This function manages the generation of the accounting posting (balanced debit and credit) entries that result from any of the transactions processed in the system related to any of the customer accounts products.

The module delivers the following phases during the transaction accounting entries life cycle:

§  Chart of Accounts: initial configuration of the chart of account (CoA) that will be used by the financial services organization for the account products transactions journal generation. This task is done by the accountant or CFO end user guided by a web-based application.

§  Transactions Entries: for each transaction type or code a set of debit and credit amount associated to the specific CoA are configured. This task is done by the accountant or CFO end user guided by a web-based application.

§  Journal Entries Generation: a process is executed any time during the day of at business closure date or in periodical manner. The process read all the debit/credit transactions delivered and that postings have not yet been generated. The module stores in specific data base tables the resulting debit and credits records right after each transaction that triggers the generation of the journal for later reporting.

§  Reporting/Journal Postings: the posting can be grouped by date or periods and be passed via data flows to the client chosen accounting system or package, based on a pre-defined Chart of Accounts mapping or alignment.