How much time do your employees waste juggling GL lists, calling your accounting department, and manually researching fee adjustments? How many mistakes do they make during this cumbersome process? CUTEK’s Fee Manager turns this tedious task into an efficient member-service experience.
Without the Fee Manager, employees are forced to manually research any fee adjustments and then manually calculate the amount of the adjustment. Before making the adjustment, the employee must also decide which GL the adjustment should be debited from. This process is prone to error and mis-use.
When the Fee Manager is invoked, the software displays a list of all fees that have been assessed against that account any time during the past two years. It only takes one mouse click to select each fee that needs to be adjusted. The Fee Manager makes the appropriate adjustments to the member’s account, debits the correct GL based on the type of fee that was assessed, and creates an individual record of each adjustment. This eliminates any confusion that could result in multiple refunds or other mis-postings.
This approach also serves as a security measure, since employees can only reverse fees that have actually been assessed. Your credit union also has the option to place limits on the number of adjustments an employee can make on a given account and require supervisor approvals.
Key Features:
