Keeping a detailed log of all your financial processes can be a cumbersome and time-consuming process. An efficient General Ledger system offers a complete solution for all your expense tracking, reporting needs, budgeting demands, plus so much more. At BMA, we are proud to provide you with a comprehensive and robust General Ledger solution that fits your company’s needs.
Ledger Systems Integrations
BMA’s General Ledger solution seamlessly integrates with the rest of the BankRite Touch software, making it easy to integrate with all other applications/products. Integrations allow for automatic entries of:
- Expense tracking
- Income tracking
- Loan principal balances
- Accruing interest
- Interest income and expenses
- Fee income
- Insurance
- Service charges
- Call reporting
- Participation budgeting
- Budget entry and maintenance
- Reconciliation and balancing
- and many other features
With General Ledger systems in banking, all your processes become easier, more efficient, and more accurate.
BMA Capabilities: General Ledger in Banking
When you work with us for your General Ledger solutions, here are a few things our ledger systems can help you with.
Transactions
You can easily monitor all incoming and outgoing transactions through BMA’s General Ledger solutions. You can source these transactions through paper MICR, internally online, incoming/outgoing ACH, automated journal entry, or by uploading a file from another source. If needed, you can also backdate transactions to a previous fiscal period to ensure accurate, complete financial reporting.
Budgeting
Budgeting financial resources are vital for every business to run effectively. You can create a single transaction, or daily, monthly, quarterly, or even annual budgets to always keep your company’s expense tracking in check. Additionally, the General Ledger system has the added feature of saving budgets from year to year, helping you monitor historical changes.
Reconciliation
Balancing and reconciling financial records need not be stressful. With the BMA account reconciliation software, you get a built-in report reconciliation feature that keeps you informed of all balanced and unbalanced accounts in your system.
Reporting
It is critical that management always understand the financial status of their company. With the General Ledger reporting system, you get custom, comprehensive reports that can be reviewed at any time by teams, management, and board members. There are literally hundreds of financial reports, such as:
- Daily transaction journals
- Detailed trial balances
- Financial statements
- Assets and liability
- Key ratios
- Monthly average balance
- Comparative financials
- Budget financials
- Gap analysis
- Transaction summary
- Call reports
- Asset liability
All your reports are automatically archived once they are run. This allows you to review them electronically or print them as needed. They are on demand in an inclusive, integrated environment and stored safely in the ledger systems.
Training
The General Ledger systems have a built-in training program available for all users. Through the BankRite Touch Help Desk, users can access a variety of online training courses, including detailed procedures for the assessment, use, and creation of reports. Additionally, individual online training is available through your BMA Account Executive.
Customization
Our General Ledger solutions can be tailored to a company’s specific needs, ensuring the ledger systems are truly helpful. Customization options can include features like unique journal entries, different charts of accounts, and individualized reports.
Accuracy
Ledger systems automate accounting processes, creating more accurate information since the risk of manual errors is minimized. This automation also increases efficiency because it takes less time to balance and close the books at the end of every month.
Work With BMA
Building confidence in your accounting skills is easy with BMA’s General Leger solutions. As a company, you can choose who has security access to access the general ledger technology in a safe, secure, and backed-up environment.
Contact us today to get started.
General Ledger Systems Frequently Asked Questions
What is a General Ledger system, and how does it work?
A General Ledger solution is a software application for automatically recording business financial transactions, including purchases, sales, and other transactions. The information can be categorized into different accounts, such as assets, liabilities, and equity, to create a complete, accurate record of a company’s financials.
What are the benefits of using General Ledger solutions?
There are several benefits to using General Ledger systems, including increased efficiency and accuracy, streamlined accounting processes, and improved accounting regulations compliance.
How do I choose the right General Ledger system for my organization?
The right General Ledger solutions for your company depend on several factors, including your company’s size, complexity, and budget. You’ll also need to consider if the system is customizable, can integrate with other systems, has excellent reporting capabilities, and is easy to use.
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