Subsidiary Processing Enhancements

We have listened to your suggestions throughout the years and are working on a series of projects that will greatly simplify and enhance the processing of your credit union’s fixed assets (including land, leased assets and buildings), prepaid expenses and accrued expenses.  Many screens will be consolidated and processing subsidiary items will include fewer steps.

Since this is a huge undertaking, the projects are broken down as follows:

New Dashboard for Working Subsidiary Items

Much like the Investments Dashboard (Tool #993), a Subsidiaries Dashboard is being developed where subsidiary items are added, edited, closed, deleted, adjusted or viewed all from the main dashboard.  You can also view/update the history of the subsidiary items or opt to include closed subsidiary items on the dashboard.  Both an edit and view version of the dashboard will be available.   The subsequent screens are also re-designed to make working these items easier.

Here is a highlight of the other enhancements included with this project:

  • Dollar amount fields expanded to allow fixed assets with original cost up to 1 million
  • No more asking up front if it is a pre-existing item (when adding an item)
  • Revamped Subsidiary Adjustment screen
  • Allow for comments when adjusting or closing a subsidiary item
  • Ability to adjust a subsidiary transaction description in history
  • Display subsidiary history with most recent first

Project Status:  Specs submitted PS#50245

Update Subsidiary Reports

We did a thorough review of all the existing subsidiary reports and ended up obsoleting three reports (Short Trial Balance, Fixed Asset Inventory and New/Closed Subsidiary Detail).  Much of the information was redundant and/or out-of-date.  For instance, information regarding new/closed subsidiary items can now be obtained from the re-designed Subsidiary Trial Balance.

Enhancements to Subsidiary Trial Balance include:

  • Single or multi-select of subsidiary types to include on the report
  • Re-designed sort options
  • Allow single or multi-select of Category, Department, Vendor, G/L Account
  • Purchase date range selection
  • Option to exclude items with net book value of zero
  • Option to run report for closed subsidiary items only

Note: A future project will allow the Subsidiary Trial Balance to be previewed prior to printing.
Project Status: Specs submitted PS#50246

Revamp Monthly Subsidiary Processing

The monthly expense posting for your subsidiary items will be greatly simplified.  You will be able to process all subsidiary types (except land assets which do not depreciate) at the same time and easily identify that last time that subsidiary type was processed.  We are removing any references to “work file” processing (even if a work file still gets created behind the scenes).  The monthly entries are generated and posted at the same time (no more work files waiting to be processed).
Project Status: Specs in process

Bring Configurations up to Standards

The configuration for Subsidiary Category, Department and G/L Code are brought to current standards.  These codes can be optionally configured to help identify your subsidiary items.
Project Status: Specs submitted PS#49637

March 21, 2019

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May 14, 2019

Have you checked out the NCUA’s proposed 5300 Call Report changes?

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Feb 15, 2018