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5 Accounting rules for Loans
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5.1 Cash based accounting Scenario:
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5.1.1 COA Snippet
HEAD | Placeholder | |
Assets | Cash | Loan Portfolio|
Income | Income from fees | |
Income from Penalties | ||
ExpensesLosses Written Off | Interest for Savings | |
| Liability | Savings Control |
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5.1.2 Posting Rules
Event | Debit | Credit | |||
DisbursalDeposit | Loan Portfolio | CashPrincipal | repaymentSavings Control | ||
CashWithdrawal | Loan Portfolio | Interest repayment | Savings Control | Cash | |
Interest on loans | Principal Write off | Losses Written Off | Loan Portfolioposting | Interest for Savings | Savings Control |
Fees payment | Cash | Income from fees | |||
Penalty payment | Cash | Income from Penalties |
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