CD Accounting System
Designed for Certificates of Deposits, this product will effectively manage any number of sizes, classes, or types. Each CD may compound daily, monthly, quarterly, semi-annually, or annually, and may be subject to early cancellation penalties. Additional deposits may be made and kept on record until the CD is renewed, and accrual reports may be generated on request. Interest may remain accrued, transferred to CD principal, or paid to a designated person or account. Records are dept of pledged CD's, income tax withheld, and interest paid. Truth-In-Savings is incorporated with APY calculations, and Average Daily Balance (ADB), designed to work with general ledger systems, produces a balance according to accounts for the purpose of monitoring trends, is included.
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