Journal Entry Posting

LMS support for journal entry posting related to investment accounts is semi-automated.There are 2 main tools involved in this process : Processing of bank statements and Processing of payments.

While processing bank statements the  system automatically connects transaction with relevant loan using unique Loan number.  The system also assigns operation code  ( GL account) for the transaction. In case of loan disbursements, after processing bank statement  they get confirmed.   Loan repayments shall be  additionally posted  into investment accounts  – interest, principal, late penalty, and default interest ( payment processing tool).