Commercial Accountant®, a fully integrated system, provides automated accounting for the transfer of funds between clearing accounts and custodial and company accounts as well as bank account reconciliations.
Commercial Accountant® also produces a file for automatic general ledger posting and ACH distribution. Commercial Accountant® automates investor remittances including advance/recovery of P&I and T&I. 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 accounting for funds movement between 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
To learn more about how Commercial Accountant can improve your bottom line, contact us at 972.458.8583 or Info@FICS.com to schedule a free demo.