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The Accounting Service Team is responsible for the financial operations of CU*Answers. Our primary functions include accounts payable, billing, accounts receivable, collections, cash management, fixed asset accounting, budgeting and financial statement preparation and tax reporting. We also are responsible for internal auditing, coordination of external audits and regulatory reviews. We assist in the creation of the annual reports and the quarterly financial reports that are required to be sent to all our owners.

The Accounting Department supports all aspects of our general operations. In its most basic form, we make sure that the bills are paid and the lights are on. To accomplish this, we track, invoice and collect funds from our clients. We pay our vendors within agreed upon credit terms and we make sure that there are enough funds left over to pay both our employees and our owners.

We outsource our direct accounting services to outside entities. We also provide consulting services to other CUSOs and credit unions.

CU*Answers Financial Statements, Audit Results, and other Due Diligence Materials

Understanding Your Invoice
(This is our Accounting site; available only from a CU*BASE connected workstation.)

November 17, 2017

CFO Strategies and Accounting Top 10 Focus Group

ATTENTION CFOs AND ACCOUNTING LEADERS You’re Invited! Wednesday, March 22 9 AM – 4 PM ET CU*Answers 6000 28th St. SE, Grand Rapids, MI 49546 CFO Strategies Roundtable A networking session for CFOs, similar to our CEO Strategies series, where CFOs and accounting leaders can discuss their common goals and challenges. Register Accounting Top Ten Focus… Read more »

Feb 22, 2016

First Quarter Financial Review Newsletter Revised

ATTENTION CU*ANSWERS STOCKHOLDERS: The Financial Review newsletter recently mailed to your credit union contained an incomplete Board of Directors list. We sincerely apologize for this oversight. We have corrected the error and posted the revised newsletter online for your review. Additionally, we will include a copy of the revised newsletter with the second quarter newsletter… Read more »

Apr 3, 2015

2015 Focus Groups

ATTENTION CFOs AND ACCOUNTING LEADERS: You’re invited to the 2015 Focus Groups on March 25 from 9 AM – 4 PM ET at CU*Answers, located at 6000 28th St. SE, Grand Rapids, MI 49546. Two Events in One Day! CFO Strategies Roundtable Register Accounting Top Ten Focus Group Register Collaboration feeds innovation, and as a… Read more »

Feb 18, 2015

#3 Investment Enhancements

Status = In process This includes: Re-vamp the work file processing so that you can create, view or post the work file from the same menu option Add the option to print the Investment Accrual Work File Report automatically when a work file is created (no longer a separate menu option) When working with investments via… Read more »

Apr 26, 2013

#4 Subsidiary Enhancements

Status = In specifications phase This includes: Add a new subsidiary type for Accrued Income Combine the Create and Maintain menu options Consolidate monthly processing so that fixed assets, prepaid expenses and accrued expenses can be processed at the same time and one TB Detail Report can be run for all Ability to post prepaid… Read more »

Apr 26, 2013