New accounting

Accounting is the systematic recording, reporting, and analysis of financial transactions of a business. An accountant is in charge of accounting and follows a set of rules and regulations such as the GAAP (Generally Accepted Accounting Principles). Accounting allows a company to analyze the financial performance of the business and look at statistics such as net profit.

You can use the Accounting module to:

• Create General Ledger accounts and define the Chart of Accounts.

• Link the General Ledgers to the loan products and automate Asset Product Accounting.

• Link the General Ledgers to the different fees and automate Fee Accounting.

• Link the General Ledgers to the different Tellers and automate Teller Accounting.

• Link the General Ledgers at the branch level and automate check clearance, suspension of loan accounts and write-offs.

• Post internal transfer entries between General Ledger accounts and maintain your Book of Accounts for all internal accounting transactions such as petty cash expenses and fixed assets booking.