FMS General Ledger was designed by bankers, CPAs, and information systems professionals to address the unique accounting requirements of financial institutions. It supports a large detailed chart of accounts, performs a daily closing cycle, maintains average daily balances for all reporting periods, and integrates “bank unique” subsidiary ledgers.
Automation: The system maintains an extensive on-line account balance and transaction activity database. Month-end account balance data is stored on-line for at least 60 months and account transactions are stored on-line for at least 36 months. Plus, you can review account transactions posted over the entire history period for which transactions have been retain.
Responsibility Center Control: The General Ledger master record contains account number, account description, balance, account type, and control data for all asset, liability, capital, income, and expense accounts. The account number is a "free-form" ten digit number, and, if you use Responsibility Center reporting, a “RC” number of up to 5 digits may be appended to the GL account number so reporting is available at the RC level. This flexibility enables easy adaptation to your current account numbering structure.
Analysis: FMS' General Ledger incorporates an easy to use report generator that enables customers to define their own unique portfolio of financial statements, management analyses, and regulatory reports. Once the day’s work has been entered and proved, financial reports are available for display or print.Core System GL Transaction Interface: Transactions processed through or by the data center can be imported into FMS General Ledger using preset import formats. This interface eliminates the practice of work re-entry, speeds daily transaction posting and increases staff productivity. Not just limited to a data center interface, this module can import transactions generated from any external source and create a posting file to be used by FMS General Ledger .
Budget and Planning: FMS General Ledger improves profit control by maintaining detailed account budgets for all balance sheet, income statement, and statistical accounts. Budgeting can be implemented at the detailed RC level with summary reporting at the branch, region, division, and department levels. It is easy to create new budgets or modify existing ones.
Budgeted amounts can be entered month-by-month, as a single amount for the quarter, or as a single amount for the year. Budgets can be created from any historical budget or actual balance maintained within the system. A complete set of budgeting and variance analysis reports are supplied.