The chart of account can be predefined based on client business needs and managed from user side with options for opening new accounts and adjustment of account definitions, (receivables or payables-accounts, account dimensions, activation/deactivation of accounts, setting limitations etc.). The module also supports possibility for defining accounts for accrual booking with automatic matching of accruals as the periodic due date matures.
Transactions are automatically posted in General Ledger and matched on predefined accounts according to matching priority. The matching priority rules can be defined in correspondence with client business needs (for e.g. the system can be adapted to match first the oldest penalty, interest, principal, then second oldest penalty, interest, principal, etc.; or total oldest penalty, then total oldest interest and total oldest principal; or any other priority path that the client follows).
The module has an option for transaction preview before posting in General Ledger that provides an insight into the posting outcomes and better posting control.
With the option for uploading external bank files, whole bank statements can be imported into the system and directly allocated on corresponding accounts in General Ledger. The module can be adapted to handle the required file format as provided from the bank.
The module supports generation of Bank Statements and manual posting of transactions directly in General Ledger.
Transactions can be processed in a bulk and concurrently posted in General Ledger by simply selecting the transaction rows and activating the posting process. All postings are instantly visible in reports, displayed in chronological order.
The Standard Financial Reporting (Trial Balance, Income Statement, Balance Sheet, Audit Reports, etc.) is complemented with Dynamic Report Generator which supports definition and adaptation of the reports based on the reporting requirements of the client.
The consolidation among corporate departments and processing of complex financial analyses requires only several clicks and results are automatically viewable in reports. The organization of the data is designed in a way that the generation of the analytic and synthetic management reports is fast and in-time.
Centralized Accounting Streamline accounting operations and avoid redundant steps with automatic postings of transactions that eliminate double entries and manual work by increasing Accounting Officer’s efficiency, in one centralized accounting system.
Manual vs. Automated Postings Use combination of manual and automatic posting possibility, in dependence of your needs and experience the benefits of creating manual journal entries with preview based posting controls as well as automated front office postings, matched on predefined posting schemas.
Flexible Accounting Rules Keep control over your accounting and flexibly define limitation rules, analytic and synthetic accounts with consistent and flexible categories for Assets, Liabilities, Equity, Income and Expenses and posting controlling mechanisms.
Enhanced Financial Control Eliminate the risk of transactions inaccuracy with automatic and manual closing of posting periods in General Ledger. This option strengthens your financial control over all accounts by declining any attempt to post or modify transactions in closed period.
Real-time Financial Reporting Make your decisions based on accurate analyses, generate up-to-date reports and have a real time preview of borrower’s debts at any moment, with automated transaction processing, and tracking accounts analytically in General Ledger with possibilities for dynamic dimensioning.
Controlled Auditability Maintain clear insights into what, by whom and when some forms are opened, viewed, altered and be able to quickly react and repair errors with strict control mechanisms and use the Log Audit Trail System.
Increased Performance Visibility Achieve operational and financial efficiency by better tracking performance results through structured financial reports which provide you with accurate information about loan repayment frequencies and allow you to perform analyses of business trends, payment planning, portfolio quality, based on which the Top Management will be able to find solutions and react on time.