Wisdom : Accounting. The Integrated Accounting, Asset / Liability Management, Investment Management and 5300 Call Report Automation Solution

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1 Wisdom : Accounting The Integrated Accounting, Asset / Liability Management, Investment Management and 5300 Call Report Automation Solution

2 Wisdom Team Former Credit Union CEOs Jon Heath Sr. Financial Consultant Linda Susman Sr. Application Support Derrell Pulis Sr. Business Service Analyst 2

3 Wisdom Charged Off Loan Tracking System Accounting Asset Liability Management Wisdom 5300 Call Report Assistant Investment Portfolio Management 3

4 Wisdom Wisdom was designed by and for credit unions Wisdom has been serving credit unions since 1982 Wisdom is currently in use in over 800 credit unions representing over 30 core vendors Largest client: $1,077B in assets 98,000 members Wisdom has been created with the concept that powerful does not mean complicated to use 801 Clients 30+ Core Systems 4

5 Wisdom Fully integrated Fully interfaced Complete, system-wide security Charged Off Loan Tracking System Accounting Consistent look and feel Support includes ALL upgrades and training Asset Liability Management Wisdom 5300 Call Report Assistant Investment Portfolio Management 5

6 Overview of All Wisdom Products All reports created using powerful Crystal Reports Fully integrated online help complete manual at your fingertips Clients are trained by Wisdom staff using WebEx and can sign up for classes on our website, or watch pre-recorded video classes 6

7 Wisdom: Accounting Data Processor General Ledger Investment Portfolio Mgmt Other Sources Prepaid Expenses Accounts Payable Fixed Assets Written Checks Third-Party Check Printing - ACH Bank Recon Cleared Checks 7

8 Overview of Wisdom: Accounting Accounting General Ledger Accounts Payable Fixed Assets Prepaid Expenses Bank Reconciliation Components are fully integrated or may be purchased as standalone modules True client / server environment allows for use in LAN or WAN environment 8

9 General Ledger Key components of the General Ledger Complete security Flexible chart of accounts Branch / department / cost center accounting Multiple posting options Easy and complete auditing 15 months concurrent posting Unlimited history Custom report writer 9

10 Accounts Payable Complete vendor data Direct interface to fixed assets and prepaids Multiple invoice types Current Debit memos Credit memos Recurring Historical BillMinder Pay bills by check, ACH or manual 10

11 Bank Reconciliation Reconcile an unlimited number of accounts Store unlimited check history with drill-down inquiry A / P payments automatically added Import checks written in other products including core system Import cleared checks from bank or corporate credit union Easy from-to clearing by range Mark checks voided, stop pay, mutilated or stale dated Complete reconciliation reports including paid and outstanding checks and recap with signature area 11

12 Fixed Assets Manage and account for all types of fixed assets Track items by Type Furniture, Fixtures and Equipment (FF&E), building, or land Branch / department / cost center User defined group Detailed information tracked, including asset photo 12

13 Prepaid Expenses Manage and account for prepaid or deferred expenses Track items by Type Prepaid or Deferred Branch / department / cost center User defined group Identical to Fixed Asset system 13

14 Wisdom: Accounting Benefits Sophisticated accounting suite designed by and for credit unions Branch / department / cost center accounting Flexible general ledger report writer Fully integrated sub-ledgers avoid double-entries Online help and documentation Unlimited training using WebEx All enhancements included with annual support 14

15 Wisdom: Accounting At Credit Unions Wisdom was by far the most complete suite of accounting tools we considered, delivering flexible back-office accounting capabilities in a format that is easy to use and modify. Chris Hutson Accounting Manager Texas Tech FCU of Lubbock, Texas has more than $50 million in assets and 10,000 members. 15

16 Wisdom: Accounting At Credit Unions every month when I do my loan accrual, I can just go into my template instead of having to recreate a general ledger journal entry, and that s very convenient. Features: Subsidiary detail for fixed assets, prepaid and accounts payable system, ability to track charged off loans, general ledger entry templates Import to Excel for an opinion audit 16

17 Wisdom: 5300 Call Report Assistant 5300 Call Report Assistant benefits Easy to configure and use Uses same ALM download files as Wisdom: ALM Uses same G / L download or interface file as Wisdom: ALM Ability to export/import manual items Can save HOURS completing the 5300 Final verification / transmission still done by NCUA 17

18 Wisdom: 5300 Call Report Assistant Asset / Liability Management General Ledger Data Processor Loans & Shares Call Report Assistant Investment Portfolio Management NCUA Software 18

19 Thank You Jon Heath or Craig Strumpfer