Accounting Saving Product Fields

Saving Product Fields—Additional Fields for Cash Accounting

Assets

Field name (attribute)

Description

Example

Validations (if applicable)

Saving reference

An Asset account (typically a Cash account), to which the amount is debited when a deposit is made by the account holder and is credited when the account holder makes a withdrawal.

Overdraft portfolio

An Asset account (typically a Cash account), that increases when a client makes an overdraft withdrawal.

Liabilities

Field name (attribute)

Description

Example

Validations (if applicable)

Saving control

A Liability account which denotes the Savings deposit account portfolio and is credited when a deposit is made and debited when a withdrawal is done.

Savings transfers in suspense

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An Asset account that is used as a suspense account for tracking Portfolio of Loans under transfer.

Expenses

Field name (attribute)

Description

Example

Validations (if applicable)

Interest on savings

An Expense account, which is debited when interest is due to be paid to the customer.

Write-off

An Expense account, which increases when a client does not repay overdraft balance.

Income

Field name (attribute)

Description

Example

Validations (if applicable)

Income from fees

An Income account which is credited when a fee is paid by account holder on this account.

Income from penalties

An Income account that is credited when a penalty is paid by account holder on this account.

Income from interest

An Income account, where income is generated when client pays interest on overdrafts.

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.

Field name (attributes)

Description

Example

Validations (if applicable)

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.