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Group of programs: Business automation

Software USU

Accounting of interest on loans in a bank

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  Who is the developer?

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The accounting of interest on loans in the bank, organized in the USU Software, can be considered from two sides - interest represents the bank's income for providing loans and, accordingly, they are recorded as bank interest payment to the bank for the use of loans and their accounting are kept as expenses of the enterprise that received these loans from the bank. Interest on bank loans can be accounted for in two ways - the software works both for the bank that issues loans and for the company that uses bank loans. The automated accounting system is universal and to ensure that its functionality carries out accounting of any of the parties, it is configured according to the individual needs of the organization: accounting of interest as income from banking or accounting of interest as an expense on a loan issued by a bank. In any of these cases, the software of accounting of interest on loans in a bank keeps records of bank interest since issued loans provide for the accrual of interest by the bank as payment of the loan.

Their accounting differs only in the distribution of funds to different accounts of the bank and the enterprise. The interest that the bank receives on loans issued is the main item of its income on interest. This income is attributed to income from banking operations and other transactions of the bank. The amount of interest is determined by the bank itself, personally for each client, which is necessarily fixed in the banking agreement, although, there are situations when interest is increased or reduced. The purposes for which the loans were issued are important since they determine the rules of reflecting interest, while the bank has the right to control the intended use of the funds received.

Who is the developer?

Accounting of interest on loans and related banking operations is organized in the loan database, which contains all loan applications from different customers. The ‘device’ of the base is quite convenient. In the upper half of the screen, there is a general list of loans, in the lower half, there is a tab bar with a detailed presentation of all data on the selected loan, including banking transactions that have already been made on it. Bookmarks have names that speak directly about their content, the transition between them is in one click, so you can quickly get any help from the history of each bank loan. At the same time, each application is assigned a status, which, in turn, is assigned a colour. It is convenient to visually control the current state of the loan - timely payment or delay, accrual of penalties, and debt repayment.

This is the task of the software - to make the work of users operational and low-cost in terms of time and effort, in order to have time to complete much more than with traditional accounting. Therefore, automation improves the efficiency of both the enterprise and the financial institution by adding high-speed information exchange, which is its main function. The operations performed by it take a fraction of a second, so we can say that everyone already knows about any changes at the moment when they are made. For example, a repayment was carried out on a loan application, as soon as the money was received at the cashier's office or on the current account, the program immediately changes its status in the loan database, and all employees involved in it see a colour change confirming this banking operation. There is no need to open any document or investigate the registers - the reflection of the action is obvious. The change in colour occurred with a change in status and that change based on the information received on the loan about the payment, which, in turn, was noted in the register of financial transactions, where the data came from the cashier's working form at the time of receipt of funds. This is approximately how information exchange and accounting occur if you roughly imagine the data distribution scheme.

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When starting the program, you can select the language.

Who is the translator?

To ensure the convenient and efficient work of users, unified electronic forms have been introduced, which means that, despite the different content of the forms, they have the same filling standard and information distribution structure, the same tools to manage it, which, by the way, consist of contextual search - from any cell, multiple grouping by sequential criteria, or filter by the selected value. The combination of these three data management functions allows you to perform any complex operation to obtain the necessary information and accurately sample values. The above-described structure of the loan base has all the databases generated by the bank software to maintain an accounting of interaction with the client, accounting of inventory items, and accounting of documents, which the software automatically generates by the specified date.

Documents are confirmation of all operations performed and can be stored electronically or printed on demand. Their automatic compilation eliminates the likelihood of errors that occur when manually filling in and the design meets all the requirements and purpose. The automatically generated documentation includes the entire document flow of the bank institution, considering the timing of the submission of each document, including financial statements. The program of accounting of interest on a loan includes a set of templates for the formation of a document of any purpose, which can be issued with a logo and details. The formats correspond to the approved ones. The auto-complete function is directly related to the automatically generated documentation, which actively works with all the data, pointwise selecting the required ones. The program maintains electronic document circulation, registers documents independently, generates electronic registers, controls return, compiles archives by headings. Users can collaborate on any document without data retention conflicts since the multi-user interface eliminates sharing problems.

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Accounting of interest on loans in a bank