Fixed Asset Software Designed for Financial Institutions
Over 1,700 U.S. banks and credit unions trust our fixed asset software.
Getting a clear view of your assets boosts your productivity and helps you focus on your growth. We make that process simple. With Banktel’s fixed asset software, financial institutions can grow their business with a fully automated solution that tracks assets while reducing information, maximizes your tax savings, and reduces your operating costs.
- Facilitate GL and tax assignments with class defaults
- Generate IRS Form 4562 automatically
- Report by class, location, GL, and more
- Post depreciation and disposals to your GL automatically
- Split assets by percentage or dollar amount
For us, there’s quite a few the integration with not only AP, but our fixed assets and prepays and accruals was huge for us. So having the ability to flag those and easily create the prepaid and fixed asset records is really nice makes month-end processing much smoother. And then avid pay is big, you know, it eliminated the need for our staff to actually cut those checks and stuff them on a daily basis. But it’s also gonna help with our sheet processes. They’re really good at monitoring those checks and making sure, you know, we get those checks stopped timely and reissued when we need to. So that’s really nice. And then the invoice storage and document retention you know, being able to quickly query the invoices rather than sifting through paper. It’s huge.
Yeah. So you know, our core system is Symitar and so being able to directly integrate with that it was a huge efficiency for us. We, we process a lot of AP items and we have a lot of fixed assets and prepays. And so those postings now are just a quick batch process that eliminates that manual component and the chance for things to be miss posted and miss keyed. And so the other piece that we really like is the descriptions that are in bait tail is exactly what flows over into seminar. So easy reference when we’re looking at specific vendors or invoices. So that’s really nice as well.
Banktel integrates with our core Symitar, which includes not only AP, but also fixed assets, and prepaids and accruals. Having the ability to easily flag those and create records, and then being able to post everything as a quick batch process in the core really makes that so smooth.
Jennifer Grecian, Senior Accounting Specialist, GreenState Credit Union
Customize your fixed asset software.
Streamline and accelerate your multi-org process.
Use one database.
ASCEND allows for an unlimited number of companies or paying institutions to work within one database. Plus, each user has their own set of users and permissions, and the ability to interface to their respective GL.
Split expenses inter-company.
Have multiple companies? No problem. ASCEND allows for one company to pay an invoice and then split the expense across other companies’ GL, saving countless time on manual processes.
What our clients say about our fixed asset software
“We just had our first external audit with ASCEND. I scheduled a 30-minute sit-down with the auditor to look at specific items. This process would have taken about six hours before ASCEND. The auditor couldn’t get over how easy and accurate it was. She said at least 10 of her bank clients immediately came to mind, that should start using BankTEL. She took a stack of my cards, to give to the accountants at these banks, in case they wanted to call with questions.”Nicole HulbertSeaside National Bank & Trust
“I’ve been through the conversion process to new software before, and it’s usually a nightmare. Nothing balances and nothing works. But with ASCEND, things balanced and things worked. It was a very easy move.”Mendy CollierRegent Bank
“With BankTEL, everything was more streamlined, there was better reconcilement, better functionality and better security on the user-side of things. It was a major step up for us.”Heath PrescottFarmers & Merchants Bank of South Carolina
“Banks deal with accounting every part of every day. It’s a core part of the business. To be able to maneuver through the system and have the detail of records, the tracking and reporting that are available at BankTEL, was long overdue. Ascend is leagues ahead of where we were previously.”Tony AtecaSecurity Federal Bank
“One thing I like about BankTEL is that they always want to know what you want and how they can make their product better. They like to listen to customers.”Lynn McKeeBankWest