Fakturabelåningskredit

English translation: invoice discounting advances

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Swedish term or phrase:Fakturabelåningskredit
English translation:invoice discounting advances
Entered by: Helen Johnson

12:00 Jun 15, 2010
Swedish to English translations [PRO]
Bus/Financial - Finance (general) / accounts
Swedish term or phrase: Fakturabelåningskredit
Fakturabelåningskredit
Simply one of the list under equity and debt in a profit/loss account.
TIA
Helen Johnson
United Kingdom
Local time: 04:21
invoice discounting credit
Explanation:
Fakturabelåning is what is known in the UK as "invoice discounting"; similar to factoring (see ref). How "credit" fits in I am not sure, but it sounds as if the customer is being credited with an amount as part of an invoice discounting arrangement with a bank or similar. And that needs to be reported in the accounts.
Selected response from:

Peter Linton
Local time: 04:21
Grading comment
Thanks!
4 KudoZ points were awarded for this answer



Summary of answers provided
4 +1invoice discounting credit
Peter Linton
3Mortgage credit account
TatjanaLillr (X)
2 -1factoring
Ingemar Kinnmark


  

Answers


17 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
Mortgage credit account


Explanation:
..

TatjanaLillr (X)
Local time: 06:21
Meets criteria
Native speaker of: Native in RussianRussian
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1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
invoice discounting credit


Explanation:
Fakturabelåning is what is known in the UK as "invoice discounting"; similar to factoring (see ref). How "credit" fits in I am not sure, but it sounds as if the customer is being credited with an amount as part of an invoice discounting arrangement with a bank or similar. And that needs to be reported in the accounts.


    Reference: http://en.wikipedia.org/wiki/Factoring_%28finance%29
Peter Linton
Local time: 04:21
Meets criteria
Specializes in field
Native speaker of: English
PRO pts in category: 176
Grading comment
Thanks!

Peer comments on this answer (and responses from the answerer)
agree  Chris S: You've done the most important bit, but I think we'd call it "invoice discounting advances", the kredit being the money advanced to the company (borrowed by the company) against its debtors
21 mins
  -> Good point. Thank you.
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1 hr   confidence: Answerer confidence 2/5Answerer confidence 2/5 peer agreement (net): -1
factoring


Explanation:
Från Gullberg:

kredit vid fakturabelåning
factoring


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Note added at 1 hr (2010-06-15 13:50:36 GMT)
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Från Wikipedia:

Title:

Factoring (finance)

Text:

Factoring is a financial transaction whereby a business sells its accounts receivable (i.e., invoices) to a third party (called a factor) at a discount in exchange for immediate money with which to finance continued business. Factoring differs from a bank loan in three main ways. First, the emphasis is on the value of the receivables (essentially a financial asset)[1], not the firm’s credit worthiness. Secondly, factoring is not a loan – it is the purchase of a financial asset (the receivable). Finally, a bank loan involves two parties whereas factoring involves three.

Link: http://en.wikipedia.org/wiki/Factoring_(finance)


Ingemar Kinnmark
Local time: 23:21
Does not meet criteria
Native speaker of: Native in SwedishSwedish
PRO pts in category: 12

Peer comments on this answer (and responses from the answerer)
disagree  Peter Linton: To me, "belåning" indicates it is invoice discounting, not factoring. Factors usually offer both services. See my ref.
2 hrs
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