Book Accounting
Comprehensive reporting is available for overall
current portfolio balances via the Trial Balance Report.
You will also find a variety of income and cash projection reports within
the Loan Accounting and Management System to assist you in planning for the
future.
The Loan Accounting and Management System provides book accounting entries for
your loans from loan initiation to loan payoff.
Your initial accounting entries and subsequent daily and/or monthly
accrual entries are recorded and reported according to Generally Accepted
Accounting Principles (GAAP) for loan accounting.
Accounting entries are made simple by the numerous options that are
available to tailor receipts and disbursements to your individual requirements.
Entry of your basic loan information is all that is needed to generate accurate
accounting entries that will ensure accurate income and expense figures
throughout the life of the loan. We
offer both simple interest and pre-computed interest accounting
methods.
The internal general ledger makes
transaction processing a breeze. Accounting
entries generated by each transaction processed are transparent to the user,
which minimizes the chance of accounting errors.
Any transaction can be easily reversed including a complete reversal of
all transactions associated with the loan at any point during the term of the
loan.