Financial Accounting

General Ledger

General Ledger provides highly automated enterprise financial accounting for banks and credit unions. The fastest and most scalable general ledger on the market with all the tools to manage financial accounting and performance at any level, General Ledger can automate even the most customized information.

Gain Efficiencies with Highly Automated Financial Processing

General Ledger automates the most time-consuming chores in financial accounting and management. From processing journal entries to keeping your software up to date, COCC has built in the most advanced automation, guaranteed to save you time and money.

General Ledger from COCC:

  • Delivers financial information customized to any level of the bank.
  • Automates complex tasks, such as subsidiary eliminations.
  • Reduces support costs through automated software updates, bundled business recovery services and all-electronic reporting.
  • Works seamlessly with other COCC Financials products to drive better decision-making, sustain financial discipline and optimize business processes.
Establish and Maintain Superior Internal Controls

Guarantee data integrity with a single ledger to manage all financial accounting information throughout your bank or credit union.

COCC's Financial Accounting Solution

Fixed Assets

Assets reduces the cost and improves the accuracy of fixed-asset transactions through automated asset management. Using a single source of financial information, Assets presents the full range of asset information while streamlining standard management tasks such as asset transfers, disposals, reclassifications, financial adjustments and tax legacy data conversion.

Fully integrated with General Ledger and Payables, changes to Fixed Assets are automatically reflected throughout the bank’s financial system. Plus, using ADI will further enhance the convenience and automation.

Lower the Cost of Asset Ownership

Assets enables your financial institution to manage its assets in a single system that automates many transactions to reduce the costs associated with fixed-asset transactions, all while improving accuracy.

Securely Manage Assets

Use reliable and timely information to properly manage your enterprise’s fixed assets. Reports or perform ad-hoc inquiries for quick and easy access to asset details. Because Assets is an integrated solution, standard events such as adding or retiring fixed assets will trigger an update in General Ledger.

Increase Efficiency with Self-Service

Assets provides real-time asset transfer functionality to simplify and streamline the complex task of tracking inventory ownership and location. Armed with asset information, you can make better decisions about managing your current assets while planning for the future.

Comply with Local and International Regulations

Assets supports complex and diverse reporting requirements. Whatever depreciation method you choose, running it will update the General Ledger with no manual intervention required.

Payables

Payables improves margins, instills corporate and fiscal discipline and optimizes business processes. Next-generation technology offers unprecedented automation and instant updating of related information in General Ledger and Fixed Assets.

Working from a single, comprehensive source of financial information, Payables reduces error and duplication of effort while delivering the best in convenience and information access. Using ADI (Application Desktop Integrator) further increases convenience and automation.

Painless Payments

Automate invoice processing with pay groups, invoice scheduling and selection criteria for invoice generation. COCC Financials simplifies invoice payments with payment priorities, pay groups and payment selection based on criteria established by the financial institution.

Automatic Information Updates

Advanced technology eliminates the lag between updates in Payables and updates in General Ledger. With Payables, generating an invoice automatically triggers an update to the General Ledger.

Instill Corporate and Fiscal Discipline

Payables is a major tool to enforce business rules that lower exposure to fraud, error and unauthorized payments. Automate the routing and approval of invoices according to the unique requirements of your business. Leverage joint controls with General Ledger.

Keep Growing

Payables helps you manage any level of complexity, including future-dated payments, sales and use tax, withholding tax and regional and local taxes. The system is truly accounting without limits for your growing organization.

Profitability

Our Profitability System is a cost-accounting solution that can help you understand and enhance the profitability of your accounts, account holders, products, officer portfolios and branches. This solution determines the profitability of your products based on your financials, giving you the right information to strengthen your profitability. Developed with the latest Microsoft® SQL Server and .NET development tools, our Profitability System interfaces with COCC’s next generation accounting and data management solutions.

See the Entire Profitability Picture

Our profitability system shows you every aspect of your institution’s profitability profile. It uses general ledger, transaction and organizational unit detail to calculate profitability at every level.

See How to Improve Profitability

Our profitability system offers an extensive library of analytical reports that illustrate performance and suggest ways to increase your income. For example, you can see net interest income, non-interest income, non-interest expense, provision for loan losses and break-even analysis at the service and product levels.

Investments

The Investment Accounting system integrates portfolio analytics and investment accounting to increase productivity, improve decision-making and enhance customer service.

Investment Information at Your Fingertips

The Investment Accounting system maintains all the information your financial institution needs to track your organization’s portfolio. The system handles a wide range of security types—including bonds, equities, mutual funds, certificates of deposit and floating-rate instruments—as well as more complex investment instruments such as collateralized mortgage obligations (CMOs).

Save Time through Automation

The Investment Accounting system streamlines the accounting process for your institution’s portfolio through automated calculation of interest, amortization/accretion, yields and future cash flows. The system offers level-yield, straight-line or ratio amortization/accretion and six interest accrual methods.

Complete Security

Investment Accounting enables your bank or credit union to establish a full set of management controls.