Integrated General Ledger
The Loan Accounting and Management System has a comprehensive internal general ledger system for all of your loan related transactions.
The internal general ledger is completely transparent to the user, which minimizes accounting errors and data entry. No more AJE’s to correct transactions applied to the incorrect general ledger accounts! For
example, when a payment is posted, you simply enter the payment amount, check number, processing date and click “process”. The payment will be accepted and distributed to all current charges due or the operator is given the opportunity to distribute the payment to outstanding loan payments due, sales tax, late charges, etc. All accounting entries are generated behind the scenes to a pre-defined set of general ledger accounts and the payment is instantaneously recorded throughout the Loan Accounting and Management System. This is true for all loan related transactions, ranging from the posting of payments to loan payoffs.
An export/interface process is included with your internal general ledger system so you can easily move your loan transactions to your own corporate accounting package. You can assign each account your corporate general ledger account number and then interface to well known accounting packages such as MAS90, Quick Books, Solomon, or Peach Tree. If you use an accounting package other than the ones listed, we can provide you with an interface to it if it has data import capabilities. Simply provide us with the required fields and format for import.
You can interface the detail of each loan transaction, or just a summary of transactions by general ledger account. By interfacing to your corporate general ledger system you will have access to up-to-the minute financial statements when you need them.