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.
- 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
- 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
- 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.
- 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.