Loan Product Fields—Additional Fields for Accrual Accounting
The same fields apply for both periodic and upfront accrual accounting.
| Field Name (attribute) | Description | Example | Validations (if applicable) |
|---|---|---|---|
| Assets | |||
| Fund source | An Asset account (typically Bank or Cash) that is debited during repayments/payments and credited using disbursals. | ||
Loan portfolio | An Asset account that is debited during disbursement and credited during principal repayment/writeoff. | ||
| Interest Receivable | An Asset account that is used to accrue interest. | ||
| Fees Receivable | An Asset account that is used to accrue fees. | ||
| Penalties Receivable | An Asset account that is used to accrue penalties. | ||
| Transfer in suspense | An Asset account that is used as a suspense account for tracking portfolios of loans under transfer. | ||
| Income | |||
| Income from interest | An Income account that is credited during repayment. | ||
| Income from fees | An Income account that is credited when a fee is paid by account holder on this account. | ||
| Income from penalties | An Income account, which is credited when a penalty is paid by account holder on this account. | ||
| Expenses | |||
| Loses written off | An Expense account that is debited on principal write-off (also debited in the events of interest, fee and penalty written-off in case of accrual based accounting. | ||
| Liabilities | |||
| Overpayment liability | A Liability account that is credited on overpayments and credited when refunds are made to client. | ||
| Advanced accounting rules (optional) | |||
Configure Fund Sources for Payment Channels Payment Type Fund Source | |||
Map Fees to Income Accounts Fees Income Account | |||
Map Penalties to Specific Income Accounts Penalty Income Account | |||