Hi Everyone,
The Corporation who owns the Finance Company I work for recently hired an accountant to handle the accounting for our Company to give me more time to concentrate on Underwriting and Collections.
I am now receiving requests from the accountant for the VIN for EVERY vehicle that is collateral for the Notes we have purchased. She says they all have to be listed as assets and she will track the profit\loss by creating an account for every single customer whose note we have purchased.
Does this sound right to you? Our assets are the notes, not the vehicles, right? Can you think of any reason the accounting department would need the individual customer's names and VIN?
Thanks,
Tim
Century Credit NC