Financial Accounting Module
Beyontec’s Financial Accounting Module is tightly integrated with the Policy Administration, Claim Administration, and Billing Modules so financial transactions are captured and communicated in real-time, ensuring the accuracy of the information.
Module Highlights
Each feature of the module provides the specific functionality needed to support your business – the way you to – giving you the independence and freedom to adapt to market trends and requirements with greater speed and agility.
End-to-End Accounting Module
Beyontec’s Financial Accounting Module is tightly integrated with the other Beyontec Suite modules, providing insurers a real-time view of data and transactions.
Budget & Control
Beyontec’s Financial Accounting Module provides budget planning and control using historical data and projections.
Reinsurance Accounting
Beyontec’s Financial Accounting Module accommodates and manages the accounting and reporting requirements of all reinsurance transactions.
Real-Time Integration
Beyontec’s Financial Accounting Module allows insurers to control credit limit extension to customers, brokers, and agents using the integration with the Policy Administration, Claims Administration, and Billing Modules.
Chart of Account with Segmentation
Beyontec’s Financial Accounting Module provides the option to define the chart of accounts and segment the accounts with additional input.
Accounts Receivable & Payable
Beyontec’s Financial Accounting Module is fully integrated with the Beyontec Financial Analytical Tool enabling the generation of predefined AR and AP reports.
General Ledger
Beyontec’s Financial Accounting Module is configured to generate General Ledger transactions and supporting transactional and status reports on a needed basis.
Automated Bank Reconciliation
Beyontec’s Financial Accounting Module’s built-in reconciliation feature allows automated reconciliations for credit card, bank transfers, and other payment methods.
Expense Management
Beyontec’s Financial Accounting Module allows insurers to manage costs by tracking and forecasting financial expenses using historical data.
Vendor Management
Beyontec’s Financial Accounting Module manages and tracks external vendor payables and receivables using predefined schedules.
Fixed Asset Management
Beyontec’s Financial Accounting Module allows insurers to manage fixed assets.
Local Regulatory Reporting
Beyontec’s Financial Accounting Module simplifies compliance reporting by capturing, consolidating, and reporting data in appropriate, regulatory reporting templates. Reports may be sent through multiple delivery channels including direct integration and other electronic delivery methods.
Financial Closing and Reporting
Beyontec’s Financial Accounting Module generates year-end reports such as Balance Sheets and Income Statements. Reports may be segmented by product, coverage, and delivery channels as necessary.
