Loscam Negative Balances

Don’t Lose Your Balance

If you see a negative closing balance on your invoice and then Loscam remove it from your account the following month you will see a transaction at the end of the invoice saying “To Loscam Limited“.

Loscam say that if the credit closing balance increases in the second month then the closing credit balance from the previous month will be suspended. CHEP leave the credit balance to work automatically for a 3 month period.  This means that CHEP equipment can move in and out of credit without human intervention.

With CHEP and Loscam If you don’t take action then you will lose the equipment.

The action that needs to be taken is to get your closing balance above 0.  One way to do this is to process transfers on to your account.  These transfers need to be dated on or before your account went into credit.  If you find that some of your trading partners have not put their transfers on to your account then get in touch with them.  They will appreciate it and it could avoid claims from them in the future.