The Loan Accountant® module provides automated accounting for the transfer of funds for individual closing cost line items between clearing accounts and company accounts, including general ledger accounts.
The movement of funds is recorded daily so you have a complete history of fund activity for fee tracking or accounts payable reconciliations. A detailed distribution definition tool allows you to move your funds virtually any way you desire, based on your closing cost plan and specific closing cost line items. This can provide for an automated way to book fees to accounts receivable to cover paid items, to accounts payable to offset corresponding vendor invoices, or directly to income or expense accounts.
To learn more about how Loan Accountant can improve your bottom line, contact us at 972.458.8583 or Info@FICS.com to schedule a free demo.