A general ledger (GL) is a master document that provides a record of your business’s financial transactions. A strong GL is important in the banking industry, but all too often it is not prioritized and is thus left as an afterthought.
Your GL is the backbone of your accounting processes. Ideally, your GL should integrate with any other software you use, providing easy snapshots of your full financial picture whenever you should need them.
Pros of a strong GL
There are many reasons for implementing a strong GL at your bank. Here are just a few.
- Provides an accurate record of all transactions
- Helps balance your books
- Stores all expenses and income in one place, making filing taxes a breeze
- Reports real revenue to help you keep on top of spending
- Helps you spot unusual transactions
- Helps you nip fraud in the bud
- Aids in compiling comprehensive financial statements
As a banking institution, financial health is your bread and butter. So why wouldn’t you prioritize the financial health of your institution the same way you prize financial health for your customers? Incorporating a strong GL is imperative for your bank’s business.
Flexi knows bank accounting software
Flexi’s enterprise accounting platform works with your bank’s accounting system to make it better, with features like a world-class GL and financial reporting system.
Flexi’s 25+ year history is rooted in serving financial institutions around the world, including banks and credit unions. Flexi has built a platform around the unique needs of this industry, which requires superior security, speed, and performance.
With Flexi’s bank accounting software, you’ll enjoy:
- Daily close capability
- Real-time financial reporting
- Built-in audit and compliance
- Multi-entity consolidations
- Workflow automation
With Flexi’s open architecture, you are enabled to choose the software that is right for your bank. Flexi can integrate stand-alone modules like the GL software into your existing banking accounting system. Or you can gain the ultimate speed and power with Flexi’s entire financial management software platform, which is uniquely designed to allow financial data within the core general ledger to flow securely wherever it is needed in real time.
Many financial institutions feel stuck with software that’s not ideal for accounting. Whatever level of pain you’re experiencing with your accounting system, Flexi can alleviate with flexible banking accounting software.
Learn more about partnering with Flexi today. Call 800-353-9492.