16.4 Accounting Roles
In this section we have provided a list of sample accounting roles.
Table 16-3 Accounting roles
| Accounting Role | Description | Role Type |
|---|---|---|
| CHGSINC | Charges on the Loan Product | Income |
| FEESINC | Liquidation Fees | Income |
| INTREC | Interest Receivable | Asset |
| ASSETGL | Asset GL for loans | Asset |
| INTAQR | Interest on Principal | Asset |
| INTINC | Interest on Principal | Income |
| FRTAX1_PAY | Tax Payable role for FRTAX1 | Liability |
| FRTAX1_EXP | Tax Expense role for FRTAX1 | Expense |
| FRTAXS_PAY | Tax Payable role for FRTAXS | Liability |
| FRTAXS_EXP | Tax Expense role for FRTAXS | Expense |
| FWDASSETGL | GL for Future Dated Loans | Contingent Asset |
| FWDASSETOFF | Offset for Future Dated Loans | Contingent Liability |
| ROLLFEESINC | Rollover Fees | Income |
| VAMBFEESINC | VAMB Fees | Income |
| P_PRNINC | Penalty on Overdue Principal | Income |
| P_PRNREC | Penalty Interest Receivable | Asset |
| P_INTINC | Penalty Interest Income | Income |
| P_INTREC | Penalty Interest Receivable | Asset |
| ASSETGL_REF | Asset GL for Refinance | Asset |
| LAIBGL_REF | Liability GL for Refinance | Liability |
| ASSETGL_REF_OFF | Offset GL | Asset |
| LAIBGL_REF_OFF | Offset GL | Liability |
| RESINT | Restricted Interest | Income |
| UNREAL_MTM_INC | Unrealized MTM Income | Asset |
| UNREAL_MTM_OFF | Unrealized MTM Offset | Asset |
| UNREAL_MTM_EXP | Unrealized MTM Expense | Asset |
| <Fee Component>FLR | - | - |
| <Fee Component>FIA | - | - |
Note:
In the accounting roles listed above the prefixes CHGS (charges), FEES (Fees), INT (Interest), FRTAX1, FRTAXS (Tax), P_PRN (Penalty), ROLLFEES (rollover fees), VAMBFEES (value dated amendment fees) are ICCF components.The suffixes stand for
Table 16-4 Suffix
| Suffix | Description |
|---|---|
| AQR | Acquired interest receivable |
| EXP | Expense |
| INC | Income |
| PAY | Payable |
| REC | Receivable |
Given below is a possible set of events and the advices that could be generated during the life cycle of a loan:
Table 16-5 Set of events and advices
| Events | Advices |
|---|---|
| A payment was liquidated today by the Automatic Contract Update function of OL module | An advice is generated addressed to the customer intimating him about the payment that was liquidated today. |
| A back dated loan with a value date as of today was initiated | An advice is generated addressed to the customer. If any components like discounted interest, tax on principal and so on are liquidated on initiation, an advice is generated for each of them. |
| A change entered through the value dated changes function fell due today and was executed. | An advice is generated notifying the customer about the changed terms of the loan. |
| A floating rate/periodic rate of a loan has changed. | An advice is generated telling the customer of the new interest rate applicable on the loan. |
| A loan was rolled over into a new loan. | An advice is generated addressed to the customer intimating him of the rolling over of the loan and the initiation of a new loan. |
Parent topic: Appendix B - Accounting Entries, Advices and Error Codes