Trade Accounts Receivable and Allowance for Doubtful Accounts

12 Months Ended

Dec. 31, 2017

Receivables [Abstract]

Trade Accounts Receivable and Allowance for Doubtful Accounts

(6) Trade Accounts Receivable and Allowance for Doubtful Accounts

Trade Accounts Receivable

Trade accounts receivable are recorded at the invoiced amount.

	December 31,			December 31,
	2017			2016
Trade accounts receivable	$	6,419		$	5,093
Allowance for doubtful accounts		(15	)		(15	)
Trade accounts receivable, net	$	6,404		$	5,078
Unpaid deferred revenue included in trade    accounts receivable	$	2,217		$	2,245

Allowance for doubtful accounts

The allowance for doubtful accounts is the Company’s best estimate of the amount of probable credit losses in the Company’s existing trade accounts receivable. The Company determines the allowance based on historical write-off experience and current information. The Company reviews its allowance for doubtful accounts each reporting period. Account balances are charged against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote.

Unpaid deferred revenue

The unpaid deferred revenue that are included in trade accounts receivable are billed in accordance with the provisions of the contracts with the Company’s customers. Unpaid deferred revenue from the Company’s cash-basis customers are not included in trade accounts receivable nor deferred revenue.

Major customers

Customers who accounted for 10% or more of trade accounts receivable, net are as follows:

	December 31,			December 31,
	2017			2016
Central Banks		47	%		57	%

In addition to the above, the Company had another customer who accounted for 10% or more of the Company’s accounts receivable at December 31, 2017. The customer is an existing licensee.  In the third quarter of 2017, the Company recognized revenue of $3,500 for an upfront license fee. The license fee was paid in two equal installments of $1,750 in October 2017 and January 2018.  As of December 31, 2017, $1,750 remained in accounts receivable.