ALLProfits Multi-Currency Accounting Package is a comprehensive financial management system that operates on a real-time basis either as a stand-alone application or fully integrated with the other transaction modules, handling up to 40 currencies with automated exposure and exchange gain/loss calculation.
The Multi-Currency Accounting Package will receive and process accounting entries produced automatically by other applications as a consequence of the submission of a deal. The software can function as a multicurrency subledger and submits summary transactions to the bank's general ledger system.
The cost-effective, low-maintenance banking system is packaged on a client/server environment and requires little or no need for on-site technical staff, which streamlines the staffing of international branch operations.
Functionality
- Customer-defined general ledger structure and chart of accounts
- 40 currencies supported
- Automatic voucher out-of-balance detection
- User-defined financial reports, up to nine levels of subtotals
- Automatic exposure calculation of foreign currency position
- Multicompany financial report consolidation
- Automatic calculation of exchange gain/loss
- Online customer-outstanding and exposure facility
- Reporting - management, operational, customer-activity, and transaction logs/trail
Optional Modules
Other fully integrated transaction modules are Customer Loans System, Customer Limits System, Time Deposits System, Retail Deposits System and Remittance System.
Customer Loans System
ALLProfits Customer Loans System automates processing, interest accrual and accounting for commercial loans, demand loans, personal loans and syndicated loans. Various methods of interest charging are supported, such as reducing balance, straight line, fixed and floating. The system offers a real-time interface to accounts and automates the generation of customer-debit advices and nostro messages via telex, mail, fax or SWIFT.
Customer Loans System interfaces to the ALLProfits Multi-Currency Accounting Package or a central, mainframe-based general-ledger system. It also interfaces to the ALLProfits Customer Limits System or a central liability ledger.
Customer Limits System
- Tracks limits by customer, customer group, currency, country, bank-country and account officer
- Controls customer exposure down to the product level
- Displays overall status of customers online
- Runs on an economical client/server environment
Time Deposits System
ALLProfits Time Deposits System automates the processing of simple fixed-period deposits for offshore branches. It supports rollovers and separate releases of interest and principal. The system interfaces to the ALLProfits Multi-Currency Accounting Package or to a financial services organization's central, mainframe-based general-ledger system.
Retail Deposits System
ALLProfits Retail Deposits System provides online multicurrency teller capability for a small international bank branch. It supports checking account deposits and cashing, cash deposits and withdrawals. Cash float is managed at both the till and vault levels. Transfers and reconciliation occur among the vault and the till or group of tills. Discrepancies are highlighted.
For financial services organizations that issue checkbooks, the module provides inventory and control facilities. The system manages control over stocks and movement from the vault to subsequent delivery to the account officer or customer. Stop-check processing and clearing is also supported.