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HEAD | Placeholder |
| |
Assets | Cash |
| |
Income | Loan Portfolio |
| |
Interest on loans |
| ||
Income from fees |
| ||
Income from Penalties |
| ||
Expenses |
|
4.1.2 Posting Rules
Event | Debit | Credit |
Disbursal | Loan Portfolio | Cash |
Principal repayment | Cash | Loan Portfolio |
Interest repayment | Cash | Interest on loans |
Principal Write off | Losses Written Off | Loan Portfolio |
Fees payment | Cash | Income from fees |
Penalty payment | Cash | Income from Penalties |
4.2 Accrual Based accounting Scenario
Would only involve posting to three new accounts (Expected ….) and minor changes to posting rules"incomeType")
4.2.1 COA Snippet
HEAD | Placeholder |
|
Assets
| Cash |
|
Loan Portfolio |
| |
Expected Interest |
| |
Expected Fees |
| |
Expected Penalties |
| |
INCOME
| Interest on loans |
|
Income from fees |
| |
Income from Penalties |
| |
Expenses | Losses Written Off |
|
...
Event | Debit | Credit |
Disbursal | Loan Portfolio | Cash |
Interest Applied | Expected Interest | Interest on loans |
Fee Applied | Expected fee | Income from fees |
Penalty Applied | Expected penalties | Income from Penalties |
Principal repayment | Cash | Loan Portfolio |
Interest repayment | Cash | Expected Interest |
Principal Write off | Losses Written Off | Loan Portfolio |
Fees payment | Cash | Expected fee |
Penalty payment | Cash | Expected penalties |
Interest write off | Losses Written Off | Expected Interest |
Fee write off | Losses Written Off | Expected fee |
Penalty write off | Losses Written Off | Expected penalties |
5 Closure Dates
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Allow setting closure dates at branch level after which accounting transactions cannot be posted.
6 Reports
Only three basic reports (using stretchy reporting)
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