2.6.1.5 Accounting Roles and Ledgers

This section illustrates defining general ledgers for related accounting roles. Accounting roles are dynamically created by the segment based on the attributes associated with the components linked to the segment.

Roles and ledgers are about accounting treatment for components associated to the product as per their purpose and objectives for which they were defined. The definition spawns across heads like assets, liabilities, receivables, expenses, payable and incomes. The application shall display the above heads for all the associated components. The lender will have an option to define a general ledger against each of the heads, as applicable.

  1. Click Next in the Asset Classification and Provisioning screen to define the roles.
    The Accounting Roles and Ledgers screen displays.

    Figure 2-26 Accounting Roles and Ledgers


    Description of Figure 2-26 follows
    Description of "Figure 2-26 Accounting Roles and Ledgers"

  2. Specify the fields on Accounting Roles and Ledgers screen.
    For more information on fields, refer to the field description table.

    Table 2-26 Accounting Roles and Ledgers - Field Description

    Field Description
    Accounting Head Displays the accounting head created as explained in Annexure 1.
    Head Description Displays the description of the accounting head.
    General Ledger Account Head ClickSearch icon and select the appropriate general ledger from the list. The ledgers are defined in common core and available for the lender to select.
    General Ledger Description Displays the description of the general ledger selected.
  3. Click Cancel to close the details without saving.
  4. Click Back to navigate to previous screen (Asset Classification and Provisioning.
  5. Click Save and Close to save the details.
  6. Click Next to save and navigate to the next screen (Event and Accounting).

Parent topic: Create Product Segment