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Group of programs: Business automation
Accounting for interest on deposits
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Individuals or companies invest their funds in deposits, a certain amount of dividend securities, and if there are several such areas in investments, it becomes not so easy to keep records of interest on deposits. In the case of financial contributions in various organizations, it is required not only to correctly control interest but also to correctly reflect this in the documentation. Investments and dividends on them may vary depending on the timing, the one-time deposit of funds or monthly replenishment need, the form of investment. To register the purchase of securities and endowment finance in bank deposits, the accounting department must maintain different entries, which carries an additional burden in addition to the main activity. So, the reflection in the accounting of the deposits document is a ‘bank deposits or deposits agreement’, while it is necessary to highlight the type, term, and percentage of charges, with the calculation rules. To accounting, the deposits' interest refers to financial investments, thus, should be accepted on the balance sheet at the initial cost, which is equal to the amount credited to the account. Analytical control over bank deposits is divided depending on the number of contracts and forms of the endowment. You should also maintain separate documentary forms under the terms of deposits' agreements since there are options with capitalization and without capitalization of interest. The calculation of dividends is carried out separately and is determined by the actual rate, while different formulas must be used. At the same time, specialists need to correctly display the received income in tax and financial statements. It is necessary to adhere to the accounting policy of the enterprise to reflect in all the rules the investment profit. But there is a way to significantly facilitate the work of specialists, their interest, and to lead to a unified accounting investments procedure, to purchase specialized software. Automation helps to perform most operations without human intervention, using customized algorithms and formulas, which significantly reduce time and labor costs, increase deposits interest.
Who is the developer?
Akulov Nikolay
Expert and chief programmer who participated in the design and development of this software.
2024-05-25
Video of accounting for interest on deposits
One of these programs is the USU Software system, a unique configuration that combines functionality and interfaces flexibility. This development is the result of the work of a team of highly qualified specialists, while the latest developments and technologies were used to ensure that the project being implemented would satisfy all the needs and interest of the customer. The platform consists of three modules that are responsible for different tasks, but also have a common structure of internal content and interact with each other to effectively resolve all issues. The USU Software program is installed on work computers, without special system content and power requirements. For implementation, it is necessary to provide specialists with direct or remote access to computers. Training can also be carried out via the Internet, which is very convenient for foreign companies. Training means conducting a short briefing to users, explaining the menu structure and the purpose of the main functions, which take several hours. The simplicity of the interface design allows using the application, regardless of their knowledge and experience. The simplicity of navigation and information retrieval make the transition to the new format even faster and more comfortable. According to accounting calculations, including interest on deposits, the formulas set up in the base are used, which eliminates errors in the results and their design. Employees only have to enter the information obtained in the course of work on time, the rest of the processes are taken over by the software. But before starting the active accounting operation of the software, the reference bases are filled in. To speed up this accounting operation, there is an import option, while maintaining the internal structure of deposits' documents.
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The interest on deposits accounting software platform implies the creation of each employee separate workspace, where individual entering information electronic forms are prescribed, increasing responsibility for the quality performance of work. Due to the separation of responsibilities, the reliability of information increases, since each entry is registered under the user's login, making it easier for managers to find the author and control the work of staff. To comply with calculating the percentage of investment standards in the application, a regulatory, reference base is built-in, containing provisions and regulations under current legislation and standards. If it is necessary to calculate the interest on the deposits, it is enough to select the appropriate parameters, while the rules of financial regulators are taken into account. The accompanying documentation is formed according to the samples included in the base, which have passed preliminary approval. Automation of document flow affects not only those forms that are related to endowment and endowment of funds in circulation but also any other documentation that is related to the conduct of accounting activities in the organization. Employees just need to select the required form and check the correctness of filling in the lines, if necessary, enter the data where they are lacking. To the most part, filling out takes place by choosing the appropriate option from the drop-down menu, which significantly reduces preparing the accompanying documentation time. Inspection bodies are not able to find criticism reasons, since all office work complies with norms and standards. You can also set up the automatic placement of login, details on each letterhead, which help create a unified format and corporate style. In addition to the preparation of documents, the system generates reports with a set frequency, both for management and regulatory authorities.
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Accounting for interest on deposits
Our investment control development is a useful acquisition both for those who invest their fund, banks, and investor companies. The versatility of the platform is achieved through an individual approach to settings, taking into account the specifics of the company where it is implemented. You receive a set of effective tools to control not only the investment of funds but also other aspects of the company. To start automatic operations, you can use the task scheduler with a customized schedule. You can check the quality of employees' work through accounting, auditing, and drawing up appropriate reports, so control over the organization becomes much easier for business owners. The accounting system has a comfortable and easy-to-learn interface, the creation of which took into account the experience of real users and their wishes.
The USU Software does not impose restrictions on the amount of information, the number of users, and departments united in a common workspace. Different categories of employees are assigned different access rights to data and functions, this is required to protect the confidential information of the enterprise. Depending on the job description, the specialist owns the data and options, adjusting their order in their account. Most of the routine, manual processes go into automation mode, while certain calculations and preparation of documentation algorithms are used. Templates and samples of documents are configured following the requirements and standards of the country's legislation, but they can also be downloaded in finished form on the Internet. Individual logins and entering the application passwords are issued only to registered users, so outsiders not able to enter the program. Additional protection the automatic blocking of employee accounts during their long absence from the workplace. Specialists able to work on projects without the conflict of saving information, this is facilitated by a multi-user interface, which also helps not to lose the speed of operations. The general activity of the branches of the enterprise is achieved through the formation of a single information space, working through the Internet connection. All calculations on deposits are made automatically, including the calculation of interest, with the formation of the required documents. At the time specified in the planner, the software creates the required forms and reports, they can be sent to print in a few clicks. It is not a problem to raise the investment history, since the program stores the archive for an unlimited time, and provides a context searching menu. The information obtained during the search can be filtered, sorted, and grouped according to various parameters to organize it for specific tasks. In reference databases, you can attach documentation, scanned copies of papers, contracts, or images to any record. Thanks to the regular analysis of the company's activities, the quality of management improves, the financial aspects come to the required optimization, reducing costs and increasing the revenue side.