How does ALMSys® handle end of month balancing?
During the month, full payments are posted to ALMSys®. At the end of the month, a balancing report is run that will break the total received into principal, interest, tax, etc. You make one set of ledger entries at the end of the month for all payments combined. ALMSys® does the disbursement work for you. This saves you hours of work in trying to determine each payments breakdown.
During the month, full payments are posted to ALMSys®. At the end of the month, a balancing report is run that will break the total received into principal, interest, tax, etc. You make one set of ledger entries at the end of the month for all payments combined. ALMSys® does the disbursement work for you. This saves you hours of work in trying to determine each payment’s breakdown.
