Loan IQ Accounting
The entire course will cover both the basic and advanced topics on Loan IQ Accounting. The aim of this course is to provide accounting and control personnel with an overview of the tools and capabilities available through Loan IQ.
This course will also focus on enhancing the understanding of Accounting Table Set-up and the Accounting General Ledger Mapping Process.
Upon successful completion of this course, the participants will be able to:
- Obtain an Introduction to Accounting
- Understand Interest and fee Accruals
- Understand the role of Loan IQ Controllers
- Review Loan IQ Accounting related reports
- Review and define the Loan IQ Accounting Building Blocks
- Review the Loan IQ General Ledger Accounting Mapping Process
- Review the Cash Mapping Process
- Review the Loan IQ to General Ledger reconciliation process
This course can be delivered both remotely or in classroom both at a Finastra site. However, from the learning effectiveness scale it is recommended to have a classroom session if the participants are new to Loan IQ and have no prior working knowledge on the product.
The participants attending this course should have attended the Loan IQ Core Business course and have knowledge on Loan IQ Application.
Additionally the participants should also have an introductory understanding of accounting and Generally Accepted Accounting techniques.
This course will cover the following topics:
- On-line Accounting
- G/L Mapping and Subledgers
- Accrual Calculations
- Accrual Line Items
- G/L Entries
- 'As of' and Non-accrual processing
- Transaction Controls
- Profit and Loss Controls
- Online Reports
- Batch Report
- Relationship between LIQ Organizational Structure and LIQ G/L Accounting
- Consideration when organizational structures change
- How to affect an organizational change
- Processes and considerations for updating LIQ Accounting Mapping Tables
- Recommended testing procedures
- Definitions of individual tables and how they work
- Adding new payment methods
- Impact of new payment methods on cash interfaces
- Process to investigate G/L sub ledger differences
- Best practices to fix differences
Course includes all training presentation materials, trainee workbooks and hands-on exercises. The exercises will be on live systems, through Academy Labs.