Month-End Close & Audit Readiness
IntroXL includes a wide range of reports, but most lenders rely on a small Core Set for accounting, reconciliation, and daily operations.
This guide explains the essential reports and how they fit together to support a GAAP-standard Loan Receivable rollforward.
1) The Controller’s Map (Financial Reconciliation)
For finance teams and auditors, the Loan Receivable Reconciliation report is the month-end anchor. It shows how your portfolio moves from the beginning of the period to the end of the period, broken into two components:
- Principal
- Interest and Fees
Use the map below to match each reconciliation line item to its supporting detail report (“proof”):
| Reconciliation Line Item | Supporting Detail Report (The “Proof”) | Purpose |
|---|---|---|
| (+) New Fundings | Static Pool (or Funding Report) | Tracks new loans funded and new principal created. |
| (+) Interest and Fees Accrued | Interest and Fee Accrual | Validates period-based accruals for Interest and Fees. |
| (-) Payments Collected | Detail Payments | Shows payments posted to loans in IntroXL, including allocations. |
| (+) Returns / Reversals | Detail Returns / Refunds / NSF | Shows reversals that increase receivables (adding the balance back). |
| (-) Discounts / Settlements | Detail Discounts | Audit trail for non-cash balance reductions (waived fees, settlements, corrections). |
| (-) Write-offs | Detail Writeoffs | Tracks loans moving to charge-off / bad debt status. |
| (=) Ending Loan Receivable | Receivables (aka Open Loans by Date) | Point-in-time “trial balance style” view of open loan balances. |
| Below the Line Items (Post-Write-off Activity) | ||
| (+) Recoveries | Recoveries | Tracks cash collected after a loan has been written off (post-charge-off activity). |
2) The Cash Handshake (Reconciling with Your Payment Processor)
A common finance question is:
“How do we know the cash in the bank matches the loan system?”
IntroXL is the loan sub-ledger (we post borrower payments to the loan). Your Payment Processor is the settlement agent (they move the money and produce settlement reports).
- Step 1: Run Detail Payments to see payments posted in IntroXL.
- Step 2: Compare totals to your Payment Processor settlement report for the same date range.
- Step 3: Confirm the processor’s settlement totals match your bank statement deposits.
Critical integrity check: Always review Detail Returns / Refunds / NSF. A payment that posts but later fails must be reversed to keep loan balances and reconciliation accurate. Since most lenders use a third party payment processor, there is a three (3) day hold to account for returns. There is a “Return Status” filter which can be changed to “cleared”. This will show just the payments that cleared.
3) Operations & Management Reports
Beyond accounting, these reports drive daily collections workflows and portfolio performance monitoring.
- Past Due Report
Daily collections workflow: shows who is delinquent and needs follow-up. - Payment Schedule
Missed payment tracking: shows scheduled payments by date and outcome (Paid, Failed, Pending). - Static Pool
Vintage / cohort analysis: analyze loans originated in a date range to measure paydown, delinquency, write-offs, and ROI trends. - Lead Summary and Lead Detail
Origination funnel and underwriting review: track lead volume, approvals/declines, and decisioning outcomes.
Summary: Recommended “Core Stack”
To keep reporting clean and audit-ready, we recommend emphasizing these reports:
- Loan Receivable Reconciliation – month-end rollforward anchor
- Receivables – point-in-time balance sheet support
- Detail Payments – Fees First – payments posted to loans (cash posted)
- Detail Returns / Refunds / NSF – reversals and returns (integrity check)
- Detail Discounts – non-cash adjustments and settlements
- Detail Writeoffs – charge-offs / credit loss events
- Recoveries – post-write-off cash tracking
- Past Due Report – daily collections view
- Payment Schedule – missed payment outcomes and forecasting
- Static Pool – pulls a group of loans funded in a date range and shows how they performed over time
- Lead Summary and Lead Detail – origination funnel reporting
- Aging Report – receivables aging for open loans, bucketed by days past due
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