Back Office

• Auto Payroll Interface – import electronic file for entry of payroll deduction amounts.

  Automatic Payroll Interface

  The Automatic Payroll Interface Option allows you to receive payroll deduction information through a diskette or modem. Files are run through the FedComp system, and the appropriate deductions are automatically recorded.

  FedComp maintains a list of payroll file specifications for the Automatic Payroll Interface. The payroll interface file is a line-delimited ASCII text file. There are no requirements for the name of the payroll file.

  Often a credit union manager will want to post the payrolls using a number other than the member’s account number. The FedComp system accommodates this by giving the manager the ability to assign each member an ID#. The ID# can be any number such as the member’s social security number, employee number, clock number, etc.

• Employee Payroll module with Paychex – You can handles all payroll functions, tax collection and remittance, W2 forms, emails employee pay stubs, direct deposit of net pay and automatic posting into general ledger.

  Employee Payroll Interface

  Interface for PayCycle® Employee Payroll option

• Enhanced G/L-integrated subsidiary ledger for fixed assets, pre-paid/deferred expenses and accrued expenses with automated recurring JCR posting

  Enhanced G/L (Fixed Assets, Pre-paid, Deferred, Accrued Expenses)

  Enhanced G/L is a subsidiary account system that is completely integrated to the General Ledger making reconciling easy and instantaneous.

  • Increase the efficiency of your operation. There are no more spreadsheets or manual ledgers to maintain.
  • Periodic expenses postings are made automatically.
  • Detailed ledgers are maintained in accordance with NCUA Accounting rules and GAAP.
  • Allows detailed tracking of all fixed assets (furniture and equipment) with separate ledger pages for each item. Track depreciation expense and salvage values automatically.
  • Track and automatically expense all prepaid items such as dues, subscriptions, insurance, maintenance, annual meetings and NCUA fees.
  • Automatically accrue and expense for purchases that will be incurred in the future.
  • Track item #, description, purchase date (or start date), total price, maturity, monthly cost and accumulated depreciation on all fixed or prepaid and deferred assets.
  • Maintain detailed listings of all individual monthly expenses.
  • Maintain separate Trial Balance for fixed assets, prepaid/deferred expenses and accrued expenses.
  • Automatically post monthly expenses and changes to subsidiary and general ledgers simultaneously.