Accounting of deposits

Accounting of deposits

Accounting of third party deposits in modern conditions is implemented on the basis of software. Although it is possible to use spreadsheets at first. Software helps to easily consolidate information and manage it. The software product provides automated functions for accounting, control, analysis of transactions related to cash. In this review, we will talk about the functionality of the USU system version for investments.

Accounting of deposits and savings accounts

In USU you can implement the accounting of deposits and savings accounts. For this purpose, the system creates a depositor card with full data. It will reflect the information required by the company, for example, the personal data and passport data of the depositor and other necessary information. If you need to save copies or scans of documents, you can easily attach them to the information case for the client.

In the program, you can create and register a standard contract and monitor the terms of its execution. Regarding the deposit: in the system, you can enter data on the deposit amount, storage periods, interest rate, and also attach documents, such as contracts, receipts.

Accounting for interest on deposits

The program is designed to account for interest on deposits. This includes interest accrual. In the USU, you can conduct automatic calculations on interest according to the agreement. In the software, you can choose the frequency of accrual: monthly, quarterly, at the end of the term, there may be individual conditions, everything depends on the company's policy, the platform can always be adjusted to the specifics of the company's activities. When capitalizing interest (if provided for by the agreement), the data can be easily reflected in the system.

Accounting for deposit transactions

In the USU you will be able to register various types of transactions related to entrusted material assets. The software will allow you to easily and productively record transactions on deposits. This includes: issuance and return, partial or full withdrawal of funds, automatic recalculation of the deposit balance, generation of cash orders for the return of funds, and so on.

The software will also reflect overdue deposits. The software can also be programmed to automatically notify about the return deadline. If various discrepancies arise under the contract, it is possible to calculate penalties or automatically extend the contract. Depending on the terms of the contract.

Accounting for income from deposits in Excel

Accounting for income from deposits in Excel can be a good solution for small volumes of activity, but even in this case, you need to be especially careful to avoid inaccuracies in the introduction of indicators, formulas for calculations, etc. Otherwise, this can directly affect financial results. It is better to conduct activities from the very beginning through specialized software.

The USU software offers reporting capabilities. For example, you can easily obtain data on deposits with current balances, reports on accrued interest, expenses and other components of the activity. USU helps to control transactions and save the history of all deposit transactions. The system can also reflect commissions and additional payments.

Accounting for deposits

Accounting of deposits is related to accounting. In the USU, you can reflect the formation of accounting entries, you can reconcile cash transactions with accounting data. Through the software, you can organize work with mailing, you can work with personal notifications in bulk. You can implement all kinds of reminders, notifications to clients, for example, about the expiration dates of the contract and the accrual of interest, and so on, there are many options.

The software from USU automates the accounting of cash transactions, reduces the likelihood of errors and simplifies financial control. You can select functions based on your needs. We will conduct a presentation for you and help you make a choice. No training is required to work with the platform; users can use the interactive instructions embedded in the system. We have technical support services available. We invite you to download a free demo version. USU – modern investment management.