Accounting
Achieve unparalleled financial clarity and control with eBanqr’s integrated Accounting module. Built directly into the core banking system, it ensures every transaction—from loans and deposits to fees and expenses—is accurately recorded and reconciled in real-time. Say goodbye to manual reconciliations and disparate systems, and embrace a unified, compliant financial management solution.
Integrated Accounting for Financial Clarity and Control
Benefits:
- Real-time financial visibility and accurate reporting.
- Reduced manual data entry and reconciliation errors.
- Improved compliance with accounting standards.
- Streamlined audit processes.
- Better financial planning and decision-making.
Accounting Features
- Comprehensive General Ledger (GL) Capabilities:
- Configurable Chart of Accounts (COA): Standard COA provided, fully customizable to meet specific organizational requirements.
- Full GL Support: Integrated with the portfolio for automated, rule-based postings, maintaining a single COA across the institution.
- Manual Journal Entries: Allows creation of manual journal entries for any GL account, including compound and single vouchers, enabling standalone accounting package functionality.
- Opening Balances Migration: Streamlined migration of opening balances.
- End of Period Closings: Configurable and schedulable accounting closure periods to prevent further transactions until reconciliations are complete.
- Automated Portfolio Integration: Automatically posts transactions from portfolio accounts (loans, savings) directly to corresponding General Ledger (GL) accounts, ensuring up-to-date financial accounting.
- Real-time Financial Visibility: Eliminates manual reconciliation, providing immediate and accurate insight into the institution’s financial position for informed strategic decision-making.
- Accounting Methodologies: Supports both cash and accrual accounting, including upfront and point-in-time accrual, accommodating diverse financial reporting standards.
- Advanced Accounting Rules: Configurable rules for precise mapping of transactions by payment types and allocation of fees/penalties to distinct income accounts.
- Financial Mappings: Robust financial accounting module with configurable financial mappings via a graphical user interface.
- Frequent Postings: Automates recurring journal entries (e.g., payroll, rent) to enhance data integrity and operational efficiency.
- Adaptable Accounting Framework: Versatility in supporting cash and accrual methods, combined with configurable COA and advanced accounting rules, ensures compliance with various national/international standards and precise financial reporting.
- Enhanced Auditability: Clear, rule-based postings and configurable COA significantly enhance the auditability of financial records, crucial for regulatory scrutiny and robust internal governance.
