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ACCOUNTS RECEIVABLE | 12 Months Ended
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Jun. 30, 2023
Receivables [Abstract] |
ACCOUNTS RECEIVABLE | ACCOUNTS RECEIVABLE Accounts receivable primarily include amounts due to the Company for sales of equipment and subscription fees, settlement receivables for amounts due from third-party payment processors, receivables from contract manufacturers and unbilled amounts due from customers, net of the allowance for credit losses. Accounts receivable, net of the allowance for uncollectible accounts were $30.2 million as of June 30, 2023 and $37.7 million as of June 30, 2022. Concentrations Accounts receivable with the Company's largest customer represented 1% and 17% of accounts receivable, net of allowance as of June 30, 2023 and June 30, 2022 respectively. The decrease resulted from the Company's prioritization of collection effort during the year. Allowance for credit losses The Company maintains an allowance for credit losses resulting from the inability of its customers to make required payments, including from a shortfall in the customer transaction fund flow from which the Company would normally collect amounts due. The allowance is calculated under an expected loss model. We estimate our allowance using an aging analysis (days past due status) of the 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 receivable balances against the allowance for credit losses when management determines the balance is uncollectible and the Company ceases collection efforts. For the year ended June 30, 2023, the write-offs included approximately $1.1 million aged trade accounts receivable balances from 2020 and prior that were deemed uncollectible. The following table represents a rollforward of the allowance for credit losses for the years ending June 30, 2023 and 2022:
|  | Year ended June 30,
($ in thousands) |  | 2023 |  | 2022
Balance, beginning of period |  | $ | 9,328 |  |  | $ | 7,715 |
Provision for expected losses |  | 4,190 |  |  | 3,435 |
Write-offs |  | (2,703) |  |  | (1,822) |
Balance, end of period |  | $ | 10,815 |  |  | $ | 9,328 |

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- Definition The entire disclosure for accounts receivable, contract receivable, receivable held-for-sale, and nontrade receivable. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 310 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//310/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 326 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//326/tableOfContent + Details
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- References No definition available. + Details
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