7. Accounting Entries and Advices
This Annexure contains details of the suggested accounting roles and
events related to the MB module of Oracle FLEXCUBE. The annexure lists
details of the suggested accounting entries, event-wise. Supporting Advices
and Notifications are also listed in this chapter in the following sections:
7.1 MB Events
The following is an exhaustive list of events that are part of millionaire
certificate product maintenance. In the subsequent paragraphs we shall
examine the accounting entries for each of the events listed below.
| Event Code |
| Event Description |
| BOOK |
| MC/LMC Book |
| INIT |
| MC/LMC Issuance |
| RIMC |
| MC/LMC Re-issuance |
| WIMC |
| MC Issuance to winners |
| LIQD |
| MC/LMC Liquidation |
| ROLL |
| LMC rollover |
| LMCA |
| LMC Monthly amortization |
| PROV |
| MC Monthly provision |
| CLOS |
| LMC Closure |
| REVR |
| Reversal |
7.2 Accounting Entries
No accounting entries are maintained for BOOK and CLOS events. The
accounting entries are maintained for other events as mentioned below:
7.2.1 MC Issuance – Cash/Cheque/Credit Card/Account
transfer
| Event |
| Accounting Role |
| Dr/Cr Ind |
| Amount tag |
| Amount tag Description |
| INIT |
| MC_CUST_AC_GL |
| Dr |
| CERT_AMT |
| Certificate value * No.
of certificates |
| INIT |
| MC_CUST_AC_GL |
| Dr |
| <ChargeClass>_AMT |
| Issuance charge |
| INIT |
| MC_LIAB_GL |
| Cr |
| CERT_AMT |
| Certificate value * No.
of certificates |
| INIT |
| <ChargeClass>_INC |
| Cr |
| <ChargeClass>_AMT |
| Issuance charge |
7.2.2 MC Re-issuance
| Event |
| Accounting Role |
| Dr/Cr Ind |
| Amount tag |
| Amount tag Description |
| RIMC |
| MC_CUST_AC_GL |
| Dr |
| <ChargeClass>_AMT |
| Re-Issuance charge |
| RIMC |
| <ChargeClass>_GL |
| Cr |
| <ChargeClass>_AMT |
| |
7.2.3 MC Issuance to winners
| Event |
| Accounting Role |
| Dr/Cr Ind |
| Amount tag |
| Amount tag Description |
| WIMC |
| HO_AC_CPC |
| Dr |
| CERT_AMT |
| Certificate value * No.
of certificates |
| WIMC |
| MC_LIAB_GL |
| Cr |
| CERT_AMT |
| |
7.2.4 MC Liquidation/Encashment
| Event |
| Accounting Role |
| Dr/Cr Ind |
| Amount tag |
| Amount tag Description |
| LIQD |
| MC_LIAB_GL |
| Dr |
| CERT_AMT |
| Certificate value * No.
of certificates |
| LIQD |
| MC_CUST_AC_GL |
| Cr |
| CERT_AMT |
| |
| LIQD |
| MC_CUST_AC_GL |
| Dr |
| <ChargeClass>_AMT |
| Pre-encashment fee |
| LIQD |
| MC_INCOME_GL |
| Cr |
| <ChargeClass>_AMT |
| |
7.2.5 MC Monthly Provisioning
| Event |
| Accounting Role |
| Dr/Cr Ind |
| Amount tag |
| Amount tag Description |
| PROV |
| MC_EXP_GL |
| Dr |
| PROV_AMT |
| Monthly provision
amount. This would trigger an interbranch accounting entry (Debit the
local branch and credit the HO). |
| PROV |
| MC_PROV_GL |
| Cr |
| PROV_AMT |
7.2.6 MC Reversal
| Event |
| Accounting Role |
| Dr/Cr Ind |
| Amount tag |
| Amount tag Description |
| REVR |
| MC_CUST_AC_GL |
| Dr |
| CERT_AMT |
| Certificate value * No.
of certificates (Negative amount) |
| REVR |
| MC_LIAB_GL |
| Cr |
| CERT_AMT |
| Certificate value * No.
of certificates (Negative amount) |
7.2.7 LMC Issuance
| Event |
| Accounting Role |
| Dr/Cr Ind |
| Amount tag |
| Amount tag Description |
| INIT |
| LMC_ASSET_GL |
| Dr |
| CERT_AMT |
| Certificate value * |
| INIT |
| LMC_LIAB_GL |
| Cr |
| CERT_AMT |
| No. of certificates |
| INIT |
| MC_CUST_AC_GL |
| Dr |
| INT_AMT |
| Issuance price * |
| INIT |
| LMC_ADV_INT_GL |
| Cr |
| INT_AMT |
| No. of LMC issued |
7.2.8 LMC Manual Roll-over
| Event |
| Accounting Role |
| Dr/Cr Ind |
| Amount tag |
| Amount tag Description |
| ROLL |
| MC_CUST_AC_GL |
| Dr |
| INT_AMT |
| Issuance price * No. of
LMC issued |
| ROLL |
| LMC_ADV_INT_GL |
| Cr |
| INT_AMT |
| |
7.2.9 LMC Cancellation
| Event |
| Accounting Role |
| Dr/Cr Ind |
| Amount tag |
| Amount tag Description |
| LIQD |
| LMC_LIAB_GL |
| Dr |
| CERT_AMT |
| Certificate value * No.
of certificates |
| LIQD |
| LMC_ASSET_GL |
| Cr |
| CERT_AMT |
| |
| LIQD |
| LMC_ADV_INT_GL |
| Dr |
| UNAMORTIZED_INT_AMT |
| Unamortized interest
amount |
| LIQD |
| LMC_INT_INCOME_GL |
| Cr |
| UNAMORTIZED_INT_AMT |
| |
7.2.10 LMC Monthly Amortization
| Event |
| Accounting Role |
| Dr/Cr Ind |
| Amount tag |
| Amount tag Description |
| LMCA |
| LMC_ADV_INT_GL |
| Dr |
| AMORTIZE_INT_AMT |
| Amortized interest
amount |
| LMCA |
| LMC_INT_INCOME_GL |
| Cr |
| AMORTIZE_INT_AMT |
| |
7.2.11 LMC Reversal
| Event |
| Accounting Role |
| Dr/Cr Ind |
| Amount tag |
| Amount tag Description |
| REVR |
| LMC_ASSET_GL |
| Dr |
| CERT_AMT |
| Certificate value * (Negative
Amount) |
| REVR |
| LMC_LIAB_GL |
| Cr |
| CERT_AMT |
| No. of certificates (Negative
Amount) |
| REVR |
| MC_CUST_AC_GL |
| Dr |
| INT_AMT |
| Issuance price * (Negative
Amount) |
| REVR |
| LMC_ADV_INT_GL |
| Cr |
| INT_AMT |
| No. of LMC issued (Negative
Amount) |
7.3 Advices
System supports the below mentioned advices.
| Event |
| Advice Name |
| Advice Description |
| Supported Field Tags |
| Field Tag Description |
| INIT/
RIMC/ WIMC |
MB_ISSUE |
Millionaire Certificate Issuance |
| _CUST-NAME1_ |
| Customer Name |
| _BRANCH-NAME_ |
| Branch Name |
| _BOOK_DATE_ |
| Booking Date |
| _VALUE_DATE_ |
| Value Date |
| _ORIGINAL_PURCHASE_DATE_ |
| Original Purchase Date |
| _CERT_START_NUM_ |
| Certificate Start Number |
| _CERT_END_NUM_ |
| Certificate End Number |
| _NUM_CERT_ |
| Number of Certificates |
| _CERT_AMT_ |
| Certificate Amount |
| _CONTROL_NUM_ |
| Control Number |
| _CONTRACT_REF_NO_ |
| Contract Reference Number |
7.4 Notification
System supports gateway notification for the below mentioned events:
| Event Code |
| Event Description |
| INIT |
| MC/LMC Issuance |
| RIMC |
| MC/LMC Re-issuance |
| WIMC |
| MC Issuance to winners |
| LIQD |
| MC/LMC Liquidation |
| ROLL |
| LMC rollover |