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Operating system: Windows, Android, macOS
Group of programs: Business automation

Software USU

Accounting of loan commission

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Loan commission accounting in the USU Software is carried out in the same way as in traditional accounting, the only thing is that the commission charged for the loan is determined on the corresponding account not by the accounting staff, but by the automated accounting system as soon as the commission is ready to receive. When applying for a loan, there are several types of commissions that make up additional costs to obtain loans, including one-time. So, one-time commissions can include a payment for the fact that a loan has been opened. Regular commissions include commissions of settlement periods, including interest on the use of a loan and its unused part, for operations on an account that was opened for a loan. This article does not aim to list all the fees that may be charged by the bank when servicing a loan, its task is to show what advantages the organization receives when the accounting of a one-time loan commission will be automated, as, indeed, all other types of accounting.

The lump-sum commission upon receipt of a loan is determined by the bank, therefore, its value enters the system from any of the users. This is the primary information loaded through a special input form in order to link the lump-sum commission with the loan that provided it, and the corresponding account, since the work of the accounting system is based precisely on the interconnectedness of its data, which increases the quality of accounting due to the completeness of data coverage, excluding the ingress of false information into it. The list of all commissions, including a one-time commission, paid to the bank together with the receipt of a loan, is fixed in the agreement, which means that when you enter the value of the lump-sum commission, you must specify the number of the loan agreement. Moreover, the one-time commissions paid upon obtaining a loan, and others charged by the bank in other cases determined by law, cannot be cancelled, therefore, should be included in the content of the conditions of each loan to form its history.

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The configuration of accounting of loan commission stores information on each issued loan, including the date of receipt, the amount, purpose, interest rate, repayment schedule, payments, and all additional costs, including one-time, that will accompany it until the loan is fully repaid. This information constitutes the content of the loan database, where loan applications are concentrated, which were the subject of obtaining and issuing a loan, which depends on whose side this software is installed - the company that received the loan or the organization that issued it.

The configuration of commission accounting of a loan is a universal product as it can work successfully on any side of lending. To ensure the correct setting, the ‘References’ block is used, which, with two other blocks, ‘Modules’ and ‘Reports’, builds the program menu. The ‘References’ block contains the initial information about the organization, including its specialization, staffing, tangible and intangible assets, based on which the universal program is individually configured. Now it also becomes personal. In the ‘Modules’ block, the conduct of operating activities is organized - the same accounting of all charges and other expenses and income. All current activities are concentrated here - everything that the personnel do, one-time or regularly, what happens in the organization, is recorded here, including the receipt of funds and spending them. In the ‘Reports’ block, everything that was recorded in the ‘Modules’ block is analysed - all the operations, works, records performed, and all this is assessed, positive or negative, with the determination of the optimal action plan to increase profits - one-time or permanent.

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To get an idea of how the automated accounting of the loan commission system works, let us return to the above-mentioned loan database, which contains detailed information on each loan received and issued. Each loan application has a corresponding status that fixes its current state, which is assigned its own colour that automatically changes when the status is changed. It allows you to visually monitor the status of loans - timely repayment is in progress, debt has formed, interest has been charged, and others. The status change occurs automatically when the system receives information about the transfer of funds, and the accounting system independently distributes receipts to the corresponding accounts or debits them based on the payment schedule, so the staff does not have to control the deadlines. They are monitored by the task scheduler performing the work according to the schedule drawn up for each of them. As soon as the payment has been received, the status of the loan application changes, along with it, the colour changes, showing the new status of the loan. The speed of all operations taken together is a fraction of a second, so changes are recorded in the accounting system at once, which is why they say that it reflects the current state of work processes.

The program carries out statistical accounting of all performance indicators, keeps statistics of rejected and approved applications, and allows you to plan activities for the future. Upon approval of the application, the entire package of documents is automatically generated, including a loan agreement in MS Word format with personal data of the borrower and payment orders. When the application is approved, a repayment schedule is automatically generated. The payment is calculated considering the interest rate, additional costs, and the current foreign currency rate. When another loan is issued before the previous one is repaid, payments are automatically recalculated with an addition to the new amount, and an additional agreement to the contract is formed.

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Accounting of loan commission