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November 12, 2008updated 06 Sep 2016 2:39pm

Advantage Systems adds new feature to accounting tool

Advantage Systems, a provider of accounting and contract management tools, has added a new feature to its Accounting for Mortgage Bankers, an accounting tool designed for mortgage bankers, that enables users to limit access to individual bank accounts.

By CBR Staff Writer

By securing access to bank accounts, accounting for mortgage bankers (AMB) is expected to enable branch users to manage their own checking accounts within the system. The organization benefits by distributing that labor burden while at the same time capturing the necessary accounting data relative to the branch, said Advantage systems.

Additional benefits of this security feature enhancement include overall security of the check writing process and prevention of errors associated with users selecting the incorrect bank account when printing or voiding checks.

According to the company, the enhancement is expected to provide managers within the mortgage industry with the ability to safely and securely enable branch users to print their own bank-related reports, such as cash disbursement and cash receipt reports, since each user is only able to report on banks to which he or she has been granted access. Senior management also has the ability through AMB to better control access to money market and other high dollar or sensitive accounts.

Brian Lynch, president of Advantage Systems, said: Many accounting systems control the access to the function to write checks rather than the specific bank involved, leaving the company vulnerable to the risk that sensitive information can be seen by the wrong people. AMB takes security to the next level by enabling management to decide which users have access to each bank account.

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