Archive for Accounting Systems
November 19, 2008 at 5:09 am · Filed under Accounting Systems
Irvine, Calif.-based Advantage Systems, a provider of accounting and contract management tools for the mortgage and real estate industries, has added a new security feature to its Accounting for Mortgage Bankers (AMB). AMB is an accounting solution designed specifically to enable mortgage bankers to limit access to individual bank accounts.
By securing access to bank accounts, AMB now enables branch users to manage their own checking accounts within the system. The organization benefits by distributing that labor burden while at the same time capturing the necessary accounting data relative to the branch. Additional benefits of this security feature enhancement include greater overall security of the check writing process and prevention of errors associated with users selecting the incorrect bank account when printing or voiding checks.
According to the company, the enhancement provides managers within the mortgage industry with the ability to safely and securely enable branch users to print their own bank-related reports, such as cash disbursement and cash receipt reports, since each user is only able to report on banks to which he or she has been granted access. Senior management also has the ability through AMB to better control access to money market and other high dollar or sensitive accounts.
http://www.financetech.com/feed/showArticle.jhtml?articleID=212001368&cid=RSSfeed_FTN_All
November 17, 2008 at 6:40 am · Filed under Accounting Systems
The University of Minnesota is trying to squash some bugs in a $50 million accounting system.
The new Enterprise Financial System handles all of the university’s business. Whether it’s a payment to an employee, or a payment to a vendor, everything passes through the EFS.
The main problem seems to be that the system is really complex. But users say there have been other problems as well, such as data errors, and some don’t fully trust the balances they’re seeing for accounts they use.
Financial officials say they understand the concerns, and say they’re doing their best to fix the problems and make the system easier to use.
Chief Financial Officer Richard Pfutzenreuter says the last time the university switched accounting systems was in 1991, and it took two years to iron out the bugs.
But he says this new system will be — and must be — working smoothly by the end of the year.
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Information from: Minnesota Public Radio News, http://www.mpr.org
http://www.startribune.com/local/33719309.html?elr=KArks:DCiUHc3E7_V_nDaycUiD3aPc:_Yyc:aULPQL7PQLanchO7DiU
November 14, 2008 at 2:11 am · Filed under Accounting Systems, Uncategorized
A return to uniform accounting system in the banking sector will reveal cases of undercutting in the industry, observes the President of the Association of Accountants of Nigeria, Samuel Nzekwe.
Speaking in Lagos on Friday, Nzekwe said the introduction of the policy and its subsequent suspension precipitated the capital market crisis in Nigeria. He said with the margin trading stopped, there was a crisis, adding that it was not good for the government to introduce policies and later reverse them.
“The policy also precipitated capital flight that resulted in selling of shares. The government should do everything necessary to restore investors’ confidence. Let the government go back to the original policy that precipitated the fall. If it will fall, let it fall. At a time, it will get to a point where the stocks will find their level,” the ANAN president said.
He said bail-out might not be a long term solution to the problem, adding, however, that those who borrowed money to buy shares should be given some palliatives.
The ANAN boss, who recalled that the association had made an appeal to the government to use the excess crude earnings for productive and developmental purposes, advised monetary authorities to watch carefully in order to prevent the situation from going out of hand before intervening.
http://www.businessdayonline.com/index.php?option=com_content&view=article&id=1267:banks-uniform-accounting-system
November 10, 2008 at 7:37 am · Filed under Accounting Systems
Irvine, Calif.-based Advantage Systems, a provider of accounting and contract management tools for the mortgage and real estate industries, has added a new security feature to its Accounting for Mortgage Bankers (AMB). AMB is an accounting solution designed specifically to enable mortgage bankers to limit access to individual bank accounts.
By securing access to bank accounts, AMB now enables branch users to manage their own checking accounts within the system. The organization benefits by distributing that labor burden while at the same time capturing the necessary accounting data relative to the branch. Additional benefits of this security feature enhancement include greater overall security of the check writing process and prevention of errors associated with users selecting the incorrect bank account when printing or voiding checks.
According to the company, the enhancement provides managers within the mortgage industry with the ability to safely and securely enable branch users to print their own bank-related reports, such as cash disbursement and cash receipt reports, since each user is only able to report on banks to which he or she has been granted access. Senior management also has the ability through AMB to better control access to money market and other high dollar or sensitive accounts.
http://www.banktech.com/core-systems/showArticle.jhtml?articleID=212001368
