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FINANCE RECEIVABLES | 12 Months Ended
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Jun. 30, 2019
Receivables [Abstract] |
FINANCE RECEIVABLES | FINANCE RECEIVABLES The Company’s finance receivables consist of financed devices under the QuickStart program and Cantaloupe 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, 2019 and 2018, finance receivables consist of the following:
| As of June 30,
($ in thousands) | 2019 |  | 2018
Finance receivables, net | $ | 6,260 |  |  | $ | 4,603 |
Finance receivables due after one year, net | 11,596 |  |  | 13,246 |
Total finance receivables, net of allowance of $606 and $12, respectively | $ | 17,856 |  |  | $ | 17,849 |
The Company routinely evaluates outstanding finance receivables for impairment based on past due balances or accounts otherwise determined to be at a higher risk of loss. The Company reserves for its nonperforming finance receivables. A finance receivable is classified as nonperforming if it is considered probable the Company will be unable to collect all contractual interest and principal payments as scheduled. At June 30, 2019 and 2018, credit quality indicators consisted of the following:
| As of June 30,
($ in thousands) | 2019 |  | 2018
Performing | $ | 17,856 |  |  | $ | 17,849 |
Nonperforming | 606 |  |  | 12 |
Gross finance receivables | $ | 18,462 |  |  | $ | 17,861 |
An aged analysis of the Company's finance receivables as of June 30, 2019 and 2018 is as follows:
| As of June 30,
($ in thousands) | 2019 |  | 2018
Current | $ | 17,506 |  |  | $ | 17,609 |
30 days and under past due | 200 |  |  | 56 |
31 - 60 days past due | 43 |  |  | 7 |
61 - 90 days past due | 145 |  |  | 56 |
Greater than 90 days past due | 568 |  |  | 133 |
Total finance receivables | $ | 18,462 |  |  | $ | 17,861 |
Finance receivables due for each of the fiscal years following June 30, 2019 are as follows:
($ in thousands) |
2020 | $ | 6,584 |
2021 | 4,041 |
2022 | 3,833 |
2023 | 2,635 |
2024 | 1,133 |
Thereafter | 236 |
Total | $ | 18,462 |
Sale of Finance Receivables The Company accounts for transfers of finance receivables as sales when it has surrendered control over the related assets. Whether control has been relinquished requires, among other things, an evaluation of relevant legal considerations and an assessment of the nature and extent of the Company’s continuing involvement with the assets transferred. During fiscal year 2018, the Company transferred certain groups of finance receivables with no recourse to third-party financing entities for approximately $2.3 million. The transfers were accounted for as sales with derecognition of the associated finance receivables. Gains and losses stemming from such transfers are immaterial. Transfers of finance receivables that do not qualify for sale accounting are reported as collateralized borrowings. Accordingly, the related assets remain on the Company’s balance sheet and continue to be reported and accounted for as if the transfer had not occurred. Cash proceeds from these transfers are reported as financing obligations (debt), with attributable interest expense recognized over the life of the related transactions. During December 2017, the Company transferred certain groups of finance receivables to third-party financing entities for approximately $1.1 million. Such transfers are subject to recourse provisions for the first 3 months after the date of transfer, after which the recourse provisions expire. Accordingly, the related finance receivables remained on the balance sheet at December 31, 2017 and the cash proceeds of approximately $1.1 million were reported as financing obligations at December 31, 2017. During March 2018, the recourse provisions expired resulting in the finance receivables and financing obligations being derecognized.

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- Definition The entire disclosure for financing receivable. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -URI http://asc.fasb.org/subtopic&trid=2196772 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2196816 + Details
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