12.4 Accounting Entries for Late Payment Charges

The following accounting entries need to be maintained for LIQD and SPWV events at loan product level to process late payment charges.

• LIQD: Liquidation

  Table 12-97 LIQD: Liquidation

  Accounting Role	Amount Tag	Dr./Cr. Indicator
  CUSTOMER	<Special Penalty Component>_ LIQD	Debit
  <Special Penalty Component> INC	<Special Penalty Component>_ LIQD	Credit

• SPWV: Special Penalty Waiver

  Table 12-98 SPWV: Special Penalty Waiver

  Accounting Role	Amount Tag	Dr./Cr. Indicator
  ADJMNT_GL	<Special Penalty Component>_ WAIV	Debit
  ADJMNT_GL_OFF	<Special Penalty Component>_ WAIV	Credit

• PRLQ: Partial Liquidation

  Table 12-99 PRLQ: Partial Liquidation

  Accounting Role	Amount Tag	Dr./Cr. Indicator
  CUSTOMER	<Special Penalty Component>_PAY	Credit
  <Special Penalty Component>PAY	<Special Penalty Component>_PAY	Debit
  CUSTOMER	<Special Penalty Component>_REC	Debit
  <Special Penalty Component>REC	<Special Penalty Component>_REC	Credit

• RSPW: Reversal of Special Penalty Waiver

  Accounting entries for RSPW event is derived by the system from the entries defined for SPWV.

  Table 12-100 SPWV: Special Penalty Waiver

  Accounting Role	Amount Tag	Dr./Cr. Indicator
  ADJMNT_GL	<Special Penalty Component>_ WAIV	Credit
  ADJMNT_GL_OFF	<Special Penalty Component>_ WAIV	Debit