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i-POWER® Accounting Suite

The i-POWER® Accounting Suite is fully integrated into the core system and offers credit unions a solid accounting platform including General Ledger, Fixed Assets, Accounts Payable, Official Check Reconciliation, Budgeting and Recurring Entries without the additional cost of a third party application.

General Ledger

  • Credit union defined separation and consolidation of general ledger data
  • Easy to establish new general ledger accounts
  • GL account classification parameters for new account opening
  • Two accounting periods open at the same time
  • On demand financial statements in pdf or Excel format with credit union defined sub-totals and ability to archive
  • Easy to establish and change GL financial statement parameters online
  • Credit union defined general ledger transaction templates allow for virtually unlimited debits and credits
  • Memo Post feature displays GL entries on History and On Demand reports prior to overnight posting/reconciliation process
  • Enhanced history to search by date, entry amount, account ranges and comparison of net activity this year by month to last year by month

Recurring Journal Entries

  • Supports both fixed payment  schedule and payment schedule automated entries

Fixed Assets

  • Easy set up of fixed assets include calculation of entry amounts for automated posting on selected schedule
  • Support straight line depreciation with full and partial disposal  functions
  • On-demand reports include:
    • Schedule of Fixed Assets for assets both Currently Being Depreciated and those Fully Depreciated
    • Disposed Assets for Current Year and for Prior Year
    • Fixed Assets by Asset Type and by Disposal Method

Accounts Payable

  • Easy to set up and track Vendors including vendor transaction history and invoices due by vendor.
  • Option to create system generated 1099’s by Vendor.
  • Integrated with i-POWER® core check reconciliation system.
  • Pre-defined invoice templates and view invoices due by due date.

Budgeting

  • Create new budget based upon Zero Budget, Last Year’s Budget, Current Year Budget, Monthly Net Activity Current Year or Monthly Net Activity Prior Year and apply percentage increase or decrease.
  • Statement of Income and Expense and Statement of Financial Condition with Budget Comparisons.

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