Financial Business Intelligence and Accounting Software Functionality for Managing Loans, Mortgages and Lease Products
Accounting General Ledger and Sub-Ledgers
ARMnet Integrated Banking Software has its own internal General Ledger/Chart of Accounts. The financial transactions can be configured to automatically update the appropriate Genral Ledger accounts as required. This process can also be configured so that the end user need have no knowledge of accounting, yet transactions can be properly recorded. The end result is the elimination of double bookkeeping in the process.
ARMnet Integrated Banking & Financial Product Management Software can meet the needs of single institutions or ones managing multiple company environments and each company can have a separate General Ledger. The firms can also be multijuristictional running multiple currencies allowing the parent firm to hedge to their core currency and also record sales and service data in any currency they desire. Through the use of sub-ledgers within the system any number of combinations can be easily achieved.
- Financial transactions can be generic (i.e. they can be a single transaction to cater for a loan advance but this transaction can check and confirm which lender is funding the loan and update the General Ledger associated with that lender).
- Transactions can also be split across multiple Genral Ledger's.
ARMnet Integrated Banking Software in many instances also passes data to external General Ledger's (i.e. Finance One, Sun Financial Systems, MS GP Dynamics, SAP, QuickBooks, SAGE 50). In these cases the General Ledger data can be exported to the accounting system either as a batch process export or via web services.
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