Branch Accounting

Branch Accounting can be implemented in several levels on Portico. The credit union can choose to place tellers in branches, members in branches, or both tellers and members in branches.

Tellering Branches

For each branch on Premier, there will be a set of general ledger numbers and a set of teller numbers. For example, if a credit union has 4 branches, then the credit union will have 4 sets of general ledgers. A branch on the system is designated by a three-digit extension of the CUID (e.g..22222-002, 22222-003).

Any activity performed by a teller will update the general ledger accounts in the branch the teller is signed into. These transactions include, but are not limited to:

  • Adjustments - Share Deposit from GL (269)
  • Adjustments - Share Withdrawal from GL (279)
  • Transactions - Teller Sales/General Ledger (860)
  • Transactions - Miscellaneous Teller Disbursals (871/872)

As an example, money orders sold in branch 002 will update the general ledger in branch 002. Bonds purchased by a teller in branch 003 will update the general ledgers in branch 003. Also, any cash or checks the teller has collected will remain in the branch the teller works in along with any checks disbursed. If the credit union uses Teller Administration, checks for deposit can be routed to another branch.

Some credit unions choose to move funds between branches for certain general ledgers. For example, if the credit union only has one checking account, the credit union may want to move the checks disbursed from each branch to branch 000. General ledger balances can be transferred between branches using the Basic Journal Voucher window. The Branch field on the Basic Journal Voucher window allows you to update any general ledger in any branch.

To automatically transfer the balance of a general ledger account to the corresponding general ledger account in branch 000 during the back-office cycle, you can select the Transfer Balance to Branch 000 check box on the GL Account - New/Maintenance window. Portico will transfer the general ledger balance at the beginning of the back-office cycle and prior to any back-office general ledger entries. All entries will have an effective date of the current day. No prior month entries will be made. The maximum transfer amount is 999,999,999.99. If a general ledger account balance exceeds this amount, a partial transfer will occur for the maximum amount. Portico will transfer any remaining balance each night until the general ledger account balance is zero. The following general ledger accounts cannot be selected for balance transfer to branch 000:

  • Any general ledger account that exists in the share, certificate or loan profiles.
  • Any interbranch general ledger account beginning with 998.
  • Any general ledger account where the corresponding general ledger account does not exist in branch 000 or is marked for deletion in branch 000.

Using an interbranch general ledger (998XXX) allows you to keep the debits and credits within a branch in balance. Interbranch general ledger accounts should be monitored to ensure they all net to zero. When the credit union moves money from one branch to another using the Basic Journal Voucher window, an interbranch general ledger is not required.

The following general ledger transactions have a Branch field to allow access to any general ledger from any branch:

  • Basic Journal Voucher (703/705)
  • GL Accounts List (781)
  • GL Activity (783)
  • GL History (788)

If you are signed into branch 002, you can use the GL Accounts List, GL Activity, or GL History windows to view the balance of a general ledger in branch 003.

The credit union will receive a Statement of Condition Report 290 and Statement of Income and Expense 300 for each branch and a Statement of Condition Report 295 and Statement of Income and Expense 305 for the entire credit union. To schedule the reports, you must setup the 290 and 300 Report Rules in each branch and/or the 295 and 305 Report Rules.

You can also choose to schedule the General Ledger Recap Auto Reset Report 791 for each branch and General Ledger Journal & Trial Balance Report 280/285. A 280 Report will be generated for each branch. The 285 Report contains the totals for each branch. The General Ledger Journal – CU Level Report 282 combines all the branch activity and totals into the one report by general ledger and date order.

Various reports can be scheduled by branch for tellers divided into branches. For example, the Transactions by Branch Report 660 breaks down activity by teller and the totals by branch. Any other reports involving tellers or general ledger also are available at branch level.

Even with tellers divided into branches, certain functions remain in branch 000. Branch 000 is considered the back-office branch. Payrolls, share drafts, ACH, and other back-office transactions will all post in branch 000. The suspense general ledger for these items should be cleared while a teller is working in branch 000. Any rate change transactions should also be completed while working in branch 000. Payroll posting requests may be performed from any branch.

Member history and the Teller Journaling - Transaction Recap tab display which branch the transaction was performed in.

Adding Members in the Tellering Branches

If you add members to specific branches, you can choose whether Flexible Fees and ACH fees will update the general ledgers in the branch where the member resides or in branch 000. Any other fees will continue to post to branch 000.

When members are in branches, you can run certain reports at branch level or credit union level. Some of reports will automatically sort information by branch.

Implementation/Costs

Branch Accounting can be implemented in phases. You can choose to put tellers in branches at your convenience. However, adding members to branches requires the assistance of Fiserv and must be scheduled in advance. Fiserv recommends placing tellers in branches and placing members in branches at different times.

When you submit your branch accounting request, Fiserv will complete an estimate based on your current credit union options. The estimate is sent to your credit union for approval prior to any programming changes.

There is a specific cost per branch to have Fiserv add the branches needed to put tellers and/or members in branches.

To have members in branches, no members can exist in branch 000. Therefore, Fiserv must move the members out of branch 000 to any designated branch for an associated cost. Fiserv will send an estimate to your credit union for approval prior to moving any members.

The Member Branch Change process identifies members during the back-office cycle who meet a branch change criteria. The morning after Portico runs the Branch Change Process Report 140, Portico can automatically transfer the members into the target branches or display the list of qualifying members on the Member Branch Assignment Transfers window for you to manually move. To automatically transfer members based on the qualifying criteria, the 140 Report Rules must be setup with the correct options and $teller. Contact Portico Customer Service for assistance.