CU*Answers continuing to improve accounting functions
GRAND RAPIDS, MI (January 31, 2018) — Last fall, CU*Answers released some sweeping changes to the accounts payable system of it CU*BASE® core processing platform, making it easier to pay vendors and process invoice payments. In addition to the improved workflow, approval controls can be activated so that invoices are authorized by specific employees before being selected for payment. This separation of duties helps credit unions satisfy examiners by ensuring that only those with appropriate authorization are approving vendor payments.
Investment processing was also beefed up last fall with a new dashboard that allows credit union investments to be added, changed, adjusted, closed or purged all in one place. Monthly investment accrual processing also requires fewer steps.
More improvements are in the works for not only the accounts payable and investments systems, but for other accounting functions like subsidiary and ACH processing. Keegan Daniel, Manager of the Asterisk Intelligence team said: “CU*Answers is working toward building out its operational databases not only for improving overall workflow but also for providing analysis of the many functions that accounting/back office teams perform.”
About CU*Answers
CU*Answers offers expertise in implementing technical solutions to operational needs, and is a leader in helping credit unions form strategic alliances and partnerships. CU*Answers provides a wide variety of services for credit unions including its flagship CU*BASE® processing system (online and in-house) and Internet development services featuring It’s Me 247 online and mobile banking. Additional services include web development, network design and security, and image check processing. Founded in 1970, CU*Answers is a 100% credit union-owned cooperative CUSO providing services to credit unions representing over 2 million members and $26 billion in credit union assets. For more information, visit www.cuanswers.com.
