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Changes to Existing Screens

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  • Deposit product screens to be enhanced to capture the accrual accounting General Ledger account heads

Changes/Enhancements to Batch Jobs

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Changes/Enhancements to Accounting Entries

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Deposit Products need to capture additional accounting General Ledger heads under which accrual of incomes and expenses will be done.

Under assets: Interest Receivable, Fees Receivable, Penalties Receivable

Under liabilities: Interest Payable

 

Recognition of Interest to be paid:

                 Interest on Savings (Expenses) Dr,

                 Interest Payable (Liability) Cr

Recognition of Interest (or Fees or Penalties) Receivable:

                 Interest (or Fees or Penalties) Receivable (Asset) Dr,

                 Income from Savings (Income) Cr

User interaction and design

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