Mortgage Management

The Mortgage Accounting system provides control over loan repayments.

Loan and lender details are entered into the system including information pertaining to the property. The same matter number as defined in Legal Accounting CAN be used as the loan number. This creates the link between the two systems.

Payments are made to lenders electronically or by cheque. The management fee component is calculated automatically and can be transferred to the relevant income charts in the General Ledger module. Withholding tax for lenders is calculated automatically at the end of each month and paid electronically.

Extensive reporting on loans and lenders is available in the system detailing default interest payments and borrowers trial balance status.

The system also includes a full bank reconciliation program allowing you to reconcile each bank account maintained within the system.

Contact Comparto today for a demonstration of the Mortgage Accounting module.