Trade Accounts Receivable and Allowance for Doubtful Accounts

12 Months Ended

Dec. 31, 2018

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,
	2018			2017
Trade accounts receivable	$	3,903		$	6,419
Allowance for doubtful accounts		(15	)		(15	)
Trade accounts receivable, net	$	3,888		$	6,404
Unpaid deferred revenue included in trade    accounts receivable	$	2,030		$	2,217

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

Major customers

The following customers accounted for 10% or more of trade accounts receivable, net:

	December 31,			December 31,
	2018			2017
Central Banks		48	%		47	%

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. In the third quarter of 2017, the Company recognized revenue of $3,500 for a one-time 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.