This import is a custom and very specific import and not available to all customers due to the complexity of import.
MCA Syndication and Transaction Imports
Clients can use MCA Suite to setup and track syndicated deals they participate in as investors with other funders. Using MCA Suite’s syndication deal and syndication transaction import templates, clients can import syndicated deals and transaction directly into MCA Suite.
The syndicated deal import process creates the merchant company, deal and syndication set-up all at once. The syndicated transaction import applies transactions to the deal and syndication schedule.
Broker commissions will also be imported as part of the syndication deal upload. We create the commission using:
1) a unique broker ID (the broker receiving this commission needs to be entered in the CRM as a broker company beforehand; assign the broker company a “broker ID” number using the “Third Party ID” field on the Broker Company Details page);
2) the broker commission percentage (percentage of the deal advance amount that is being paid to broker) and
3) the broker gross commission (equal to the broker commission percentage of the advance amount).
Clients can import syndicated deals into MCA Suite using an import template.
Setup before Import
Before being able to use the import template and upload syndicated deals to MCA Suite, you will have to fulfill the following set-up prerequisites:
1) Deal Categories - The import spreadsheet will have a column for Deal Category (classifies the uploaded deal with a particular deal category). Make sure the deal categories you want to upload via the template (to assign to the deals you are uploading) are already set-up in MCA Suite.
To do this, go to the Admin main tab, and click on the Setup left-navigation tab. Then click on the Application Configuration tab within Setup. Scroll down to the section called “Cash Advance Deal Category.” Input cash advance categories to match the types you are including in the spreadsheet for the syndicated deals you want to import.
2) Create company records for the companies that will be primary underwriters/funders on a deal. When creating these funding companies, make sure to select “Funder” and “Collector” as the “Contact Type.”
Advanced ID from the import template gets copied to deal name (ie, becomes the default deal name) and into the collection method’s “Merchant Number” field. The “Collection Method” Collector company is the same as the “funder” on the syndicated deal. We do this to try and mimic our current upload process. This is why the user needs to choose “Collector” as contact type for the primary underwriter/funder companies.
3) Create company records for the companies that will be secondary participants or syndicators on a deal. These companies can be any contact type; we recommend checking them off as “Investor” contact types.
4) Create company records for the Brokers you will be including on the upload spreadsheet and importing as part of the syndicated deal. When you enter the broker companies, on the Add Company page, you will see a field called “Third party Id.” Assign the broker company a Third party ID, and then include both pieces of information on your import spreadsheet.
Syndicated Deals Template (CSV)
Please note that all fields are required
|A||Advance Date||date of advance (must be in mm/dd/yy format)|
|B||Advance ID||unique ID that ties transactions to deal. must be unique (not previously existing in MCA Suite). Goes into the “merchant number” field in collection and becomes the default deal name.|
|C||Merchant ID||Unique ID stored for reference in the Company- third party id. Not used for import.|
|D||Company Legal Name||merchant legal name|
|E||DBA||merchant doing-business-as name|
|F||Full Advance||amount of cash advance|
|G||Full Factor||cash advance factor|
|H||Full Payback||payback amount (cash advance * factor)|
|I||Deal Category||Specific category of cash advance. The categories you want to attach to the deals you are uploading via template, must already exist in MCA Suite. To enter in these deal categories, go to Admin > Setup > Application Configuration page, and scroll to the “Cash Advance Deal Categories section to input them.|
|J||Syndication Percentage||Percentage syndicator is contributing towards deal|
|K||Syndicator Advance Amount||Syndication Percentage of the Deal Advance Amount|
|L||Syndicator Payback Amount||Syndicator Deal Advance Amount * Deal Factor|
|M||Broker ID||Unique Broker ID - to be entered when creating the Broker Company record, in “Third Party ID” field.|
|N||Broker Commission Percentage||percentage of the deal advance amount that is being paid to broker|
|O||Broker Gross Commission||deal advance amount * broker commission percent|
|P||Syndicator Gross Commission||advance amount * broker commission percent * syndication percentage|
|Q||City||merchant company city|
|R||State||merchant company state (abbreviation)|
|S||Zip||merchant company zip code|
|T||Industry||SIC Code or Industry (required; you can set Industries and SIC Codes in the Admin > Set Up > Application Configuration > Industries tab. If you do not use SIC Codes or Industries, you can create a general one and give it a code just for the purpose of this import). Code must be a whole number.|
|U||Deal Length||term of deal in MONTHS|
|V||Funder_Pct||Funder’s participation percentage|
|W||Funder_Adv_Amt||Funder’s syndication advance amount|
|X||Other Participant %||Other syndicator’s participation percentage|
We implemented the following validation checks for information on the deal syndication import:
1) Merchant ID MUST be unique in our system (we are creating the new merchant and merchant ID).
2) Broker ID must exist in our system. As explained above, users enter this Broker ID # on the Add New Company page when creating the new Broker Company record (enter in the field labeled “Third Party ID.”)
3) Deal Categories listed on the template must exist in MCA Suite. Go to the Admin > Setup > Application Configuration page and then scroll down to the “Cash Advance Deal Category” section to input the new deal categories.
4) Calculation Validations:
A. Payback Amount (must equal advance amount * factor);
B. Syndicator Amount (must equal advance amount * syndicator factor);
C. Syndication Payback (must equal payback amount * syndicator factor);
D. Broker Gross Commission (must equal advance amount * broker commission percent);
E. Syndicator Gross Commission (must equal advance amount * broker commission percent * syndicator commission percent);
F. Syndication Percent + Underwriting Percent + Other Percent must add up to 100.
5) Advance ID and Funder combination must be unique in MCA Suite.
6) Percentages should be written in integer form from 0-100 (i.e., 10% should be entered as 10, not as .10).
7) Advance Date format must be mm/dd/yy (e.g., 12/25/14).
Importing Syndicated Deals
To import syndicated deals, go to the “Admin” main tab. Click on the “Import” left side navigation tab, and then click on the “Syndicated Deals” subtab.
You will see Four (4) text fields: “Funder,” “Syndicator,” “Other Investor,” and "Broker." These fields are “look-up” fields that search against existing companies in MCA Suite; this is why you need to create these potential funders and syndication participants as company records FIRST, before importing syndicated deals. The “Funder” field searches against “funder” or “collector”-type companies. The "Broker" field searches against "broker" contact type companies. “Syndicator” and “Other Investor” fields search against companies of any contact type.
After inputting these company names, drag and drop your csv-format import template from your computer onto this page. Click the “Verify” button to have MCA Suite verify and accept the information contained in the spreadsheet. You will be notified if any rows contain some error that prevents the information from being processed.
The “Advance ID” column needs to contain a unique Advance ID number. If you attempt to upload a spreadsheet that contains a duplicate Advance ID number, MCA Suite will notify you that an Advance ID has already been used and prevent the template from being processed.
Once the information on the import template has been verified, you will see a summary of the deal information you are attempting to import. After you have checked and approved this information, click the “Confirm Import” button.
Doing this will:
1) create the new merchant company records;
2) create the deals, with deal details and deal tracking pages and
3) create the syndicated deals, showing syndication details and participation breakdowns.
NOTE: The default name we give the deal upon import is the Advance ID of the deal + Broker ID (in this example, that is 200_100). You can always change this name to one of your choosing by clicking on the Deal Details tab and editing the Deal Name field.
Syndicated Transactions Template
Please note that all fields are required
|Advance ID||Deal ID, required to match the transactions to the deal.|
|Transaction Type||- Repayment|
|Transaction Date||Date of the transaction|
|Transaction Amt||Amount of the transaction|
|Syndicator Pct||Percentage of transaction due to syndicator|
|Gross Due to Syndicator||Total gross amount due to syndicator before fees (Transaction Amt * Syndicator Pct)|
|Net Due to Syndicator||Total net amount due to syndicator after fees (management and residual)|
|Management Fee %||Percentage of transaction going to management fees|
|Management Fee||Percentage of transaction going to management fees and subtracted from Gross Due to Syndicator|
|Residual Pct||Percentage of transaction going to residual fees|
|Residual Fee||Percentage of transaction going to residual fees and subtracted from Gross Due to Syndicator|
We implemented the following validation checks for information on the syndicated transaction import:
1) Transaction type must be specified, either “Repayment,” “Fee,” or “Discount.”
2) Transaction date format must be mm/dd/yy (e.g., 09/15/14)
3) Syndication Amount must equal Transaction Amount * Syndication Percentage.
4) Advance ID and Funder must already exist in MCA Suite.
5) Syndication Percentage must match existing syndication percentage for the deal.
Importing Syndicated Transactions
To import syndicated deals, go to the “Admin” main tab. Click on the “Import” left side navigation tab, and then click on the “Syndicated Transactions Deals” subtab. You will see two text fields: “Funder” and “Syndicator.” These fields are “look-up” fields that search against existing companies in MCA Suite, so you will need to create these potential funders and syndication participants as company records FIRST. The “Funder” field searches against “funder”- or “collector”-type companies, and “Syndicator” field searches against companies of any contact type.
After inputting these company names, drag and drop your csv-format import template from your computer onto this page. This is a two-part process: first you will select the file so it sits in our server; then you will click the “Verify” button to have MCA Suite verify and accept the information contained in the spreadsheet. You will be notified if any rows contain some error that prevents the information from being processed. Or you can choose to drag and drop a different csv file template before processing.
MCA Suite will run a check to make sure the Advance ID entered on a given line in the spreadsheet file, matches up to the funder on the deal. The funder on a deal is the “Collector” company displayed in the Deal Tracking > Collection Method section (after a syndicated deal is imported). The Advance ID will populate to the Merchant # field in the “Collection Method” section of the deal tracking page for a deal.
Once the information on the syndication transaction import template has been verified, you will see a summary of the transaction information you are attempting to import. After you have checked and approved this information, click the “Confirm Import” button.
The syndication transactions are copied to two places:
1) The deal tracking page, where the type (“upload”), date of transaction, description (i.e., “transaction type” from the spreadsheet), transaction amount, collector (the “funder” company entered when the syndicated deal and syndicated transactions were imported) and merchant # (i.e., Advance ID) are displayed.
2) The transactions also appear on the Syndication page in a deal, broken down according to various participation percentages. It is when transactions are uploaded that management (house) fees are calculated, displayed and subtracted from syndicators’ target collection totals.
Broker Commissions are generated upon Syndicated Deals import. The import creates a commission for the broker associated with the Third Party ID on the imported deal, which displays on the Deal > Commission & Fees page.
The Commission Type is automatically created as “Payable,” and the “Broker Gross Commission” on the spreadsheet becomes Scheduled and Settled amount for the commission. “Broker Commission Percentage” displays in the “%” column. You can delete the commission by clicking on the trash can icon, or add new ones manually using the “Add Commission” button.
The Transaction Import also includes commission information that automatically creates Residual commissions. These appear on the Deals > Commission & Fees page for the deal, within a particular commission (click on the pencil icon next to the commission) as a list of residuals.