Product Spotlight: The Advantages of EPL’s General Ledger

In today’s digital world, providing accessibility and convenience is the name of the game. EPL’s Real-time General Ledger (RTGL), integrated within our core, i-POWER®, streamlines accounting processes and gives your credit union the world’s most valuable resource – more time. Time to focus on members, improve efficiency and drive growth. Our RTGL’s advantages are as numerous as its features, which are designed to empower your credit union with the back-end support it needs to be successful.

Here are just a few:

REAL-TIME, COMPREHENSIVE TRANSACTION INFORMATION. 

Real-time, up-to-date information is always available with EPL’s RTGL. All transactions are immediately posted, so any changes or corrections can be completed swiftly by your credit union’s employees as opposed to waiting until the following business day. Drilling down further, everything you need to know about the transaction is easily accessible: number, posting description, details, transaction updates, effective dates, etc. You can view all accounts and dive deep into the details with drag-and-drop search functionality. Imagine the power of knowing exactly where your credit union stands financially at any time.

ROBUST REPORTING.

A variety of reports are available on-demand and can be requested as needed, in PDF, or Excel format for may sub-modules. Reports are stored in the products documentation folder, and are sent to the credit union's external document management system for review. Easily-accessible reports enable credit unions to monitor and analyze key drivers, and provide necessary data to make informed business decisions.

AUTOMATION.

Automation improves credit union efficiency, as well as the member experience. With our RTGL, your credit union automatically can e-mail reports to specific users and groups. Furthermore, end-of-month finalization and closure of accounting periods are automatic processes within the general ledger. In the rare case it is needed, an Administrator can also correct entries after an accounting period has closed.

RESEARCH.

The ability to review products and transactions is critical to ensure your credit union can evaluate its status effectively. The research capabilities of the RTGL help mitigate business and compliance risk by providing the most up-to-date information to your credit union’ staff. Additionally, you can access critical data to complete federally mandated reports and evaluate your credit union’s current and historical financial status quickly and efficiently. 

MODULE INTEGRATION.

Credit unions have the option to activate additional modules within the RTGL in order to adapt to shifting operational and member needs, such as Profitability Accounting, Budget and Investment Module and Participation Loans Sold. The ability to use additional modules within the RTGL helps to increase efficiency and grow revenue within target verticals.

At EPL, we constantly evolve to meet the shifting demands of the industry, and invest in innovative tools that empower our customers to better serve their members. In 2017, the number of credit unions using our core platform has risen steadily, thanks in large part to our commitment to providing unrivaled customer service and developing leading-edge software solutions – the RTGL is no exception. To learn more or schedule your RTGL activation, contact your EPL Relationship Manage today!

Magdalena Kądziołka

Real Time General Ledger Product Specialist

EPL, Inc.