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- While the current accounting approach works for GK, their accountant anticipates issues in the future (Now all branches share the same fund source which is a Cash account. As and when branches start giving loans directly through Checks from their bank accounts etc, the current approach of setting fund source at a product level might not work for them)
- They want to track different fees and penalties postings under different account heads (currently all fees and penalties in the context of a loan product are tracked in the same head)
- Principal write-off should write into different accounts based on the cause for write-Off. Ex member death would need to decrease the fund source and increase the expected insurance pay-out.
1.2 Musoni Requirements
- Different repayment and disbursement channels need to be accounted under different heads
- Ability for different branches to have different Fund sources
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2 Verbiage Guide
Term | Comments |
Product default posting rules | Refers to the default posting rules assigned at the time of product creation (See https://mifosforge.jira.com/wiki/display/MIFOSX/A+Possible+accounting+Spec) |
Accounting rule | A rule that identifies the account to be credited and the account to be debited |
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