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PRODUCT - Functions

General Ledger

The OLYMPIC Banking System has built-in General Ledger processing. The structure and posting rules for balance sheet reporting are fully customisable and multiple structures and currency reporting can be defined. For every transaction, the system will generate a self-balancing accounting set according to the accounting rules parameterised in the system by the bank. Cash flows due to transactions in any product can be monitored against the designated accounts in STP straight through processing. As all accounting is done in real-time, a Trial Balance can be produced daily.

Account structures

  • ledgers can be formatted in a chart of accounts to fit the business organisational structure
  • there are 8 to 10 segment positions , and the total of each sub-group and each group are calculated for these
  • the chart of account supports an unlimited number of multiple company structures
  • a chart of accounts can be set up and adjusted by company
  • structures allow different aggregation levels (subsidiary, cost/profit centre, region)
  • change of aggregation level criteria is possible during operation
  • the chart of accounts can be categorised by:
    • Currency
    • Line of business
    • Cost centre
    • Reporting unit
    • Detail/summary
    • Account type (assets, liabilities, costs, benefits, memo, capital, etc.)
  • details in subsidiary business units are aggregated in the (general) ledger
  • there is a use-definable number of subsidiary business units
  • a control function is available to reconcile ledger accounts

The OLYMPIC Banking System's modular structure offers banks the flexibility to quickly respond to the evolving requirements of national and international financial markets. OLYMPIC facilitates fine-tuning via extensive parameterisation, with high flexibility across the entire range of financial products and their accounting characteristics.

General Ledger - OLYMPIC Banking System has built-in General Ledger processing