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FINANCE RECEIVABLES
 12 Months Ended
Jun. 30, 2023
Receivables [Abstract]  
FINANCE RECEIVABLES FINANCE RECEIVABLES
The Company’s finance receivables consist of financed devices under the QuickStart program and devices contractually associated with the Seed platform. Predominately all of the Company’s finance receivables agreements are classified as non-cancellable sixty-month sales-type leases. As of June 30, 2023 and 2022, finance receivables consist of the following:
As of June 30,
($ in thousands)20232022
Current finance receivables, net$6,668 $6,721 
Finance receivables due after one year, net13,307 14,727 
Total finance receivables, net of allowance of $2,098 and $760, respectively
$19,975 $21,448 
We collect lease payments from customers primarily as part of the flow of funds from our transaction processing service. Balances are considered past due if customers do not have sufficient transaction revenue to cover the monthly lease payment by
the end of the monthly billing period.

Credit risk for finance receivables is continuously monitored by management and reflected within the allowance for finance receivables. As our finance receivables generally have similar risk characteristics, our key credit quality indicator is the aging (days past due status) of our aggregated finance receivables balances. Specifically, we estimate our allowance by using an aging analysis of the aggregated finance receivables balances, primarily based on historical loss experience. Additionally, current conditions are analyzed to determine if the allowance calculation needs to be adjusted further for any qualitative factors impacting a customer’s ability to meet its financial obligations that is not already reflected through the historical loss analysis. The Company writes off finance receivable balances against the allowance for credit losses when management determines the balance is uncollectible and the Company ceases collection efforts.

At June 30, 2023, the gross lease receivable by current payment performance on a contractual basis and year of origination consisted of the following:
Leases by Origination
($ in thousands)Up to 1 Year AgoBetween 1 and 2 Years AgoBetween 2 and 3 Years AgoBetween 3 and 4 Years AgoBetween 4 and 5 Years AgoMore than 5 Years AgoTotal
Current$6,595 $6,505 $3,304 $1,306 $846 $829 $19,385 
30 days and under66 73 69 52 22 68 350 
31 - 60 days53 40 32 42 19 71 257 
61 - 90 days60 52 26 32 16 71 257 
Greater than 90 days155 132 197 233 271 836 1,824 
Total finance receivables$6,929 $6,802 $3,628 $1,665 $1,174 $1,875 $22,073 
At June 30, 2022, the gross lease receivable by current payment performance on a contractual basis and year of origination
consisted of the following:
Leases by Origination
($ in thousands)Up to 1 Year AgoBetween 1 and 2 Years AgoBetween 2 and 3 Years AgoBetween 3 and 4 Years AgoBetween 4 and 5 Years AgoMore than 5 Years AgoTotal
Current$7,451 $5,047 $2,758 $2,593 $2,807 $103 $20,759 
30 days and under18 10 32 56 94 3 213 
31 - 60 days25 23 26 58 100 — 232 
61 - 90 days25 14 20 46 91 — 196 
Greater than 90 days41 47 97 232 391 — 808 
Total finance receivables$7,560 $5,141 $2,933 $2,985 $3,483 $106 $22,208 

The following table represents a rollforward of the allowance for finance receivables for the year ending June 30, 2023 and 2022:
($ in thousands)Year ended June 30, 2023Year ended June 30, 2022
Balance, beginning of period$760 $1,109 
Provision for expected losses1,626 36 
Write-offs(288)(385)
Balance, end of period$2,098 $760 


Cash to be collected on our performing finance receivables due for each of the fiscal years after June 30, 2023 are as follows:
($ in thousands)
2024$7,956 
20256,126 
20264,833 
20273,050 
20281,077 
Thereafter56 
Total amounts to be collected23,098 
Less: interest(1,025)
Less: allowance for expected credit losses(2,098)
Total finance receivables$19,975