Accounting

Sharetec accounting solutions provide a thorough approach to financial management. Sharetec streamlines processes and minimizes difficulty with streamlined methods and maximum ease of use. In addition, reporting capabilities allow you to fulfill NCUA reporting requirements for investments and quarterly 5300 call reports. It’s about maximizing freedom and efficiency while putting information at your fingertips.

Accounting

Key features and benefits of our accounting solutions include:

• 5300 Call Report Assistant: Each quarter, the 5300 Call Report Assistant automatically uploads data from different sources, saving your credit union up to 80 percent of the time typically needed to prepare the 5300 reports.
• Accounts Payable: Accounts Payable lets you keep your funds as long as possible by allowing your employees to enter bills received from vendors now but having them immediately expensed and paid later, depending on the due date.
• Asset Liability Management: Sharetec has partnered with Wisdom ALM to provide an Asset Liability Management (ALM) system designed to support peer analysis, income simulation, gap analysis, net economic value, and key ratios. The Wisdom ALM Financial Management System also provides hundreds of standard reports and graphs that Sharetec customers can easily access.
• Check Reconciliation: When you submit a file to your corporate or local bank containing all cleared items, Inzola will automatically update the “status” and “cleared date” fields for each check, bringing any mismatches to your attention.
• Fixed Assets: With Sharetec’s Fixed Asset program, you don’t have to worry about a thing when it comes to depreciation and updating general ledger entries. Just give us the key details, like the acquisition date, amount, asset life, frequency, and salvage value, and we’ll do the rest.
• Integrated GL: Sharetec’s Integrated GLs allow for automated tracking of all postings and transactions in real-time. For example, see posts from the Accounting workspace updated to GL in real-time, and Teller transactions automatically post upon drawer closure.
• Investments: The Sharetec investment program is tightly linked with the GL. There is no need for a separate ledger, and data does not have to be manually entered into the GL. To eliminate the difficulty, confusion, and potential error of multiple data entries, use Sharetec’s investment system to manage your portfolio entirely.

Sharetec’s accounting solutions perfectly fit any credit union. We offer a comprehensive suite of products that will save you time and money. Contact us today to learn more about how we can help you grow your business.