 150 EUR
Netto op onze bankrekening : 15.625 EUR - 150 EUR = 15.475 EUR

Journaalpost bij verdiscontering :
D 55 Kredietinstellingen 15.475
D 653 Discontokosten op vorderingen 150
C 434 Kredietinstellingen - Clientendiscontokrediet 15.625



Journaalpost bij gunstige afloop op de vervaldag van de wisselbrief :
D 434 Kredietinstellingen - Clientendiscontokrediet 15.625
C 401 Te innen wissels 15.625




Deborah do Carmo
Portugal
Local time: 14:43
Native speaker of: English
PRO pts in category: 4

Peer comments on this answer (and responses from the answerer)
agree  jarry (X)
9 hrs
  -> thanks
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