The certificate of deposit module provides you with a flexible method of accounting for all the various types of time deposits, retirement funds, and variable rate accounts.
- Handles multiple CD types, including IRA’s (Roth, Educational, Medical Savings, Roth Conversion).
- Processes variable rate CD’s.
- Performs simple, periodic or daily compounding.
- Pays monthly, quarterly, semiannually or at maturity interest payments.
- Tracks CD terms in days or months.
- Allows interest payments by check, compounding or deposit-to-another-account methods.
- Offers CD calculator with penalty computation.
- Ability to cash certificates (real-time) on-screen which automatically calculates penalty and accrued interest.
- Provides compound, maturity or deposit-to-another-account notices.
- Performs automatic rate change by types.
- Produce electronic filing data to IRS for tax reporting.
- Does full accrual accounting.
- Performs automatic rate change by types.
- Prints interest checks and notices.