Fully automate the transaction processing
The General Ledger Module supports front office with back office integration and data compliance with continuous consolidation of data results and up-to-date transaction processing, with flexible configuration set-up of the chart of accounts, new account definitions, receivables or payables account management, account dimensions, activation/deactivation of accounts, account limitations, and accounts for accrual booking with automatic matching of accruals as the periodic due date matures.
The automated processing of transactions optimizes the process workflow and minimizes manual intervention while working with accounting data. The transaction preview operation provides high level control of postings and analysis of results before actual transaction realization and booking into the General Ledger. Besides automatic, the module supports manual postings of transactions on Bank Statements and matching on predefined accounts.
Transactions can be posted individually or for better time management procedures, in bulk files. The postings can be matched according to matching priority rules that the client requires, in that manner the system can be adapted to match the penalty, interest, principal and any other expense in any order needed.
The module supports flexible adaptation of regulatory changes which assures on time response to new issues as they arise and high business compliance. With consolidated accounting, the processed data is automatically viewable in reports and can be used for further analysis of analytic and synthetic data reports, including Standard Financial Reporting (Trial Balance, Income Statement, Balance Sheet, Audit Reports, etc.) and Dynamic Report Generator for ongoing definition and adaptation of reports based on changing client needs.
The flexibility of the module is incorporated in the option for file format adaptation and import of external bank files in the system, with direct transaction allocation on matching accounts in General Ledger.
Integrated AccountingPreserve accounting control from a central location with integrated process workflow that ensures scalable managing of growing portfolio volumes.
Automated MatchingOptimize accounting workflow procedures and minimize risks of manual errors with automated transaction posting and matching on predefined posting schemas.
Dynamic Regulatory RulesInclude sustainable accounting principles and flexibility of process rules, ensuring consistency with regulatory changes at any moment.
High Transaction ControlStrengthen the financial control and assure high data security over booked transactions with automated actions and closing of posting period in order to limit any possibility for data misuse at any organizational level.
Consolidated ReportingImprove the decision-making processes and mitigate any financial risks, with accurate report analyses that provide detailed information and real time preview of customer’s repayment status and debts, operational performance results and portfolio size, at any moment.
Auditable Business ProcessesKeep security-relevant information and chronological record of all system activities, in order to be capable to react quickly to discrepancies and errors, with strict control mechanisms and integrated Log Audit Trail System.
Enhanced Operational EfficiencyIncrease the visibility into operations that yield the highest ROI and improve the performance results, based on structured financial reports that provide relevant information about repayment frequencies and business trends analyses, for better planning of the operational development.