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.