Financial Services

ICON utilizes a true condominium specific, accrual accounting system with general ledger, receivables and payables integration. Here are some of the accounting features.


General Accounting



  • User customizable charts of accounts and fiscal year date
  • Re-usable Transaction Groups
  • Accounting periods can be closed, if desired
  • Easy Modifications and Reversals of Transactions (with a complete audit trails)
  • Automatic “End of Year” function with automatic access to previous year’s data at any time.
  • Specialized functions for the most common tasks
    • Regular assessment, special assessment and interest/ late fee calculations
    • Payment receipts and deposit slips
    • Supplier invoices and check printing
    • Bank fees, interest on investment and bank transfers
    • General transaction Wizard to help track rare non-automated transactions

Bank Reconciliation



  • Keep a check register for an unlimited number of bank accounts
  • Easily do the bank reconciliation with a specialized function
  • Enter bank fees and interest directly from the reconciliation screen if needed
  • Retains a history of all your bank reconciliations

Budgets



  • Use an Excel like grid to establish your annual budgets
  • Share the annual amount over the 12 months automatically or distribute it yourself in the months you wish
  • All totals and differences will be calculated as soon as amounts are recorded
    Export the grid as an Excel spreadsheet if you want to do cash flow simulations
  • Print the following reports
    • Annual budgets – showing the total and along with all 12 months
    • Annual budgets compared to previous year budgets with the variation
    • Proposed budgets for the next year compared with the current year’s results
    • Real results for the current 12 months (useful for building the budget for the next year)
    • Expense and revenue distribution pie charts
  • Benefit from several printing options
    • Print with or without the account numbers
    • Print using personalized criteria (formats and account consolidations)
    • Print in “Portrait” or “Landscape” mode
    • Insert page breaks where desired