Accounting Loan Product Fields

Loan Product Fields—Additional Fields for Cash and Accrual Accounting

Assets

Field name (attribute)	Description
Fund source	An Asset account (typically Bank or Cash) that is debited during repayments/payments and credited using disbursal. Applicable to Cash, Accrual (periodic), Accrual (upfront)
Loan portfolio	An Asset account that is debited during disbursement and credited during principal repayment/write-off. Applicable to Cash, Accrual (periodic), Accrual (upfront)
Interest Receivable	An Asset account that is used to accrue interest. Applicable to Accrual (periodic), Accrual (upfront)
Fees Receivable	An Asset account that is used to accrue fees. Applicable to Accrual (periodic), Accrual (upfront)
Penalties Receivable	An Asset account that is used to accrue penalties. Applicable to Accrual (periodic), Accrual (upfront)
Transfer in suspense	An Asset account that is used as a suspense account for tracking portfolios of loans under transfer.

Income

Field name (attribute)	Description
Income from interest	An Income account that is credited during repayment. Applicable to Cash, Accrual (periodic), Accrual (upfront)
Income from fees	An Income account that is credited when a fee is paid by account holder on this account. Applicable to Cash, Accrual (periodic), Accrual (upfront)
Income from penalties	An Income account which is credited when a penalty is paid by account holder on this account. Applicable to Cash, Accrual (periodic), Accrual (upfront)
Income from Recovery Repayments	An Income Account that is credited during recovery repayments Applicable to Cash, Accrual (periodic), Accrual (upfront)

Expenses

Field name (attribute)	Description
Losses 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). Applicable to Cash, Accrual (periodic), Accrual (upfront)

Liabilities

Field name (attribute)	Description
Overpayment liabilities	A Liability account that is credited on overpayments and credited when refunds are made to client. Applicable to Cash, Accrual (periodic), Accrual (upfront)

Advanced accounting rules (optional)

The advanced accounting rules allow for finer detail in mapping payment types to fund sources, fees to income accounts and penalties to income accounts.

Applicable to Cash, Accrual (periodic), Accrual (upfront)

Field name (attribute)	Description
Configure Fund Sources for Payment Channels Payment Type Fund Source	A different Fund Source for each Payment Channel may be specified. Select a Payment Type from the Payment Type list (e.g.,Cash, check, m-pesa, etc). Select a Fund Source from the Fund Source list.
Map Fees to Income Accounts Fees Income Account	A different Income Account for each Fee type may be specified. Select a Fee from the Fee list. Select an Income Account from the Income Account list.
Map Penalties to Specific Income Accounts Penalty Income Account	A different Income Account for each Penalty type may be specified. Select a Penalty from the Penalty list. Select an Income Account from the Income Account list.

• The following screenshots show an example of how to define Accrual (periodic) while defining the loan products:

• After this, Click on the 'Submit' button to create the loan product with Accrual (periodic) Accounting. The summary of the Accrual Accounting (periodic) done for the loan product can be seen in the following screenshot.