CU OASIS is a credit union accounting firm with over 18 years of experience in providing exceptional accounting services to credit unions. Our expertise includes typical accounting processes and reconciliations, as well as specializing in atypical situations and cleanup. We take pride in identifying potential areas for improvement within daily processes and repairing them, resulting in clean general ledger reconciliations for your audits and exams. We have extensive experience in implementing balancing processes for daily items such as ACH processing, corporate reconciliation, cash letter deposit balancing, and more. We have also worked with many Core Systems to update, automate, and streamline accounting processes.
Our team has designed dozens of dynamic spreadsheets and reconciliations to facilitate easy, concise, and non-complex reconciliations for any process, including Share and Loan Balancing, Fixed Assets, and Prepaids.
At CU OASIS, we embrace your philosophy of placing members first. We understand serving the membership is the only reason why any credit union is in business. Our mission is to unite a network of credit union professionals to establish and refine industry best practices through accounting processing.
Our process consists of five steps: Evaluate, Repair, Reconcile, Research, and Maintain. Process evaluation is a critical component of reconciliation as it serves as confirmation member transactions equal any settlements received. Broken processes can leave the credit union exposed to losses from unidentified discrepancies.
After the initial evaluation, identified process weaknesses and suggested solutions are communicated and worked through, either with the vendor or the core. Everything is performed in consultation and with the approval of your institution. With the incorporation of sound daily processes and balancing spreadsheets, accurate preparation of reconciliations is now possible. Any remaining outstanding items are clearly listed as they await resolution or pending settlement.
After generating an accurate reconciliation, outstanding items are researched by our experts. Resolution of these items can include receiving settlement, posting a correcting journal entry, or passing the entry to a member account. As the final step in sound process creation, accurate reconciliation generation, and resolution of outstanding items, GL maintenance demonstrates simple reconciliations listing only settlements and the occasional member.