IRVINE, Calif., July 27, 2021 – Advantage Systems, a provider of accounting and financial management tools for the mortgage industry, announced today enhancements to its ApprovalSoft® solution, which includes a new invoice splitting feature as well as general updates to the system, improving its speed, documentation and automation capabilities.

In the company’s latest string of software upgrades, the principal update includes its invoice splitting function. The newest feature allows the user to easily create separate “approvables” for each invoice within an invoice package. Previously, the accounting department was forced to manually print, and re-scan each approvable within an invoice package, which means the improvements to ApprovalSoft will now result in reduced stress, time and manual labor for mortgage accountants.

“Our ApprovalSoft system – which can be easily integrated with various accounting or ERP systems, including our Accounting for Mortgage Bankers (AMB) solution – is designed to help companies manage vendor invoices and streamline internal approval processes,” said Brian Lynch, President and Founder of Advantage Systems. “The ApprovalSoft system has now been updated to be better, faster and more automated, with the addition of the invoice spitting feature, we are meeting the reality of how invoices are submitted to the Accounts Payable department and making the entire process easier and more accurate.”

About Advantage Systems
Founded in 1986, Irvine, Calif.-based Advantage Systems is a provider of accounting and contract management tools for the mortgage and real estate industries. Advantage Systems’ Accounting for Mortgage Bankers (AMB) was developed in response to the need the company saw for a general ledger accounting product that could eliminate the spread sheets and manage the loan level detail required by the mortgage banking industry. In so doing, AMB gives its users the tool they need to be confident about the data being reported to management and others. For more information, visit www.mortgageaccounting.com.

Media Contact
David Savini
William Mills Agency
678-781-7203
davids@williammills.com

IRVINE, Calif., February 10, 2021 – Advantage Systems, a provider of accounting and financial management tools for the mortgage industry, announced today updates to the Commissions Module of its Accounting for Mortgage Bankers (AMB) software. The company implemented these updates concurrent with emerging industry trends highlighted during the Mortgage Bankers Association’s Accounting and Financial Management Conference.

“Compensation models continue to change in 2021 as firms reward employees for added volume. We updated the Commissions Module, part of our AMB software, providing greater reliability and enhancing its calculation speed – all to reflect the amplified need in the industry and its increased popularity from our users,” said Brian Lynch, President of Advantage Systems.

Advantage Systems recently hosted a virtual chatroom as part of the MBA’s Accounting and Financial Management Conference, where their team met with industry experts across the country, discussing the trends in commission calculations in 2021, including:

1. Overrides and bonuses for operational employees beyond the loan officer are increasingly important. Anywhere from eight-to-15 people get paid based on a loan closing, including processors, closers, underwriters, branch managers, district managers and more.

2. Commissions, bonuses and overrides are often paid on different schedules. For example, commissions may be paid bi-weekly, but overrides may be paid monthly. One person might be paid different types of compensation on different cycles. Firms must be able to pay multiple people varying calculations at multiple times.

3. Calculating draws, including overtime, (which can change month-to-month) to comply with overtime laws and regulations, continues to be a critical compensation function.

“After communicating firsthand with mortgage bankers at the conference, we heard a number of upcoming and continued trends in commissions,” said Joe Ludlow, Vice President of Advantage Systems. “The AMB commission module today provides features to address each of the trends we heard. The most notable is the sheer number of people, in different operational roles, that can be paid on one loan. Flexible bonus and override compensation features in our system will continue to help our clients recruit and retain qualified and talented professionals – the most valuable resource in the industry.”

About Advantage Systems

Founded in 1986, Irvine, Calif.-based Advantage Systems is a provider of accounting and contract management tools for the mortgage and real estate industries. Advantage Systems’ Accounting for Mortgage Bankers (AMB) was developed in response to the need the company saw for a general ledger accounting product that could eliminate the spread sheets and manage the loan level detail required by the mortgage banking industry. In so doing, AMB gives its users the tool they need to be confident about the data being reported to management and others. For more information, visit www.mortgageaccounting.com

Media Contact
Rachel Smedley William Mills Agency
678-781-7236
rachel@williammills.com