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- Scenario 1) Disburse loan to a savings
Loan disbursal should: Debit Loan Portfolio
Savings deposit should: Credit Savings Control
- Scenario 2) Transfer from savings to Loan
Savings withdrawal should: Debit Savings Control
Loan repayment Should: Credit Income from interest, income from fees, loan portfolio, income from penalty
- Scenario 3) Transfer from savings(a) to savings(b) where A is a withdrawal and B is a deposit
savings withdrawal (a) : Debit a' Savings Control
savings deposit (b) : Credit b's Savings Control
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Inter-Branch Transfers [In Progress]
The assumption being that the entries created in each branch should be balanced.
- Scenario 1) Disburse loan to a savings from Branch A to Branch B
Loan disbursal should: Debit Loan Portfolio and Credit a Liability account for "Branch Liability Transfer"
Savings should: Credit Savings Control and Debit a Liability account for "Branch Liability Transfer"
- Scenario 2) Transfer from savings to Loan from Branch A to Branch B
Savings withdrawal in Branch A should: Debit Savings Control
Loan ShouldControl and Credits a Liability account for "Branch Liability Transfer"
Loan repayment in Branch B should: Credit Income from interest, income from fees, loan portfolio, income from penalty and Debit the account for "Branch Liability Transfer"
- Scenario 3) Transfer from savings(Apr-a) to savings(B) where A pr-b) where pr-a is a withdrawal and B pr-b is a deposit from Branch A to Branch B
savings (pr-a) in Branch A : Debit pr-a' Savings Control and Credits a Liability account for "Branch Liability Transfer"
savings (b) : Credit in Branch B: Debits a Liability account for "Branch Liability Transfer" and Credit b's Savings Control
Technical Implementation
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Ex, for Scenario 1, create a debit for the Loan Transaction and a debit for the savings transaction?
Approach 2 ] Unlikely - Link journal entries to the account Transaction (in m_account_transfer_transaction)
entity_type_enum = 3 (Account Transfer)
what would the entity Id be? = Need to have a re-look
transaction_id = link to m_account_transfer_transaction ( Here add a new convenience label a "m_account_transfer_transaction tables id" )
account_transfer_transaction_id foreign key
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