Finance Module and Financial Reporting
Whether for incoming transactions like premiums or contributions, or outgoing money like benefit, pension, or insurance claims payments, the financial module is fully integrated with the other operational functions and with general ledger.
The finance module of Talk Software has been especially designed for an efficient administration and follow up of financial transactions allowing for electronic interfacing with banks and asset managers.
The financial module of Talk allows for a comprehensive financial reporting and regulatory filings.
The Finance Module of Talk assures an efficient and secure administration of financial transactions for both incoming (benefit plan contributions or insurance premiums) and outgoing (pension payroll, benefit payments, insurance claims payments, insurance intermediaries commission payments) and fully integrated with general ledger postings.
It allows for electronic communication with other financial institutions (banks, asset managers), direct debit functions, automatic treatment of electronic bank statements, bank account reconciliations and follow up of contributions or premium collection. All financial transactions are structured through types of financial pieces with the different elements up to the lowest level for comprehensive financial reporting, accounting purposes and for activity based costing. Additional taxation or fiscal deduction functions are an integral part of the financial module.
The financial module is fully integrated with the other back office administration functions. For instance, backdated changes will take into account existing financial transactions or registrations and will only invoice, collect or pay the difference.
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