Accounting

The Loan Accounting and Management System provides 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.

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.