SmartVista Back-Office maintains a set of General Ledger (GL) Accounts for every Master and Agent Institution entity, and posts entries to these accounts in accordance to the SmartVista Processing Rules as transactions are processed to satisfy the double-entry accounting principle.

The SmartVista Back-Office accounting, often referred to as Operational Accounting, is limited to the immediate needs of accurate card-related transaction processing and position keeping: it is not intended to meet every requirement usually addressed to a full-blown accounting system, such as, for example, support for the Chart of Accounts of a certain specific format.

These GL Accounts are used to provide the integrity of transaction flows across the Master/Agent Institution hierarchy and for reconciliation purposes, both with the Core Banking System and Card Schemes.

All additional accounting information that may be required by the Core Banking System and Card Schemes is held within transaction records, including various reason codes, historic exchange rates, amounts in transaction and settlement currencies, etc. On the one hand, this allows passing all the necessary information to an external General Ledger system via the Banking System Interface, and on the other hand, generating all reports required by Card Networks.

SmartVista General Ledger includes the following GL Account Types:

Additional GL Account types may be added, and Processing Rules configured to use them, by just adding and/or setting up records in the SmartVista Back-Office database tables, without any additional software development.