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).