Boost your productivity by adding on the optional Commercial Accountant module. Commercial Accountant provides automated movement of all your funds from a payment clearing account into appropriate P&I and T&I custodial accounts and company accounts. Funds are also automatically transferred from appropriate custodial accounts into a disbursement clearing account making all your disbursements from a single bank account simple and easy. The movement of funds is recorded daily so that you have a complete cash book balance showing funds moving into and out of each account. A detailed distribution definition tool allows you to move your funds virtually any way you desire.
Commercial Accountant keeps a detailed chart of accounts and provides the ability to upload the summary of those accounts to your general ledger system. A customized interface into your general ledger eliminates the need for any manual posting.
For companies servicing scheduled principal and/or interest investor loans, Commercial Accountant provides automatic advance/recovery features moving the advances from corporate offset account and then recovering the money back into the corporate account once the funds are collected.
Commercial Accountant also provides advance/recovery automation for tax and insurance funds.
Various remittance options for investor funds include ACH, check, wire or investor drafting. Customize remittance cycles and remittance amount thresholds per investor requirements.
Numerous reports including trial balances, distribution and movement of funds, account activity, bank transfer and general ledger reports assist your accounting department with balancing and reconciliation.
Bank account reconciliation tools provides you with a method of reconciling your bank accounts set up on Commercial Accountant to the bank account statements you receive from the depository.
- Automatic funds movement from and to payment and disbursement clearing account
- ACH file creation or wire transfer advice options for funds movement
- Automatic advance/recovery of P&I and T&I
- General ledger interface
- Cash book balancing
- Bank account reconciliation