Markit
Financial Information Services
Markit WSO Accounting
Markit WSO Accounting enables clients to convert data in Markit WSO Administrator into journal entries and format them as necessary to import into a third party General Ledger package.
Product summary:

Markit WSO Accounting is the most efficient way to populate a company’s accounting system.  By creating debit and credit journal entries of all activity within Markit WSO Administrator, cash can be mapped to a specific general ledger using one of over 100 unique transaction types.  In addition, backdated, changed or deleted activity is automatically adjusted and the appropriate journal entries are created to account for these changes.  Custom extracts can be formatted to feed any general ledger package that accepts a feed of journal entries.

The journal entries generated by Markit WSO Accounting are a combination of data resulting from Markit WSO Administrator transactions and Markit WSO Reporting calculations.  General ledger accounts used in Markit WSO Accounting are usually the same as accounts previously established in a company’s legacy accounting platform.  Because the mapping of activity is customisable, all transactions can be quickly tracked for a specified time period.

All this creates a seamless integration between Markit WSO and a third party accounting package, enabling clients to manage their portfolios more effectively.
Key benefits:
Creates seamless integration between Markit WSO and a third party general ledger package
Identifies prior period adjustments and creates journal entries for these backdated or changed activities
Allows customised mapping of WSO activities to a company’s existing chart of accounts
Maintains the necessary timing required for period accounting; journal entry postings are created daily, weekly, monthly, or on any regular or irregular timing as needed by the entity
Key functions:
Improves efficiency by automatically creating debit/credit journal entries of all activity within Markit WSO Administrator for the specified period, including Gain/Loss calculations
Activity mappings for over 100 transaction types (such as Receive Interest, Early Paydown, Interest Accrual, etc.) to specific general ledger accounts within a company’s accounting system
Identifies prior period adjustments, - finds backdated entries to Markit WSO Administrator, as well as changed, or deleted activity and creates the appropriate journal entries to account for these changes
Custom extracts are created by Markit, if necessary, to feed any general ledger package that accepts a feed of journal entries. These extracts can be coded for any file type or format required by the general ledger application
Related Links
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More Information
For more information, please contact info@markitwso.com or call us on +44 20 7260 2465 (EU.) or +1 972 560 4420 (U.S.)
For more information about Markit, please contact us at any of our regional offices
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